Western Midstream Partners (NYSE:WES) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Western Midstream Partners (NYSE:WES) had its target price lifted by equities research analysts at Wells Fargo & Company from $38.00 to $40.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the pipeline company’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 2.98% from the company’s previous close.

Several other analysts also recently commented on the stock. Morgan Stanley reduced their price target on shares of Western Midstream Partners from $41.00 to $39.00 and set an “underweight” rating for the company in a research report on Tuesday, August 26th. Stifel Nicolaus set a $43.00 price objective on shares of Western Midstream Partners in a research note on Thursday, November 6th. Royal Bank Of Canada increased their target price on shares of Western Midstream Partners from $38.00 to $39.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 26th. Mizuho raised their price target on Western Midstream Partners from $44.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, August 29th. Finally, Citigroup started coverage on 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. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $40.43.

Western Midstream Partners Stock Performance

Shares of NYSE WES traded down $0.07 during trading hours on Thursday, reaching $38.84. The stock had a trading volume of 449,593 shares, compared to its average volume of 1,290,289. The firm has a 50-day moving average of $38.40 and a 200-day moving average of $38.59. The firm has a market cap of $15.85 billion, a price-to-earnings ratio of 11.95 and a beta of 1.14. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 2.08. Western Midstream Partners has a fifty-two week low of $33.60 and a fifty-two week high of $43.33.

Western Midstream Partners (NYSE:WES) last issued its quarterly earnings data on Tuesday, November 4th. The pipeline company reported $0.87 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.87. The company had revenue of $952.48 million during the quarter, compared to analysts’ expectations of $965.55 million. Western Midstream Partners had a return on equity of 37.70% and a net margin of 34.45%.The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.74 earnings per share. Equities research analysts predict that Western Midstream Partners will post 4.02 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Financial Network Wealth Advisors LLC boosted its holdings in Western Midstream Partners by 1,856.4% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 763 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 724 shares in the last quarter. Jones Financial Companies Lllp raised its stake in shares of Western Midstream Partners by 86.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 908 shares of the pipeline company’s stock worth $36,000 after buying an additional 420 shares in the last quarter. Sound Income Strategies LLC acquired a new stake in shares of Western Midstream Partners in the 2nd quarter valued at approximately $39,000. MTM Investment Management LLC acquired a new stake in shares of Western Midstream Partners in the 2nd quarter valued at approximately $39,000. Finally, Allworth Financial LP purchased a new stake in shares of Western Midstream Partners in the second quarter valued at approximately $43,000. 84.82% of the stock is owned by hedge funds and other institutional investors.

About Western Midstream Partners

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.