Western Midstream Partners (NYSE:WES) Rating Lowered to “Hold” at Wall Street Zen

Western Midstream Partners (NYSE:WES) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Other equities analysts have also issued reports about the company. Morgan Stanley raised Western Midstream Partners from an “underweight” rating to an “equal weight” rating and set a $51.00 price objective on the stock in a research note on Wednesday, June 10th. Wells Fargo & Company increased their target price on shares of Western Midstream Partners from $41.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 13th. JPMorgan Chase & Co. raised their price target on shares of Western Midstream Partners from $46.00 to $47.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. UBS Group lifted their price target on shares of Western Midstream Partners from $45.00 to $48.00 and gave the company a “neutral” rating in a research report on Friday, July 10th. Finally, Citigroup boosted their price objective on shares of Western Midstream Partners from $39.00 to $42.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Western Midstream Partners currently has a consensus rating of “Hold” and an average price target of $46.25.

Western Midstream Partners Trading Up 0.1%

WES stock opened at $46.68 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 2.34. The company has a market cap of $19.29 billion, a price-to-earnings ratio of 14.68, a PEG ratio of 1.92 and a beta of 0.68. The business has a fifty day simple moving average of $44.95 and a 200-day simple moving average of $43.10. Western Midstream Partners has a 52 week low of $36.90 and a 52 week high of $48.63.

Western Midstream Partners (NYSE:WES) last issued its earnings results on Wednesday, August 5th. The pipeline company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.08. Western Midstream Partners had a return on equity of 34.79% and a net margin of 29.44%.The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter last year, the firm earned $0.87 earnings per share. The firm’s revenue for the quarter was up 30.0% compared to the same quarter last year. On average, equities research analysts expect that Western Midstream Partners will post 3.52 EPS for the current year.

Institutional Investors Weigh In On Western Midstream Partners

A number of large investors have recently modified their holdings of the stock. Eagle Bay Advisors LLC acquired a new position in Western Midstream Partners during the 4th quarter worth approximately $27,000. Northwestern Mutual Wealth Management Co. acquired a new stake in Western Midstream Partners in the fourth quarter valued at approximately $27,000. Rothschild Investment LLC raised 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 purchased a new stake in shares of Western Midstream Partners during the fourth quarter valued at approximately $32,000. Finally, Glen Eagle Advisors LLC lifted its position in shares of Western Midstream Partners by 843.0% during the fourth quarter. Glen Eagle Advisors LLC now owns 943 shares of the pipeline company’s stock worth $37,000 after purchasing an additional 843 shares in the last quarter. Institutional investors and hedge funds own 84.82% of the company’s stock.

Western Midstream Partners Company Profile

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.