UBS Group Cuts Western Midstream Partners (NYSE:WES) Price Target to $37.00

Western Midstream Partners (NYSE:WES) had its price target reduced by analysts at UBS Group from $40.00 to $37.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the pipeline company’s stock. UBS Group’s target price would suggest a potential downside of 4.00% from the company’s current price.

Other research analysts also recently issued reports about the company. StockNews.com downgraded Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 28th. Stifel Nicolaus boosted their price target on shares of Western Midstream Partners from $39.00 to $40.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Royal Bank of Canada increased their price objective on shares of Western Midstream Partners from $38.00 to $41.00 and gave the company a “sector perform” rating in a report on Wednesday, October 16th. Bank of America started coverage on Western Midstream Partners in a report on Thursday, October 17th. They issued an “underperform” rating and a $37.00 price objective on the stock. Finally, Morgan Stanley cut shares of Western Midstream Partners from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $42.00 to $40.00 in a research note on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $37.88.

Western Midstream Partners Stock Performance

WES stock traded up $0.76 during midday trading on Friday, hitting $38.54. 188,791 shares of the stock traded hands, compared to its average volume of 1,233,888. Western Midstream Partners has a 1-year low of $26.81 and a 1-year high of $42.80. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.11 and a quick ratio of 1.11. The stock’s fifty day simple moving average is $38.37 and its 200-day simple moving average is $38.52. The firm has a market cap of $14.67 billion, a P/E ratio of 9.83, a PEG ratio of 0.69 and a beta of 2.88.

Western Midstream Partners (NYSE:WES) last posted its earnings results on Wednesday, November 6th. The pipeline company reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.09). The business had revenue of $883.36 million for the quarter, compared to analyst estimates of $924.83 million. Western Midstream Partners had a net margin of 42.99% and a return on equity of 46.02%. Western Midstream Partners’s revenue was up 13.8% on a year-over-year basis. During the same quarter last year, the business earned $0.70 earnings per share. On average, analysts expect that Western Midstream Partners will post 4.13 earnings per share for the current year.

Institutional Trading of Western Midstream Partners

Hedge funds and other institutional investors have recently modified their holdings of the business. Farther Finance Advisors LLC raised its position in Western Midstream Partners by 287.3% in the third quarter. Farther Finance Advisors LLC now owns 1,437 shares of the pipeline company’s stock valued at $55,000 after purchasing an additional 1,066 shares during the period. EverSource Wealth Advisors LLC purchased a new position in Western Midstream Partners during the 2nd quarter valued at about $74,000. Triad Wealth Partners LLC acquired a new position in Western Midstream Partners in the 2nd quarter valued at about $78,000. Cedar Mountain Advisors LLC increased its stake in Western Midstream Partners by 16.1% during the third quarter. Cedar Mountain Advisors LLC now owns 2,158 shares of the pipeline company’s stock worth $83,000 after purchasing an additional 299 shares during the period. Finally, Farmers & Merchants Investments Inc. lifted its position in shares of Western Midstream Partners by 63.9% during the second quarter. Farmers & Merchants Investments Inc. now owns 2,566 shares of the pipeline company’s stock worth $102,000 after purchasing an additional 1,000 shares in the last quarter. 42.94% of the stock is owned by institutional investors and hedge funds.

Western Midstream Partners Company Profile

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.