Research analysts at Mizuho assumed coverage on shares of Western Midstream Partners (NYSE:WES) in a research note issued to investors on Friday, Marketbeat reports. The brokerage set a “buy” rating and a $34.00 price target on the pipeline company’s stock. Mizuho’s price target points to a potential upside of 16.00% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. Barclays assumed coverage on shares of Western Midstream Partners in a report on Friday, March 22nd. They set an “equal weight” rating and a $34.00 price target for the company. ValuEngine cut shares of Western Midstream Partners from a “hold” rating to a “sell” rating in a report on Tuesday, April 30th. Mitsubishi UFJ Financial Group cut their price target on shares of Western Midstream Partners from $55.00 to $42.00 and set an “overweight” rating for the company in a report on Monday, April 15th. Citigroup reissued a “buy” rating and set a $35.00 price target on shares of Western Midstream Partners in a report on Tuesday, April 9th. Finally, M Partners increased their price target on shares of Western Midstream Partners from $42.00 to $55.00 and gave the stock a “neutral” rating in a report on Friday, February 15th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. Western Midstream Partners currently has an average rating of “Hold” and an average price target of $45.00.

NYSE WES opened at $29.31 on Friday. The stock has a market cap of $13.36 billion, a P/E ratio of 11.68, a PEG ratio of 2.14 and a beta of 1.48. Western Midstream Partners has a 52-week low of $25.89 and a 52-week high of $37.69. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.13 and a quick ratio of 0.13.

Western Midstream Partners (NYSE:WES) last posted its quarterly earnings results on Tuesday, April 30th. The pipeline company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.17). The firm had revenue of $671.88 million for the quarter, compared to analysts’ expectations of $622.45 million. Western Midstream Partners had a return on equity of 11.61% and a net margin of 16.47%. The company’s revenue for the quarter was up 34.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.46 earnings per share. As a group, sell-side analysts predict that Western Midstream Partners will post 2.3 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Clearbridge Investments LLC grew its position in Western Midstream Partners by 67.6% during the first quarter. Clearbridge Investments LLC now owns 3,873,154 shares of the pipeline company’s stock worth $121,462,000 after buying an additional 1,562,284 shares during the period. Diversified Trust Co grew its position in Western Midstream Partners by 31.3% during the first quarter. Diversified Trust Co now owns 41,245 shares of the pipeline company’s stock worth $1,293,000 after buying an additional 9,823 shares during the period. GYL Financial Synergies LLC acquired a new position in Western Midstream Partners during the first quarter worth about $990,000. Cypress Wealth Advisors LLC grew its position in Western Midstream Partners by 529.0% during the first quarter. Cypress Wealth Advisors LLC now owns 79,475 shares of the pipeline company’s stock worth $2,492,000 after buying an additional 66,840 shares during the period. Finally, FMR LLC grew its position in Western Midstream Partners by 83.4% during the first quarter. FMR LLC now owns 320,105 shares of the pipeline company’s stock worth $10,038,000 after buying an additional 145,604 shares during the period. Institutional investors own 41.13% of the company’s stock.

About Western Midstream Partners

Western Midstream Partners, LP, together with its subsidiaries, engages in gathering, processing, compressing, treating, stabilizing, and transporting natural gas, condensate, natural gas liquids, and crude oil primarily in the United States. It is also involved in the gathering and disposing of produced water; and buying and selling of natural gas.

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Analyst Recommendations for Western Midstream Partners (NYSE:WES)

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