Western Midstream Partners (NYSE:WES) Price Target Lowered to $42.00 at Stifel Nicolaus

Western Midstream Partners (NYSE:WESFree Report) had its target price cut by Stifel Nicolaus from $43.00 to $42.00 in a research note released on Friday morning, Marketbeat Ratings reports. They currently have a hold rating on the pipeline company’s stock.

Other equities analysts also recently issued reports about the stock. Royal Bank Of Canada raised their price objective on shares of Western Midstream Partners from $39.00 to $42.00 and gave the stock a “sector perform” rating in a report on Friday, November 28th. Wall Street Zen cut shares of Western Midstream Partners from a “buy” rating to a “hold” rating in a research note on Saturday, December 27th. Finally, Wells Fargo & Company lowered their price objective on Western Midstream Partners from $40.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Western Midstream Partners currently has a consensus rating of “Hold” and an average price target of $41.17.

Check Out Our Latest Report on Western Midstream Partners

Western Midstream Partners Price Performance

Shares of WES stock opened at $41.10 on Friday. Western Midstream Partners has a 12 month low of $33.60 and a 12 month high of $44.74. The company has a market capitalization of $16.18 billion, a P/E ratio of 13.70 and a beta of 0.77. The stock has a 50 day moving average of $40.81 and a two-hundred day moving average of $39.37. The company has a current ratio of 1.34, a quick ratio of 1.43 and a debt-to-equity ratio of 1.97.

Western Midstream Partners (NYSE:WESGet Free Report) last issued its earnings results on Wednesday, February 18th. The pipeline company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.44). The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.06 billion. Western Midstream Partners had a net margin of 30.52% and a return on equity of 33.14%. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.85 earnings per share. As a group, equities analysts expect that Western Midstream Partners will post 4.02 EPS for the current year.

Western Midstream Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 2nd were issued a dividend of $0.91 per share. The ex-dividend date of this dividend was Monday, February 2nd. This represents a $3.64 annualized dividend and a dividend yield of 8.9%. Western Midstream Partners’s dividend payout ratio (DPR) is presently 107.69%.

Insider Activity

In other news, SVP Christopher B. Dial sold 5,879 shares of the business’s stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $42.35, for a total value of $248,975.65. Following the transaction, the senior vice president directly owned 185,011 shares of the company’s stock, valued at $7,835,215.85. The trade was a 3.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.04% of the company’s stock.

Hedge Funds Weigh In On Western Midstream Partners

Institutional investors have recently bought and sold shares of the business. Texas Yale Capital Corp. increased its position in Western Midstream Partners by 6.8% in the 3rd quarter. Texas Yale Capital Corp. now owns 575,809 shares of the pipeline company’s stock valued at $22,624,000 after acquiring an additional 36,438 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of Western Midstream Partners by 18.9% during the third quarter. Advisors Asset Management Inc. now owns 186,853 shares of the pipeline company’s stock valued at $7,341,000 after purchasing an additional 29,754 shares during the last quarter. Caprock Group LLC acquired a new stake in shares of Western Midstream Partners in the third quarter valued at approximately $1,158,000. Catalyst Capital Advisors LLC raised its position in Western Midstream Partners by 2.4% in the 2nd quarter. Catalyst Capital Advisors LLC now owns 472,420 shares of the pipeline company’s stock worth $18,283,000 after purchasing an additional 11,055 shares during the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its position in Western Midstream Partners by 5.6% in the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,270,900 shares of the pipeline company’s stock worth $49,934,000 after purchasing an additional 67,000 shares during the last quarter. Institutional investors own 84.82% of the company’s stock.

Trending Headlines about Western Midstream Partners

Here are the key news stories impacting Western Midstream Partners this week:

Western Midstream Partners Company Profile

(Get Free Report)

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.

Featured Stories

Analyst Recommendations for Western Midstream Partners (NYSE:WES)

Receive News & Ratings for Western Midstream Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Midstream Partners and related companies with MarketBeat.com's FREE daily email newsletter.