Brokerages Set Western Midstream Partners, LP (NYSE:WES) PT at $46.25

Western Midstream Partners, LP (NYSE:WES) has earned an average rating of “Hold” from the nine research firms that are presently covering the company, MarketBeat reports. Six investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $46.25.

WES has been the subject of a number of research analyst reports. Citigroup lifted their price target on shares of Western Midstream Partners from $39.00 to $42.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 12th. Wall Street Zen upgraded shares of Western Midstream Partners from a “hold” rating to a “buy” rating in a research report on Sunday, July 12th. Stifel Nicolaus set a $46.00 target price on shares of Western Midstream Partners and gave the stock a “buy” rating in a report on Thursday, May 7th. Morgan Stanley raised shares of Western Midstream Partners from an “underweight” rating to an “equal weight” rating and set a $51.00 target price for the company in a research report on Wednesday, June 10th. Finally, Wells Fargo & Company boosted their target price on shares of Western Midstream Partners from $41.00 to $43.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 13th.

Western Midstream Partners Trading Up 0.2%

Western Midstream Partners stock opened at $47.59 on Monday. Western Midstream Partners has a one year low of $36.90 and a one year high of $48.63. The business’s fifty day moving average is $44.67 and its 200 day moving average is $42.70. The stock has a market capitalization of $18.74 billion, a PE ratio of 15.55, a price-to-earnings-growth ratio of 1.97 and a beta of 0.68. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.09 and a quick ratio of 1.09.

Western Midstream Partners (NYSE:WES) last issued its earnings results on Wednesday, May 6th. The pipeline company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.11. The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.01 billion. Western Midstream Partners had a return on equity of 33.89% and a net margin of 29.98%.Western Midstream Partners’s revenue was up 22.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.79 EPS. On average, sell-side analysts predict that Western Midstream Partners will post 3.49 EPS for the current year.

Western Midstream Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be issued a $0.93 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a $3.72 annualized dividend and a dividend yield of 7.8%. Western Midstream Partners’s payout ratio is presently 121.57%.

Institutional Trading of Western Midstream Partners

A number of hedge funds have recently bought and sold shares of the company. Eagle Bay Advisors LLC purchased a new position in Western Midstream Partners in the fourth quarter worth about $27,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Western Midstream Partners during the 4th quarter valued at about $27,000. Rothschild Investment LLC increased its position in shares of Western Midstream Partners by 76.2% during the 4th quarter. Rothschild Investment LLC now owns 793 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 343 shares during the last quarter. Garton & Associates Financial Advisors LLC bought a new position in shares of Western Midstream Partners in the 4th quarter worth approximately $32,000. Finally, Glen Eagle Advisors LLC lifted its stake in shares of Western Midstream Partners by 843.0% in the 4th quarter. Glen Eagle Advisors LLC now owns 943 shares of the pipeline company’s stock worth $37,000 after purchasing an additional 843 shares during the period. 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.