Wall Street Zen Downgrades Western Midstream Partners (NYSE:WES) to Hold

Western Midstream Partners (NYSE:WES) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

Other research analysts have also recently issued research reports about the company. Mizuho began coverage on Western Midstream Partners in a research note on Wednesday, June 17th. They issued an “outperform” rating and a $48.00 price objective on the stock. Morgan Stanley raised Western Midstream Partners from an “underweight” rating to an “equal weight” rating and set a $51.00 target price for the company in a research report on Wednesday, June 10th. Wells Fargo & Company upped their target price on Western Midstream Partners from $41.00 to $43.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 13th. JPMorgan Chase & Co. dropped their price target on Western Midstream Partners from $44.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, March 12th. Finally, UBS Group raised their price target on Western Midstream Partners from $40.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $45.00.

Western Midstream Partners Price Performance

Shares of WES stock opened at $43.72 on Friday. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.09 and a quick ratio of 1.09. The company has a market capitalization of $17.21 billion, a P/E ratio of 14.29, a P/E/G ratio of 1.84 and a beta of 0.68. The company’s 50-day simple moving average is $43.85 and its two-hundred day simple moving average is $42.00. Western Midstream Partners has a one year low of $36.90 and a one year high of $48.01.

Western Midstream Partners (NYSE:WES) last posted its quarterly earnings results on Wednesday, May 6th. The pipeline company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.11. Western Midstream Partners had a net margin of 29.98% and a return on equity of 33.89%. The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the previous year, the firm posted $0.79 earnings per share. The company’s revenue was up 22.5% on a year-over-year basis. As a group, equities analysts anticipate that Western Midstream Partners will post 3.44 EPS for the current year.

Hedge Funds Weigh In On Western Midstream Partners

A number of large investors have recently bought and sold shares of the business. Eagle Bay Advisors LLC purchased a new stake in Western Midstream Partners during the fourth quarter worth $27,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of Western Midstream Partners in the 4th quarter worth $27,000. Rothschild Investment LLC lifted its stake in shares of Western Midstream Partners by 76.2% during the 4th quarter. Rothschild Investment LLC now owns 793 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 343 shares during the last quarter. Garton & Associates Financial Advisors LLC purchased a new stake in shares of Western Midstream Partners during the 4th quarter worth $32,000. Finally, Global Wealth Strategies & Associates bought a new stake in Western Midstream Partners during the fourth quarter valued at about $35,000. Institutional investors own 84.82% of the company’s stock.

Western Midstream Partners Company Profile

Western Midstream Partners, LP (NYSE: WES) is a midstream energy infrastructure company that owns, operates and develops an integrated network of crude oil, natural gas and produced water gathering, processing, transportation and storage assets in the United States. The partnership’s primary offerings include pipeline transportation, fractionation services, natural gas liquids (NGL) logistics and produced water handling. Through its fee-based and commodity-based contracts, Western Midstream provides its customers with essential services that support efficient energy production and distribution.

The company’s asset portfolio spans key onshore basins, including the Delaware Basin in West Texas and southeastern New Mexico, the San Juan Basin in New Mexico and Colorado, and the Denver-Julesburg Basin in Colorado.