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

Western Midstream Partners, LP (NYSE:WES) has received an average rating of “Hold” from the five research firms that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $41.3333.

Several research firms have weighed in on WES. Stifel Nicolaus set a $43.00 target price on Western Midstream Partners in a research note on Thursday, November 6th. Citigroup began coverage on shares of Western Midstream Partners in a research report on Monday, October 20th. They issued a “neutral” rating and a $39.00 price target on the stock. Wells Fargo & Company reduced their price objective on shares of Western Midstream Partners from $40.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 22nd. Royal Bank Of Canada upped their target price on shares of Western Midstream Partners from $39.00 to $42.00 and gave the company a “sector perform” rating in a research note on Friday, November 28th. Finally, Wall Street Zen cut shares of Western Midstream Partners from a “buy” rating to a “hold” rating in a research report on Saturday, December 27th.

Western Midstream Partners Trading Down 0.8%

Shares of NYSE WES opened at $41.43 on Monday. Western Midstream Partners has a fifty-two week low of $33.60 and a fifty-two week high of $42.80. The firm has a market capitalization of $16.90 billion, a P/E ratio of 12.26 and a beta of 0.77. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.43 and a quick ratio of 1.43. The company’s 50 day simple moving average is $39.99 and its 200 day simple moving average is $39.18.

Western Midstream Partners (NYSE:WES) last issued its earnings results on Tuesday, November 4th. The pipeline company reported $0.87 EPS for the quarter, meeting the consensus estimate of $0.87. Western Midstream Partners had a net margin of 35.18% and a return on equity of 39.37%. The company had revenue of $952.48 million during the quarter, compared to analysts’ expectations of $965.55 million. During the same quarter in the previous year, the company posted $0.74 EPS. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, analysts predict that Western Midstream Partners will post 4.02 EPS for the current year.

Western Midstream Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Monday, February 2nd will be paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 8.8%. The ex-dividend date of this dividend is Monday, February 2nd. Western Midstream Partners’s payout ratio is presently 107.69%.

Hedge Funds Weigh In On Western Midstream Partners

Several institutional investors have recently modified their holdings of the business. Quantum Financial Planning Services Inc. acquired a new position in shares of Western Midstream Partners during the second quarter worth about $310,000. Advisors Asset Management Inc. raised its position in Western Midstream Partners by 17.2% in the 2nd quarter. Advisors Asset Management Inc. now owns 157,099 shares of the pipeline company’s stock valued at $6,080,000 after buying an additional 23,023 shares during the last quarter. Catalyst Capital Advisors LLC lifted its stake in Western Midstream Partners by 2.4% in the 2nd quarter. Catalyst Capital Advisors LLC now owns 472,420 shares of the pipeline company’s stock valued at $18,283,000 after acquiring an additional 11,055 shares in the last quarter. Stephens Inc. AR boosted its position in Western Midstream Partners by 215.4% during the 2nd quarter. Stephens Inc. AR now owns 131,361 shares of the pipeline company’s stock worth $5,084,000 after acquiring an additional 89,707 shares during the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its stake in shares of Western Midstream Partners by 5.6% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,270,900 shares of the pipeline company’s stock worth $49,934,000 after acquiring an additional 67,000 shares in the last quarter. Institutional investors own 84.82% of the company’s stock.

About Western Midstream Partners

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.