Mizuho Issues Positive Forecast for Western Midstream Partners (NYSE:WES) Stock Price

Western Midstream Partners (NYSE:WES) had its target price hoisted by Mizuho from $48.00 to $51.00 in a research note published on Tuesday morning, Marketbeat reports. They currently have an outperform rating on the pipeline company’s stock.

WES has been the subject of a number of other research reports. US Capital Advisors upgraded shares of Western Midstream Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, May 29th. Wall Street Zen upgraded shares of Western Midstream Partners from a “hold” rating to a “buy” rating in a report on Sunday. Citigroup raised their price target on shares of Western Midstream Partners from $39.00 to $42.00 and gave the company a “neutral” rating in a research report on Tuesday, May 12th. Morgan Stanley upgraded shares of Western Midstream Partners from an “underweight” rating to an “equal weight” rating and set a $51.00 price target for the company in a research note on Wednesday, June 10th. Finally, UBS Group upped their price objective on Western Midstream Partners from $45.00 to $48.00 and gave the stock a “neutral” rating in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Western Midstream Partners currently has an average rating of “Hold” and a consensus price target of $46.25.

Western Midstream Partners Price Performance

WES opened at $45.87 on Tuesday. The stock’s 50-day moving average price is $44.28 and its 200 day moving average price is $42.30. Western Midstream Partners has a 12-month low of $36.90 and a 12-month high of $48.01. The firm has a market cap of $18.06 billion, a price-to-earnings ratio of 14.99, a PEG ratio of 1.93 and a beta of 0.68. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.34.

Western Midstream Partners (NYSE:WES) last issued its quarterly earnings results on Wednesday, May 6th. The pipeline company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.11. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.01 billion. Western Midstream Partners had a net margin of 29.98% and a return on equity of 33.89%. The business’s revenue for the quarter was up 22.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.79 earnings per share. As a group, sell-side analysts expect that Western Midstream Partners will post 3.44 earnings per share for the current year.

Western Midstream Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were paid a dividend of $0.93 per share. The ex-dividend date was Friday, May 1st. This is an increase from Western Midstream Partners’s previous quarterly dividend of $0.91. This represents a $3.72 dividend on an annualized basis and a dividend yield of 8.1%. Western Midstream Partners’s payout ratio is presently 121.57%.

Institutional Investors Weigh In On Western Midstream Partners

Institutional investors have recently added to or reduced their stakes in the business. Eagle Bay Advisors LLC acquired a new position in Western Midstream Partners in the fourth quarter valued at approximately $27,000. Northwestern Mutual Wealth Management Co. acquired a new stake in Western Midstream Partners during the fourth quarter worth approximately $27,000. Rothschild Investment LLC raised its holdings 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 purchasing an additional 343 shares in the last quarter. Garton & Associates Financial Advisors LLC purchased a new stake in shares of Western Midstream Partners during the 4th quarter worth approximately $32,000. Finally, Global Wealth Strategies & Associates acquired a new position in shares of Western Midstream Partners in the 4th quarter valued at $35,000. Hedge funds and other 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.