Western Midstream Partners (NYSE:WES) Reaches New 52-Week High at $39.79

Western Midstream Partners, LP (NYSE:WESGet Free Report)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $39.79 and last traded at $39.72, with a volume of 444872 shares trading hands. The stock had previously closed at $39.35.

Analysts Set New Price Targets

Several brokerages have commented on WES. Raymond James reiterated a “market perform” rating on shares of Western Midstream Partners in a research note on Tuesday, March 19th. Mizuho increased their price target on shares of Western Midstream Partners from $34.00 to $39.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. Wells Fargo & Company increased their price objective on Western Midstream Partners from $34.00 to $35.00 and gave the company an “equal weight” rating in a report on Tuesday, May 21st. Wolfe Research raised Western Midstream Partners from an “underperform” rating to a “peer perform” rating in a report on Thursday, April 18th. Finally, StockNews.com raised Western Midstream Partners from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 18th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $31.55.

View Our Latest Stock Analysis on WES

Western Midstream Partners Trading Up 0.8 %

The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 2.15. The company has a fifty day moving average of $36.90 and a two-hundred day moving average of $33.10. The stock has a market capitalization of $15.09 billion, a price-to-earnings ratio of 11.08, a P/E/G ratio of 0.69 and a beta of 2.85.

Western Midstream Partners (NYSE:WESGet Free Report) last issued its quarterly earnings results on Wednesday, May 8th. The pipeline company reported $1.47 earnings per share 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 firm had revenue of $887.73 million during the quarter, compared to the consensus estimate of $868.22 million. During the same period last year, the company earned $0.52 earnings per share. The company’s revenue for the quarter was up 20.9% on a year-over-year basis. On average, research analysts expect that Western Midstream Partners, LP will post 4.1 EPS for the current year.

Western Midstream Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were given a $0.875 dividend. This is a boost 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 annualized dividend and a yield of 8.82%. Western Midstream Partners’s dividend payout ratio is presently 98.59%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of WES. Alps Advisors Inc. raised its position in Western Midstream Partners by 13.0% in the third quarter. Alps Advisors Inc. now owns 33,519,544 shares of the pipeline company’s stock worth $912,737,000 after acquiring an additional 3,855,558 shares in the last quarter. Jennison Associates LLC raised its position in Western Midstream Partners by 96.0% in the first quarter. Jennison Associates LLC now owns 1,928,179 shares of the pipeline company’s stock worth $68,547,000 after acquiring an additional 944,494 shares in the last quarter. Kayne Anderson Capital Advisors LP raised its position in Western Midstream Partners by 27.4% in the first quarter. Kayne Anderson Capital Advisors LP now owns 4,165,829 shares of the pipeline company’s stock worth $148,095,000 after acquiring an additional 895,715 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Western Midstream Partners by 14.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,280,595 shares of the pipeline company’s stock worth $183,770,000 after acquiring an additional 802,709 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in Western Midstream Partners by 15.8% in the third quarter. JPMorgan Chase & Co. now owns 4,571,428 shares of the pipeline company’s stock worth $124,480,000 after acquiring an additional 622,108 shares in the last quarter. Hedge funds and other institutional investors own 42.94% of the company’s stock.

Western Midstream Partners Company Profile

(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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