Western Midstream Partners (NYSE:WES) Given New $52.00 Price Target at Morgan Stanley

Key Points

• Morgan Stanley lowered its price target for Western Midstream Partners from $55 to $52 while maintaining an “equal weight” rating, implying roughly 16% upside from the reported $44.78 share price.
• Analyst sentiment remains generally positive, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $49.89; several firms recently initiated or maintained Buy-equivalent ratings.
• Western Midstream reported quarterly EPS of $0.99 versus the $0.91 consensus estimate, while revenue rose 30% year over year to $1.22 billion. Institutional investors own approximately 84.82% of the company.

Western Midstream Partners (NYSE:WES - Get Free Report) had its price objective decreased by equities research analysts at Morgan Stanley from $55.00 to $52.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an "equal weight" rating on the pipeline company's stock. Morgan Stanley's target price points to a potential upside of 16.13% from the company's current price.

Several other brokerages also recently commented on WES. Royal Bank Of Canada upped their target price on Western Midstream Partners from $41.00 to $47.00 and gave the company a "sector perform" rating in a report on Monday, August 24th. Truist Financial began coverage on Western Midstream Partners in a report on Thursday, September 17th. They set a "buy" rating and a $55.00 price objective on the stock. Stifel Nicolaus started coverage on shares of Western Midstream Partners in a research note on Thursday, September 10th. They set a "buy" rating and a $55.00 price objective for the company. Zacks Research raised shares of Western Midstream Partners from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 13th. Finally, Mizuho lifted their target price on shares of Western Midstream Partners from $48.00 to $51.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 14th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $49.89.

Western Midstream Partners Price Performance

Western Midstream Partners stock traded up $0.25 during mid-day trading on Wednesday, hitting $44.78. The company's stock had a trading volume of 544,416 shares, compared to its average volume of 1,203,834. 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 stock has a market capitalization of $18.50 billion, a P/E ratio of 14.08, a P/E/G ratio of 1.19 and a beta of 0.74. Western Midstream Partners has a twelve month low of $36.90 and a twelve month high of $50.07. The stock's fifty day moving average price is $47.07 and its two-hundred day moving average price is $45.15.

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

Insider Transactions at Western Midstream Partners

In other news, Director Frederick Forthuber acquired 5,140 shares of Western Midstream Partners stock in a transaction that occurred on Wednesday, August 12th. The stock was purchased at an average price of $48.62 per share, with a total value of $249,906.80. Following the completion of the transaction, the director owned 5,140 shares in the company, valued at approximately $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 can be accessed through this hyperlink. Insiders own 0.04% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of WES. Pension & Wealth Management Advisors Inc. acquired a new position in Western Midstream Partners during the third quarter valued at approximately $25,000. Continuum Advisory LLC acquired a new stake in shares of Western Midstream Partners in the second quarter worth $41,000. Farther Finance Advisors LLC lifted its stake in shares of Western Midstream Partners by 37.9% in the third quarter. Farther Finance Advisors LLC now owns 924 shares of the pipeline company's stock worth $41,000 after buying an additional 254 shares during the last quarter. Toth Financial Advisory Corp lifted its stake in shares of Western Midstream Partners by 209.4% in the second quarter. Toth Financial Advisory Corp now owns 1,835 shares of the pipeline company's stock worth $80,000 after buying an additional 1,242 shares during the last quarter. Finally, Compass Financial Management LLC bought a new stake in shares of Western Midstream Partners during the 2nd quarter worth $132,000. 84.82% of the stock is owned by institutional investors and hedge funds.

About Western Midstream Partners

Western Midstream Partners, L.P. NYSE: WES is a master limited partnership that owns and operates midstream energy infrastructure in the United States. The company provides gathering, processing, transportation, storage and treating services for natural gas, crude oil, natural gas liquids and produced water.

Western Midstream's assets include gathering systems, processing plants, pipelines, storage facilities and water-handling infrastructure. These facilities connect oil and gas producers with downstream markets and are generally supported by long-term commercial arrangements.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.