Weekly Analysts’ Ratings Updates for Western Midstream Partners (WES)

A number of firms have modified their ratings and price targets on shares of Western Midstream Partners (NYSE: WES) recently:

• 10/20/2024 – Western Midstream Partners was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.
• 10/17/2024 – Western Midstream Partners is now covered by analysts at Bank of America Co.. They set an “underperform” rating and a $37.00 price target on the stock.
• 10/16/2024 – Western Midstream Partners had its price target raised by analysts at Royal Bank of Canada from $38.00 to $41.00. They now have a “sector perform” rating on the stock.
• 10/12/2024 – Western Midstream Partners was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.
• 10/4/2024 – Western Midstream Partners was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.
• 9/18/2024 – Western Midstream Partners had its price target raised by analysts at UBS Group AG from $38.00 to $39.00. They now have a “neutral” rating on the stock.
• 9/17/2024 – Western Midstream Partners was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.
• 9/16/2024 – Western Midstream Partners was downgraded by analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating. They now have a $42.00 price target on the stock.
• 9/3/2024 – Western Midstream Partners was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.
• 8/27/2024 – Western Midstream Partners had its price target raised by analysts at Royal Bank of Canada from $36.00 to $38.00. They now have a “sector perform” rating on the stock.

Western Midstream Partners Stock Performance

Shares of NYSE:WES traded down $0.08 during mid-day trading on Thursday, reaching $38.26. 93,635 shares of the company traded hands, compared to its average volume of 1,202,301. Western Midstream Partners, LP has a 52 week low of $26.49 and a 52 week high of $42.80. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.68 and a quick ratio of 1.68. The firm has a market cap of $14.56 billion, a PE ratio of 9.86, a PEG ratio of 0.72 and a beta of 2.87. The company’s 50 day moving average price is $38.64 and its 200-day moving average price is $38.31.

Western Midstream Partners (NYSE:WES) last posted its quarterly earnings results on Wednesday, August 7th. The pipeline company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.09. Western Midstream Partners had a return on equity of 47.19% and a net margin of 44.01%. The business had revenue of $905.63 million during the quarter, compared to the consensus estimate of $904.94 million. During the same period in the prior year, the company posted $0.64 EPS. The firm’s revenue for the quarter was up 22.7% compared to the same quarter last year. On average, equities analysts expect that Western Midstream Partners, LP will post 4.13 EPS for the current fiscal year.

Western Midstream Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Friday, November 1st will be paid a $0.875 dividend. The ex-dividend date is Friday, November 1st. This represents a $3.50 annualized dividend and a yield of 9.15%. Western Midstream Partners’s payout ratio is 90.21%.

Insiders Place Their Bets

In other Western Midstream Partners news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total value of $697,125,000.00. Following the completion of the transaction, the insider now directly owns 165,681,578 shares in the company, valued at $5,923,116,413.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.04% of the stock is currently owned by corporate insiders.

Institutional Trading of Western Midstream Partners

Several hedge funds have recently modified their holdings of WES. Jennison Associates LLC raised its holdings in shares of Western Midstream Partners by 96.0% during the 1st quarter. Jennison Associates LLC now owns 1,928,179 shares of the pipeline company’s stock worth $68,547,000 after acquiring an additional 944,494 shares in the last quarter. Kayne Anderson Capital Advisors LP raised its holdings in Western Midstream Partners by 27.4% during the 1st quarter. Kayne Anderson Capital Advisors LP now owns 4,165,829 shares of the pipeline company’s stock valued at $148,095,000 after buying an additional 895,715 shares during the period. BNP Paribas Financial Markets raised its holdings in Western Midstream Partners by 174.3% during the 1st quarter. BNP Paribas Financial Markets now owns 417,302 shares of the pipeline company’s stock valued at $14,835,000 after buying an additional 265,143 shares during the period. Blackstone Inc. raised its holdings in Western Midstream Partners by 2.0% during the 1st quarter. Blackstone Inc. now owns 12,980,724 shares of the pipeline company’s stock valued at $461,465,000 after buying an additional 259,928 shares during the period. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its holdings in Western Midstream Partners by 10.1% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,315,472 shares of the pipeline company’s stock valued at $50,330,000 after buying an additional 120,202 shares during the period. 42.94% of the stock is owned by hedge funds and other institutional investors.

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.