Wall Street Zen Upgrades Western Midstream Partners (NYSE:WES) to "Buy"

Key Points

• Wall Street Zen upgraded Western Midstream Partners to “Buy” from “Hold.” Other analysts remain mostly neutral, resulting in a consensus “Moderate Buy” rating and an average price target of $49.25.
• Western Midstream shares opened at $48.98, near their 52-week high of $50.07. The company recently exceeded quarterly expectations, reporting $0.99 in earnings per share versus the $0.91 estimate and $1.22 billion in revenue, up 30% year over year.
• Director Frederick Forthuber purchased 5,140 shares for approximately $249,907, while institutional investors and hedge funds collectively own 84.82% of the company.

Western Midstream Partners (NYSE:WES - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Saturday, Wall Street Zen reports.

Other research analysts also recently issued reports about the company. Royal Bank Of Canada lifted their target price on Western Midstream Partners from $41.00 to $47.00 and gave the stock a "sector perform" rating in a research note on Monday, August 24th. Citigroup increased their price target on Western Midstream Partners from $42.00 to $45.00 and gave the company a "neutral" rating in a research note on Tuesday, August 11th. US Capital Advisors raised 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 shares of Western Midstream Partners from $45.00 to $48.00 and gave the stock a "neutral" rating in a research report on Friday, July 10th. Finally, JPMorgan Chase & Co. upped their price objective 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. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $49.25.

Western Midstream Partners Trading Up 1.6%

Western Midstream Partners stock opened at $48.98 on Friday. Western Midstream Partners has a 52 week low of $36.90 and a 52 week high of $50.07. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market capitalization of $20.24 billion, a P/E ratio of 15.40, a PEG ratio of 1.42 and a beta of 0.69. The stock has a 50-day simple moving average of $47.48 and a 200 day simple moving average of $44.34.

Western Midstream Partners (NYSE:WES - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The pipeline company reported $0.99 earnings per share for the quarter, topping analysts' consensus estimates of $0.91 by $0.08. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.13 billion. Western Midstream Partners had a return on equity of 33.13% and a net margin of 29.44%.The business's revenue was up 30.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.87 earnings per share. Analysts expect that Western Midstream Partners will post 3.66 earnings per share for the current year.

Insider Activity

In related news, Director Frederick Forthuber purchased 5,140 shares of the business's stock in a transaction that occurred on Wednesday, August 12th. The stock was acquired at an average cost of $48.62 per share, for a total transaction of $249,906.80. Following the completion of the purchase, the director owned 5,140 shares in the company, valued at approximately $249,906.80. This represents a ∞ increase in their position. The transaction was disclosed in a 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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Western Midstream Partners during the 4th quarter valued at $27,000. Rothschild Investment LLC increased its position in shares of Western Midstream Partners by 76.2% in the fourth 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 acquired a new position in Western Midstream Partners in the fourth quarter valued at about $32,000. Glen Eagle Advisors LLC raised its stake in Western Midstream Partners by 843.0% in the fourth quarter. Glen Eagle Advisors LLC now owns 943 shares of the pipeline company's stock valued at $37,000 after purchasing an additional 843 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new stake in Western Midstream Partners during the fourth quarter worth about $40,000. 84.82% of the stock is owned by institutional investors and hedge funds.

Western Midstream Partners Company Profile

Western Midstream Partners, L.P. NYSE: WES is a publicly traded master limited partnership that owns, operates and develops midstream energy assets. The company provides gathering, processing, treating, compression, transportation and storage services for natural gas, crude oil, natural gas liquids and produced water.

Western Midstream's infrastructure includes gathering systems, processing plants, pipelines, compressor stations, treatment facilities, storage assets and water-handling systems.

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