Brokerages Set Western Midstream Partners, LP (NYSE:WES) PT at $31.09

Western Midstream Partners, LP (NYSE:WESGet Free Report) has been assigned a consensus rating of “Hold” from the twelve research firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $31.09.

Several research analysts have recently issued reports on WES shares. StockNews.com cut shares of Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a report on Saturday. Mizuho lifted their price target on shares of Western Midstream Partners from $34.00 to $39.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. Wolfe Research upgraded Western Midstream Partners from an “underperform” rating to a “peer perform” rating in a report on Thursday, April 18th. Raymond James reiterated a “market perform” rating on shares of Western Midstream Partners in a report on Tuesday, March 19th. Finally, Stifel Nicolaus increased their price target on shares of Western Midstream Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd.

Check Out Our Latest Stock Report on Western Midstream Partners

Insider Activity

In other Western Midstream Partners news, Director Lisa A. Stewart acquired 2,500 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were acquired at an average cost of $34.87 per share, for a total transaction of $87,175.00. Following the completion of the purchase, the director now owns 30,730 shares of the company’s stock, valued at approximately $1,071,555.10. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Kenneth F. Owen purchased 7,000 shares of the business’s stock in a transaction on Monday, February 26th. The stock was purchased at an average price of $33.96 per share, with a total value of $237,720.00. Following the acquisition, the director now directly owns 32,730 shares in the company, valued at approximately $1,111,510.80. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Lisa A. Stewart bought 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was purchased at an average price of $34.87 per share, with a total value of $87,175.00. Following the completion of the purchase, the director now directly owns 30,730 shares of the company’s stock, valued at approximately $1,071,555.10. The disclosure for this purchase can be found here. Insiders own 0.04% of the company’s stock.

Institutional Trading of Western Midstream Partners

Several institutional investors have recently made changes to their positions in the business. Eagle Bay Advisors LLC acquired a new position in shares of Western Midstream Partners in the 1st quarter worth approximately $29,000. Larson Financial Group LLC bought a new position in shares of Western Midstream Partners in the third quarter valued at about $27,000. American National Bank raised its stake in shares of Western Midstream Partners by 34.5% in the first quarter. American National Bank now owns 1,190 shares of the pipeline company’s stock worth $42,000 after acquiring an additional 305 shares during the last quarter. Fortitude Family Office LLC acquired a new position in Western Midstream Partners during the 4th quarter worth $43,000. Finally, Retirement Group LLC lifted its stake in shares of Western Midstream Partners by 40.2% during the first quarter. Retirement Group LLC now owns 1,591 shares of the pipeline company’s stock valued at $57,000 after acquiring an additional 456 shares during the period. 42.94% of the stock is currently owned by institutional investors and hedge funds.

Western Midstream Partners Trading Up 1.4 %

Shares of NYSE WES opened at $38.04 on Friday. Western Midstream Partners has a 12-month low of $25.04 and a 12-month high of $38.34. The company has a market cap of $14.47 billion, a price-to-earnings ratio of 10.72 and a beta of 2.82. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 2.15. The stock’s 50 day simple moving average is $35.40 and its 200 day simple moving average is $31.31.

Western Midstream Partners (NYSE:WESGet Free Report) last issued its quarterly earnings data on Wednesday, May 8th. The pipeline company reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.62. Western Midstream Partners had a return on equity of 44.76% and a net margin of 42.50%. The business had revenue of $887.73 million during the quarter, compared to the consensus estimate of $868.22 million. During the same period in the previous year, the firm posted $0.52 earnings per share. The business’s revenue was up 20.9% on a year-over-year basis. Equities research analysts expect that Western Midstream Partners will post 3.64 EPS for the current year.

Western Midstream Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were issued a dividend of $0.875 per share. This is a positive change from Western Midstream Partners’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Tuesday, April 30th. This represents a $3.50 dividend on an annualized basis and a dividend yield of 9.20%. Western Midstream Partners’s dividend payout ratio is currently 98.59%.

About Western Midstream Partners

(Get Free Report

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.

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Analyst Recommendations for Western Midstream Partners (NYSE:WES)

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