Western Midstream Partners (NYSE:WES) Hits New 12-Month High – What’s Next?

Western Midstream Partners, LP (NYSE:WES) hit a new 52-week high during trading on Wednesday . The stock traded as high as $44.34 and last traded at $44.06, with a volume of 2819001 shares trading hands. The stock had previously closed at $43.43.

Wall Street Analysts Forecast Growth

WES has been the topic of several recent analyst reports. Wells Fargo & Company dropped their target price on shares of Western Midstream Partners from $40.00 to $39.00 and set an “equal weight” rating for the company in a report on Thursday, January 22nd. Royal Bank Of Canada boosted their target price on Western Midstream Partners from $39.00 to $42.00 and gave the stock a “sector perform” rating in a research report on Friday, November 28th. Wall Street Zen downgraded Western Midstream Partners from a “buy” rating to a “hold” rating in a research note on Saturday, December 27th. Finally, Stifel Nicolaus lowered their price objective on shares of Western Midstream Partners from $43.00 to $42.00 and set a “hold” rating on the stock in a research note on Friday. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $41.17.

Western Midstream Partners Trading Down 5.8%

The business has a 50-day moving average of $40.78 and a 200 day moving average of $39.36. The stock has a market cap of $16.88 billion, a PE ratio of 13.79 and a beta of 0.77. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.43 and a current ratio of 1.43.

Western Midstream Partners (NYSE:WES) last released its quarterly earnings results on Wednesday, February 18th. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.44). The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.06 billion. Western Midstream Partners had a return on equity of 35.21% and a net margin of 30.52%.Western Midstream Partners’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.85 earnings per share. Equities research analysts predict that Western Midstream Partners, LP will post 4.02 EPS for the current fiscal year.

Western Midstream Partners Dividend Announcement

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

Insider Buying and Selling

In related news, SVP Christopher B. Dial sold 5,879 shares of the stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $42.35, for a total transaction of $248,975.65. Following the transaction, the senior vice president directly owned 185,011 shares in the company, valued at approximately $7,835,215.85. This represents a 3.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.04% of the company’s stock.

Institutional Investors Weigh In On Western Midstream Partners

Several hedge funds have recently modified their holdings of the stock. Ameriflex Group Inc. purchased a new position in Western Midstream Partners during the fourth quarter worth approximately $156,000. Beacon Pointe Advisors LLC raised its position in shares of Western Midstream Partners by 3.6% in the 4th quarter. Beacon Pointe Advisors LLC now owns 36,140 shares of the pipeline company’s stock worth $1,428,000 after buying an additional 1,240 shares during the period. NewEdge Advisors LLC boosted its holdings in Western Midstream Partners by 6.1% in the fourth quarter. NewEdge Advisors LLC now owns 58,973 shares of the pipeline company’s stock valued at $2,329,000 after acquiring an additional 3,415 shares during the last quarter. Empowered Funds LLC increased its stake in Western Midstream Partners by 24.1% during the fourth quarter. Empowered Funds LLC now owns 236,768 shares of the pipeline company’s stock worth $9,352,000 after acquiring an additional 45,930 shares during the last quarter. Finally, Garton & Associates Financial Advisors LLC acquired a new stake in Western Midstream Partners during the fourth quarter worth about $32,000. 84.82% of the stock is owned by institutional investors and hedge funds.

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.