Analysts Set Western Midstream Partners, LP (NYSE:WES) Price Target at $41.50

Western Midstream Partners, LP (NYSE:WES) has received a consensus recommendation of “Hold” from the five research firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $41.50.

A number of brokerages have recently weighed in on WES. Mizuho raised their price objective on Western Midstream Partners from $44.00 to $46.00 and gave the company an “outperform” rating in a research report on Friday, August 29th. 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. Citigroup initiated coverage on Western Midstream Partners in a research note on Monday, October 20th. They set a “neutral” rating and a $39.00 price target for the company. Morgan Stanley reduced their price objective on Western Midstream Partners from $41.00 to $39.00 and set an “underweight” rating on the stock in a research note on Tuesday, August 26th. Finally, Wells Fargo & Company upped their price objective on Western Midstream Partners from $38.00 to $40.00 and gave the stock an “equal weight” rating in a report on Thursday, November 13th.

Hedge Funds Weigh In On Western Midstream Partners

Several institutional investors have recently bought and sold shares of WES. Daymark Wealth Partners LLC increased its holdings in shares of Western Midstream Partners by 0.6% in the 2nd quarter. Daymark Wealth Partners LLC now owns 45,774 shares of the pipeline company’s stock worth $1,771,000 after buying an additional 268 shares during the last quarter. Apollon Wealth Management LLC lifted its holdings in shares of Western Midstream Partners by 1.0% in the 2nd quarter. Apollon Wealth Management LLC now owns 26,382 shares of the pipeline company’s stock valued at $1,021,000 after acquiring an additional 269 shares during the last quarter. HB Wealth Management LLC grew its position in Western Midstream Partners by 4.0% in the third quarter. HB Wealth Management LLC now owns 7,900 shares of the pipeline company’s stock worth $310,000 after acquiring an additional 304 shares in the last quarter. Jaffetilchin Investment Partners LLC grew its position in Western Midstream Partners by 6.4% in the second quarter. Jaffetilchin Investment Partners LLC now owns 5,201 shares of the pipeline company’s stock worth $201,000 after acquiring an additional 312 shares in the last quarter. Finally, Bollard Group LLC increased its stake in Western Midstream Partners by 2.4% during the third quarter. Bollard Group LLC now owns 15,517 shares of the pipeline company’s stock worth $610,000 after acquiring an additional 359 shares during the last quarter. Institutional investors own 84.82% of the company’s stock.

Western Midstream Partners Trading Down 1.2%

Western Midstream Partners stock opened at $38.82 on Friday. Western Midstream Partners has a 1 year low of $33.60 and a 1 year high of $43.33. The firm’s 50 day moving average price is $38.63 and its 200-day moving average price is $38.74. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.43 and a quick ratio of 1.43. The stock has a market cap of $15.84 billion, a P/E ratio of 11.49 and a beta of 0.76.

Western Midstream Partners (NYSE:WES) last posted its earnings results on Tuesday, November 4th. The pipeline company reported $0.87 earnings per share for the quarter, meeting the consensus estimate 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 net margin of 35.18% and a return on equity of 39.37%. Western Midstream Partners’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the company posted $0.74 earnings per share. On average, equities analysts predict that Western Midstream Partners will post 4.02 earnings per share for the current fiscal year.

Western Midstream Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 31st were given a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 9.4%. The ex-dividend date was Friday, October 31st. Western Midstream Partners’s payout ratio is currently 107.69%.

Western Midstream Partners Company Profile

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.