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

Western Midstream Partners, LP (NYSE:WES) has received a consensus recommendation of “Reduce” from the ten analysts that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $37.88.

A number of analysts recently issued reports on WES shares. US Capital Advisors raised Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 26th. Morgan Stanley cut Western Midstream Partners from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $42.00 to $40.00 in a research note on Friday, October 25th. StockNews.com cut shares of Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 28th. UBS Group dropped their price target on shares of Western Midstream Partners from $40.00 to $37.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $41.00 price objective on shares of Western Midstream Partners in a research report on Monday, December 9th.

Western Midstream Partners Trading Up 2.0 %

NYSE WES opened at $41.50 on Thursday. The stock has a market capitalization of $15.79 billion, a price-to-earnings ratio of 10.59, a PEG ratio of 1.24 and a beta of 2.90. Western Midstream Partners has a 52 week low of $27.49 and a 52 week high of $42.80. The stock’s 50 day moving average price is $39.25 and its two-hundred day moving average price is $39.08. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.11 and a current ratio of 1.11.

Western Midstream Partners (NYSE:WES) last announced its earnings results on Wednesday, November 6th. The pipeline company reported $0.74 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.09). Western Midstream Partners had a return on equity of 46.02% and a net margin of 42.99%. The business had revenue of $883.36 million for the quarter, compared to analyst estimates of $924.83 million. During the same quarter in the previous year, the company posted $0.70 EPS. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. As a group, analysts anticipate that Western Midstream Partners will post 4.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Western Midstream Partners

Several hedge funds have recently bought and sold shares of the stock. Cedar Mountain Advisors LLC increased its stake in shares of 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. Bleakley Financial Group LLC grew its holdings in Western Midstream Partners by 5.8% in the 3rd quarter. Bleakley Financial Group LLC now owns 5,711 shares of the pipeline company’s stock valued at $218,000 after buying an additional 311 shares in the last quarter. Concurrent Investment Advisors LLC grew its holdings in Western Midstream Partners by 6.2% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 6,053 shares of the pipeline company’s stock valued at $232,000 after buying an additional 352 shares in the last quarter. Truist Financial Corp increased its position in Western Midstream Partners by 1.9% during the 2nd quarter. Truist Financial Corp now owns 22,508 shares of the pipeline company’s stock worth $894,000 after buying an additional 421 shares during the period. Finally, Albert D Mason Inc. lifted its holdings in shares of Western Midstream Partners by 1.0% during the third quarter. Albert D Mason Inc. now owns 49,261 shares of the pipeline company’s stock worth $1,885,000 after buying an additional 501 shares in the last quarter. 84.82% of the stock is currently 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.