Brokerages Set Western Midstream Partners, LP (NYSE:WES) Target Price at $47.00

Western Midstream Partners, LP (NYSE:WES) has received a consensus recommendation of “Moderate Buy” from the ten ratings firms that are covering the company, Marketbeat reports. Six investment analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $47.50.

Several brokerages have issued reports on WES. Morgan Stanley lifted their price target on Western Midstream Partners from $51.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Tuesday. UBS Group raised their price objective on Western Midstream Partners from $45.00 to $48.00 and gave the company a “neutral” rating in a report on Friday, July 10th. Wells Fargo & Company boosted their target price on Western Midstream Partners from $43.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Monday, August 10th. JPMorgan Chase & Co. upped their target price on Western Midstream Partners from $46.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. Finally, Stifel Nicolaus set a $46.00 price target on shares of Western Midstream Partners and gave the stock a “buy” rating in a research note on Thursday, May 7th.

Western Midstream Partners Price Performance

Shares of NYSE:WES opened at $48.77 on Friday. The company’s fifty day moving average price is $45.78 and its 200-day moving average price is $43.59. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market capitalization of $20.15 billion, a price-to-earnings ratio of 15.34, a PEG ratio of 1.45 and a beta of 0.68. Western Midstream Partners has a one year low of $36.90 and a one year high of $50.07.

Western Midstream Partners (NYSE:WES) last posted its quarterly earnings data on Wednesday, August 5th. The pipeline company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.08. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.13 billion. Western Midstream Partners had a net margin of 29.44% and a return on equity of 33.13%. The firm’s revenue was up 30.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.87 EPS. On average, equities research analysts anticipate that Western Midstream Partners will post 3.63 earnings per share for the current fiscal year.

Western Midstream Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were given a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 7.6%. The ex-dividend date was Friday, July 31st. Western Midstream Partners’s dividend payout ratio (DPR) is presently 116.98%.

Insiders Place Their Bets

In other Western Midstream Partners news, Director Frederick A. Forthuber purchased 5,140 shares of the business’s stock in a transaction on Wednesday, August 12th. The stock was acquired at an average cost of $48.62 per share, for a total transaction of $249,906.80. Following the completion of the transaction, the director directly owned 5,140 shares in the company, valued at approximately $249,906.80. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.04% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Western Midstream Partners

Hedge funds and other institutional investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. purchased a new position in Western Midstream Partners in the 4th quarter worth approximately $27,000. Rothschild Investment LLC boosted its stake in shares of Western Midstream Partners by 76.2% during the fourth quarter. Rothschild Investment LLC now owns 793 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 343 shares during the period. Garton & Associates Financial Advisors LLC bought a new position in shares of Western Midstream Partners in the fourth quarter worth approximately $32,000. Glen Eagle Advisors LLC increased its stake in shares of Western Midstream Partners by 843.0% in the fourth quarter. Glen Eagle Advisors LLC now owns 943 shares of the pipeline company’s stock worth $37,000 after buying an additional 843 shares during the period. Finally, International Assets Investment Management LLC purchased a new position in shares of Western Midstream Partners in the fourth quarter worth $40,000. Institutional investors own 84.82% of the company’s stock.

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.