Western Midstream Partners, LP (NYSE:WES) Stock Rated "Moderate Buy" by Sell-Side Brokerages

Key Points

• Western Midstream Partners has a “Moderate Buy” consensus rating from 11 analysts, with an average 12-month price target of $49.89 versus a recent price of $44.79.
• The company exceeded quarterly expectations, reporting $0.99 in EPS and $1.22 billion in revenue, with revenue up 30% year over year. Analysts expect full-year EPS of approximately $3.66.
• WES recently paid a quarterly dividend of $0.93, equivalent to an annualized yield of about 8.3%; institutional investors own 84.82% of outstanding shares, while a director recently purchased 5,140 shares.

Shares of Western Midstream Partners, LP (NYSE:WES - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the eleven research firms that are presently covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $49.89.

A number of research analysts have recently issued reports on WES shares. Zacks Research upgraded shares of Western Midstream Partners from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 13th. Morgan Stanley raised their price target on Western Midstream Partners from $51.00 to $55.00 and gave the company an "equal weight" rating in a report on Tuesday, August 18th. Mizuho lifted their price objective on Western Midstream Partners from $48.00 to $51.00 and gave the company an "outperform" rating in a research report on Tuesday, July 14th. Wall Street Zen raised Western Midstream Partners from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, Stifel Nicolaus assumed coverage on Western Midstream Partners in a report on Thursday, September 10th. They set a "buy" rating and a $55.00 target price on the stock.

Insider Activity

In related news, Director Frederick Forthuber acquired 5,140 shares of the company's stock in a transaction that occurred on Wednesday, August 12th. The stock was purchased at an average price of $48.62 per share, for a total transaction of $249,906.80. Following the transaction, the director directly owned 5,140 shares of the company's stock, valued at approximately $249,906.80. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.04% of the company's stock.

Institutional Investors Weigh In On Western Midstream Partners

Several hedge funds and other institutional investors have recently made changes to their positions in WES. Glen Eagle Advisors LLC lifted its stake 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 valued at $37,000 after acquiring an additional 843 shares during the period. Continuum Advisory LLC bought a new position in Western Midstream Partners in the second quarter valued at about $41,000. Toth Financial Advisory Corp increased its position in 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 purchasing an additional 1,242 shares during the period. Compass Financial Management LLC acquired a new stake in Western Midstream Partners in the second quarter worth about $132,000. Finally, Geneos Wealth Management Inc. raised its holdings in Western Midstream Partners by 126.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 3,587 shares of the pipeline company's stock worth $148,000 after purchasing an additional 2,000 shares during the last quarter. 84.82% of the stock is owned by institutional investors and hedge funds.

Western Midstream Partners Price Performance

NYSE:WES opened at $44.79 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 company has a 50-day moving average of $47.51 and a 200-day moving average of $44.82. The company has a market capitalization of $18.51 billion, a price-to-earnings ratio of 14.08, a PEG ratio of 1.31 and a beta of 0.74.

Western Midstream Partners (NYSE:WES - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The pipeline company reported $0.99 EPS for the quarter, beating the consensus estimate 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 business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the previous year, the firm earned $0.87 EPS. Western Midstream Partners's quarterly revenue was up 30.0% on a year-over-year basis. As a group, equities research analysts anticipate that Western Midstream Partners will post 3.66 earnings per share for the current fiscal year.

Western Midstream Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were paid a $0.93 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a $3.72 dividend on an annualized basis and a dividend yield of 8.3%. Western Midstream Partners's payout ratio is currently 116.98%.

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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