Western Midstream Partners (NYSE:WES) Reaches New 52-Week High at $36.39

Western Midstream Partners, LP (NYSE:WES - Get Free Report) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $36.39 and last traded at $36.30, with a volume of 211269 shares. The stock had previously closed at $35.95.

Wall Street Analysts Forecast Growth

WES has been the subject of several research analyst reports. Bank of America lowered Western Midstream Partners from a "buy" rating to an "underperform" rating and cut their price objective for the stock from $30.00 to $27.00 in a report on Wednesday, December 13th. Stifel Nicolaus lifted their price objective on Western Midstream Partners from $35.00 to $36.00 and gave the stock a "buy" rating in a report on Friday, February 23rd. Citigroup lowered Western Midstream Partners from a "buy" rating to a "neutral" rating and lifted their price objective for the stock from $30.00 to $34.00 in a report on Thursday, February 29th. Finally, Raymond James reaffirmed a "market perform" rating on shares of Western Midstream Partners in a report on Tuesday, March 19th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $30.75.

Western Midstream Partners Stock Up 0.2 %

The company has a 50-day moving average price of $32.23 and a 200 day moving average price of $29.42. The firm has a market capitalization of $13.71 billion, a PE ratio of 13.86 and a beta of 2.83. The company has a debt-to-equity ratio of 2.40, a current ratio of 0.76 and a quick ratio of 0.76.

Western Midstream Partners (NYSE:WES - Get Free Report) last announced its quarterly earnings data on Wednesday, February 21st. The pipeline company reported $0.74 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.04). Western Midstream Partners had a net margin of 32.72% and a return on equity of 33.58%. The business had revenue of $858.21 million during the quarter, compared to analysts' expectations of $850.23 million. During the same quarter in the previous year, the firm earned $0.85 earnings per share. Western Midstream Partners's revenue was up 10.1% on a year-over-year basis. Analysts forecast that Western Midstream Partners, LP will post 3.44 earnings per share for the current year.

Western Midstream Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 13th. Stockholders of record on Thursday, February 1st were given a $0.575 dividend. The ex-dividend date was Wednesday, January 31st. This represents a $2.30 annualized dividend and a dividend yield of 6.38%. Western Midstream Partners's payout ratio is 88.46%.

Insider Activity

In other Western Midstream Partners news, Director Lisa A. Stewart acquired 2,500 shares of the stock in a transaction dated Wednesday, March 6th. The shares were acquired at an average cost of $34.87 per share, for a total transaction of $87,175.00. Following the completion of the transaction, the director now directly owns 30,730 shares of the company's stock, valued at $1,071,555.10. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Lisa A. Stewart bought 2,500 shares of the firm's stock in a transaction that occurred on Wednesday, March 6th. The shares were bought at an average cost of $34.87 per share, for a total transaction of $87,175.00. Following the completion of the transaction, the director now owns 30,730 shares of the company's stock, valued at $1,071,555.10. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kenneth F. Owen bought 7,000 shares of the firm's stock in a transaction that occurred on Monday, February 26th. The stock was purchased at an average price of $33.96 per share, for a total transaction of $237,720.00. Following the completion of the transaction, the director now directly owns 32,730 shares of the company's stock, valued at approximately $1,111,510.80. The disclosure for this purchase can be found here. Company insiders own 0.04% of the company's stock.

Institutional Investors Weigh In On Western Midstream Partners

A number of hedge funds have recently made changes to their positions in WES. Larson Financial Group LLC bought a new stake in Western Midstream Partners during the third quarter worth approximately $27,000. Tower Research Capital LLC TRC bought a new stake in Western Midstream Partners during the first quarter worth approximately $27,000. Retirement Group LLC increased its stake in Western Midstream Partners by 52.4% during the second quarter. Retirement Group LLC now owns 1,105 shares of the pipeline company's stock worth $29,000 after acquiring an additional 380 shares during the last quarter. Ronald Blue Trust Inc. bought a new stake in Western Midstream Partners during the third quarter worth approximately $32,000. Finally, Fortitude Family Office LLC bought a new stake in Western Midstream Partners during the fourth quarter worth approximately $43,000. 42.94% of the stock is currently owned by hedge funds and other institutional investors.

About Western Midstream Partners

Western Midstream Partners, LP, together with its subsidiaries, operates as a midstream energy company primarily in the United States. It is involved in gathering, compressing, treating, processing, and transporting natural gas; gathering, stabilizing, and transporting condensate, natural gas liquids (NGLs), and crude oil; and gathering and disposing produced water.