Western Midstream Partners, LP (NYSE:WES) Given Consensus Rating of “Hold” by Brokerages

Western Midstream Partners, LP (NYSE:WES) has been assigned a consensus recommendation of “Hold” from the nine brokerages that are covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $46.25.

A number of equities analysts have weighed in on WES shares. Mizuho lifted their price target on shares of Western Midstream Partners from $48.00 to $51.00 and gave the company an “outperform” rating in a report on Tuesday, July 14th. JPMorgan Chase & Co. upped their price objective on Western Midstream Partners from $46.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, July 14th. UBS Group increased their target price on Western Midstream Partners from $45.00 to $48.00 and gave the stock a “neutral” rating in a research report on Friday, July 10th. Wells Fargo & Company lifted their target price on Western Midstream Partners from $41.00 to $43.00 and gave the company an “equal weight” rating in a report on Wednesday, May 13th. Finally, Citigroup boosted their price target on Western Midstream Partners from $39.00 to $42.00 and gave the company a “neutral” rating in a research report on Tuesday, May 12th.

Institutional Trading of Western Midstream Partners

A number of institutional investors have recently modified their holdings of the company. Eagle Bay Advisors LLC purchased a new position in Western Midstream Partners in the fourth quarter valued at approximately $27,000. Northwestern Mutual Wealth Management Co. acquired a new position in Western Midstream Partners during the fourth quarter valued at approximately $27,000. Rothschild Investment LLC grew its stake in Western Midstream Partners by 76.2% during the fourth quarter. Rothschild Investment LLC now owns 793 shares of the pipeline company’s stock worth $31,000 after buying an additional 343 shares during the period. Garton & Associates Financial Advisors LLC purchased a new stake in Western Midstream Partners during the fourth quarter worth approximately $32,000. Finally, Glen Eagle Advisors LLC increased its position in shares of Western Midstream Partners by 843.0% in the fourth quarter. Glen Eagle Advisors LLC now owns 943 shares of the pipeline company’s stock worth $37,000 after acquiring an additional 843 shares in the last quarter. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Western Midstream Partners Trading Up 0.1%

Shares of WES stock opened at $46.02 on Monday. The firm’s 50-day simple moving average is $44.48 and its 200-day simple moving average is $42.43. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.09 and a quick ratio of 1.09. Western Midstream Partners has a 1-year low of $36.90 and a 1-year high of $48.01. The firm has a market cap of $18.12 billion, a P/E ratio of 15.04, a PEG ratio of 1.93 and a beta of 0.68.

Western Midstream Partners (NYSE:WES) last released its earnings results on Wednesday, May 6th. The pipeline company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the firm earned $0.79 earnings per share. Western Midstream Partners’s revenue was up 22.5% compared to the same quarter last year. As a group, equities analysts forecast that Western Midstream Partners will post 3.45 EPS for the current year.

About Western Midstream Partners

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.