Western Midstream Partners (NYSE:WES) Cut to Hold at Wall Street Zen

Key Points

• Wall Street Zen downgraded Western Midstream Partners from “buy” to “hold.” Despite the downgrade, analysts’ overall consensus remains “Moderate Buy,” with an average price target of $49.89.
• Western Midstream reported stronger-than-expected quarterly results, posting $0.99 EPS versus the $0.91 estimate and $1.22 billion in revenue, up 30% year over year.
• WES shares opened at $44.60, with a 12-month trading range of $36.90 to $50.07. Institutional investors own approximately 84.82% of the company, while an insider recently purchased 5,140 shares.

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

A number of other analysts have also weighed in on WES. Royal Bank Of Canada raised their price target on shares of Western Midstream Partners from $41.00 to $47.00 and gave the company a "sector perform" rating in a report on Monday, August 24th. Morgan Stanley boosted their price objective on shares of Western Midstream Partners from $51.00 to $55.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 18th. UBS Group upped their price objective on Western Midstream Partners from $45.00 to $48.00 and gave the stock a "neutral" rating in a report on Friday, July 10th. Wells Fargo & Company increased their price objective on Western Midstream Partners from $43.00 to $46.00 and gave the company an "equal weight" rating in a research report on Monday, August 10th. Finally, Zacks Research upgraded Western Midstream Partners from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $49.89.

Western Midstream Partners Stock Up 1.0%

Shares of NYSE WES opened at $44.60 on Friday. Western Midstream Partners has a 12-month low of $36.90 and a 12-month high of $50.07. The firm's 50-day simple moving average is $47.20 and its 200 day simple moving average is $45.08. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 2.02. The company has a market cap of $18.43 billion, a price-to-earnings ratio of 13.88, a price-to-earnings-growth ratio of 1.19 and a beta of 0.74.

Western Midstream Partners (NYSE:WES - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The pipeline company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.08. Western Midstream Partners had a net margin of 29.44% and a return on equity of 33.13%. The firm had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $1.13 billion. During the same quarter last year, the company posted $0.87 EPS. The company's quarterly revenue was up 30.0% compared to the same quarter last year. On average, research analysts expect that Western Midstream Partners will post 3.67 earnings per share for the current fiscal year.

Insider Transactions at Western Midstream Partners

In other Western Midstream Partners news, Director Frederick Forthuber bought 5,140 shares of Western Midstream Partners stock in a transaction dated Wednesday, August 12th. The shares were bought at an average price of $48.62 per share, with a total value of $249,906.80. Following the purchase, the director owned 5,140 shares of the company's stock, valued at $249,906.80. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.04% of the company's stock.

Institutional Investors Weigh In On Western Midstream Partners

A number of institutional investors and hedge funds have recently modified their holdings of the business. Pension & Wealth Management Advisors Inc. bought a new position in shares of Western Midstream Partners in the 3rd quarter worth $25,000. Ellsworth Advisors LLC grew its stake in shares of Western Midstream Partners by 4.0% during the third quarter. Ellsworth Advisors LLC now owns 179,385 shares of the pipeline company's stock worth $7,959,000 after purchasing an additional 6,956 shares during the period. Curated Wealth Partners LLC bought a new stake in Western Midstream Partners in the third quarter valued at about $284,000. Sanders Morris Harris LLC bought a new stake in Western Midstream Partners in the third quarter valued at about $305,000. Finally, Ulland Investment Advisors LLC increased its holdings in Western Midstream Partners by 2.4% in the third quarter. Ulland Investment Advisors LLC now owns 15,000 shares of the pipeline company's stock valued at $666,000 after purchasing an additional 350 shares during the last quarter. 84.82% of the stock is owned by institutional investors.

Western Midstream Partners Company Profile

Western Midstream Partners, LP NYSE: WES is a publicly traded master limited partnership that owns and operates midstream energy infrastructure in the United States. The company provides services that connect oil and natural gas production with processing facilities, pipelines, storage systems and end markets.

Its operations include the gathering, processing, treating, transportation and storage of natural gas, natural gas liquids and crude oil. Western Midstream also provides gathering and disposal services for produced water, a byproduct of oil and gas production.

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