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

Shares of Western Midstream Partners, LP (NYSE:WES) have received an average recommendation of “Hold” from the five research firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $41.3333.

A number of equities research analysts have recently commented on WES shares. Stifel Nicolaus set a $43.00 target price on Western Midstream Partners in a research note on Thursday, November 6th. Royal Bank Of Canada raised their price objective on shares of Western Midstream Partners from $39.00 to $42.00 and gave the stock a “sector perform” rating in a report on Friday, November 28th. Citigroup began coverage on shares of Western Midstream Partners in a research report on Monday, October 20th. They issued a “neutral” rating and a $39.00 price objective on the stock. Wall Street Zen cut shares of Western Midstream Partners from a “buy” rating to a “hold” rating in a research note on Saturday, December 27th. Finally, Wells Fargo & Company reduced their target price on shares of Western Midstream Partners from $40.00 to $39.00 and set an “equal weight” rating for the company in a research report on Thursday.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in WES. Howard Financial Services LTD. grew its stake in shares of Western Midstream Partners by 2.3% during the 4th quarter. Howard Financial Services LTD. now owns 10,947 shares of the pipeline company’s stock worth $432,000 after acquiring an additional 249 shares during the period. Daymark Wealth Partners LLC raised its stake in Western Midstream Partners by 0.6% in the 2nd quarter. Daymark Wealth Partners LLC now owns 45,774 shares of the pipeline company’s stock valued at $1,771,000 after acquiring an additional 268 shares during the period. Apollon Wealth Management LLC lifted its holdings in Western Midstream Partners by 1.0% during the second quarter. Apollon Wealth Management LLC now owns 26,382 shares of the pipeline company’s stock valued at $1,021,000 after purchasing an additional 269 shares during the last quarter. Albert D Mason Inc. boosted its position in Western Midstream Partners by 0.9% during the fourth quarter. Albert D Mason Inc. now owns 33,912 shares of the pipeline company’s stock worth $1,340,000 after purchasing an additional 297 shares during the period. Finally, HB Wealth Management LLC boosted its position in Western Midstream Partners by 4.0% during the third quarter. HB Wealth Management LLC now owns 7,900 shares of the pipeline company’s stock worth $310,000 after purchasing an additional 304 shares during the period. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Western Midstream Partners Stock Performance

WES stock opened at $40.72 on Monday. The firm has a market cap of $16.61 billion, a PE ratio of 12.05 and a beta of 0.76. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 2.08. The business has a 50 day moving average of $39.78 and a 200-day moving average of $39.14. Western Midstream Partners has a 12-month low of $33.60 and a 12-month high of $43.11.

Western Midstream Partners (NYSE:WES) last issued its quarterly earnings results on Tuesday, November 4th. The pipeline company reported $0.87 EPS for the quarter, hitting analysts’ consensus estimates of $0.87. Western Midstream Partners had a return on equity of 39.37% and a net margin of 35.18%.The business had revenue of $952.48 million for the quarter, compared to analyst estimates of $965.55 million. During the same period last year, the company posted $0.74 earnings per share. Western Midstream Partners’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, sell-side analysts expect that Western Midstream Partners will post 4.02 earnings per share for the current year.

Western Midstream Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Monday, February 2nd will be issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 8.9%. The ex-dividend date of this dividend is Monday, February 2nd. Western Midstream Partners’s dividend payout ratio is 107.69%.

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.