Western Midstream Partners (NYSE:WES) Share Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Western Midstream Partners, LP (NYSE:WES) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $39.55 and traded as high as $43.21. Western Midstream Partners shares last traded at $42.19, with a volume of 1,483,157 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on WES shares. Stifel Nicolaus cut their target price on shares of Western Midstream Partners from $43.00 to $42.00 and set a “hold” rating for the company in a research note on Friday, February 20th. Royal Bank Of Canada lifted their target price on shares of Western Midstream Partners from $39.00 to $42.00 and gave the stock a “sector perform” rating in a report on Friday, November 28th. Wall Street Zen cut shares of Western Midstream Partners from a “buy” rating to a “hold” rating in a report on Saturday, December 27th. Finally, Wells Fargo & Company cut their price objective on shares of Western Midstream Partners from $40.00 to $39.00 and set an “equal weight” rating for the company in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $41.17.

Western Midstream Partners Price Performance

The firm has a market capitalization of $16.61 billion, a price-to-earnings ratio of 14.06 and a beta of 0.76. The company’s 50 day moving average is $41.20 and its 200 day moving average is $39.55. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.97.

Western Midstream Partners (NYSE:WES) last posted its quarterly earnings data on Wednesday, February 18th. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.44). Western Midstream Partners had a net margin of 30.52% and a return on equity of 33.14%. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the prior year, the firm earned $0.85 EPS. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. On average, equities research analysts anticipate that Western Midstream Partners, LP will post 4.02 earnings per share for the current fiscal year.

Western Midstream Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 2nd were issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 8.6%. The ex-dividend date of this dividend was Monday, February 2nd. Western Midstream Partners’s dividend payout ratio is 121.33%.

Insider Buying and Selling

In related news, SVP Christopher B. Dial sold 5,879 shares of the business’s stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $42.35, for a total value of $248,975.65. Following the completion of the transaction, the senior vice president owned 185,011 shares of the company’s stock, valued at $7,835,215.85. The trade was a 3.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.04% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Western Midstream Partners

Hedge funds have recently bought and sold shares of the company. Eagle Bay Advisors LLC bought a new stake in shares of Western Midstream Partners during the 4th quarter worth approximately $27,000. Northwestern Mutual Wealth Management Co. bought a new stake in Western Midstream Partners during the fourth quarter worth $27,000. Rothschild Investment LLC boosted its holdings in shares of Western Midstream Partners by 76.2% in 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 in the last quarter. Garton & Associates Financial Advisors LLC bought a new position in shares of Western Midstream Partners in the 4th quarter valued at $32,000. Finally, Global Wealth Strategies & Associates acquired a new position in shares of Western Midstream Partners during the 4th quarter worth $35,000. 84.82% of the stock is owned by institutional investors.

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.