Western Midstream Partners (NYSE:WES) Upgraded by Morgan Stanley to “Equal Weight” Rating

Western Midstream Partners (NYSE:WES) was upgraded by analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a $51.00 target price on the pipeline company’s stock. Morgan Stanley’s price target indicates a potential upside of 17.08% from the stock’s current price.

Several other research firms have also recently weighed in on WES. JPMorgan Chase & Co. dropped their price objective on shares of Western Midstream Partners from $44.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, March 12th. Wells Fargo & Company lifted their target price on Western Midstream Partners from $41.00 to $43.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 13th. US Capital Advisors upgraded Western Midstream Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, May 29th. UBS Group lifted their price objective on Western Midstream Partners from $40.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, May 21st. Finally, Stifel Nicolaus set a $46.00 target price on shares of Western Midstream Partners and gave the company a “buy” rating in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Western Midstream Partners has a consensus rating of “Hold” and a consensus target price of $44.75.

Western Midstream Partners Stock Down 1.8%

WES opened at $43.56 on Wednesday. The company has a market capitalization of $17.15 billion, a P/E ratio of 14.24, a P/E/G ratio of 1.87 and a beta of 0.68. The firm’s fifty day moving average price is $42.93 and its two-hundred day moving average price is $41.48. Western Midstream Partners has a fifty-two week low of $36.90 and a fifty-two week high of $48.01. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.09 and a quick ratio of 1.09.

Western Midstream Partners (NYSE:WES) last posted its earnings results on Wednesday, May 6th. The pipeline company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.11. Western Midstream Partners had a net margin of 29.98% and a return on equity of 33.89%. The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the firm earned $0.79 EPS. The firm’s quarterly revenue was up 22.5% compared to the same quarter last year. On average, analysts anticipate that Western Midstream Partners will post 3.44 EPS for the current year.

Institutional Investors Weigh In On Western Midstream Partners

Large investors have recently modified their holdings of the business. Eagle Bay Advisors LLC bought a new stake in Western Midstream Partners during the 4th quarter worth approximately $27,000. Northwestern Mutual Wealth Management Co. bought a new stake in Western Midstream Partners in the 4th quarter valued at $27,000. Rothschild Investment LLC boosted its stake in Western Midstream Partners by 76.2% in the 4th quarter. Rothschild Investment LLC now owns 793 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 343 shares during the period. Garton & Associates Financial Advisors LLC bought a new position in Western Midstream Partners during the 4th quarter worth about $32,000. Finally, Global Wealth Strategies & Associates bought a new position in Western Midstream Partners during the 4th quarter worth about $35,000. 84.82% of the stock is currently owned by institutional investors.

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.