Brokerages Set Western Midstream Partners, LP (NYSE:WES) Price Target at $39.83

Shares of Western Midstream Partners, LP (NYSE:WESGet Free Report) have been given a consensus rating of “Reduce” by the six ratings firms that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $39.83.

Several research firms have commented on WES. Mizuho decreased their target price on shares of Western Midstream Partners from $45.00 to $44.00 and set an “outperform” rating for the company in a research report on Tuesday, May 20th. Wall Street Zen raised Western Midstream Partners from a “hold” rating to a “buy” rating in a report on Saturday, March 8th.

Read Our Latest Research Report on WES

Western Midstream Partners Price Performance

Shares of WES opened at $38.38 on Friday. Western Midstream Partners has a 12 month low of $33.60 and a 12 month high of $43.33. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.18 and a quick ratio of 1.18. The stock has a fifty day moving average price of $37.97 and a 200 day moving average price of $39.36. The company has a market cap of $14.63 billion, a P/E ratio of 11.46 and a beta of 1.09.

Western Midstream Partners (NYSE:WESGet Free Report) last released its quarterly earnings results on Wednesday, May 7th. The pipeline company reported $0.79 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.04). The firm had revenue of $917.12 million for the quarter, compared to the consensus estimate of $926.55 million. Western Midstream Partners had a return on equity of 38.52% and a net margin of 35.79%. The firm’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.47 EPS. On average, research analysts forecast that Western Midstream Partners will post 4.02 earnings per share for the current year.

Western Midstream Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Friday, May 2nd were paid a $0.91 dividend. This is a positive change from Western Midstream Partners’s previous quarterly dividend of $0.88. This represents a $3.64 dividend on an annualized basis and a dividend yield of 9.48%. The ex-dividend date was Friday, May 2nd. Western Midstream Partners’s dividend payout ratio is currently 108.66%.

Hedge Funds Weigh In On Western Midstream Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Princeton Global Asset Management LLC grew its position in Western Midstream Partners by 133.3% in the first quarter. Princeton Global Asset Management LLC now owns 700 shares of the pipeline company’s stock worth $29,000 after buying an additional 400 shares during the last quarter. Financial Network Wealth Advisors LLC boosted its stake in shares of Western Midstream Partners by 1,856.4% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 763 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 724 shares in the last quarter. Cary Street Partners Financial LLC bought a new stake in shares of Western Midstream Partners during the 4th quarter worth $39,000. Bessemer Group Inc. acquired a new position in shares of Western Midstream Partners in the 1st quarter worth $41,000. Finally, Harbour Investments Inc. raised its position in shares of Western Midstream Partners by 555.6% during the fourth quarter. Harbour Investments Inc. now owns 1,180 shares of the pipeline company’s stock worth $45,000 after purchasing an additional 1,000 shares during the period. 84.82% of the stock is owned by institutional investors.

About Western Midstream Partners

(Get Free Report

Western Midstream Partners, LP, together with its subsidiaries, operates as a midstream energy company primarily in the United States. It is involved in gathering, compressing, treating, processing, and transporting natural gas; gathering, stabilizing, and transporting condensate, natural gas liquids (NGLs), and crude oil; and gathering and disposing produced water.

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Analyst Recommendations for Western Midstream Partners (NYSE:WES)

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