Western Midstream Partners (NYSE:WES) Share Price Breaks Above Two Hundred Day Moving Average - Here's Why

Key Points

• Western Midstream Partners shares moved above their 200-day moving average, reaching $45.63 compared with the $44.74 average, though the stock later traded around $45.32.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and average price target of $49.89; several firms set targets as high as $55.
• The company reported quarterly earnings and revenue above expectations and pays an annualized $3.72 dividend per share, yielding about 8.2%, although its payout ratio exceeds 100%.

Western Midstream Partners, LP (NYSE:WES - Get Free Report) shares passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $44.74 and traded as high as $45.63. Western Midstream Partners shares last traded at $45.3240, with a volume of 911,782 shares trading hands.

Wall Street Analysts Forecast Growth

WES has been the topic of a number of research reports. Truist Financial started coverage on shares of Western Midstream Partners in a research report on Thursday, September 17th. They set a "buy" rating and a $55.00 target price on the stock. Royal Bank Of Canada raised their price target on shares of Western Midstream Partners from $41.00 to $47.00 and gave the stock a "sector perform" rating in a research report on Monday, August 24th. Stifel Nicolaus assumed coverage on shares of Western Midstream Partners in a report on Thursday, September 10th. They set a "buy" rating and a $55.00 price objective on the stock. Wall Street Zen lowered shares of Western Midstream Partners from a "buy" rating to a "hold" rating in a research report on Sunday, September 20th. Finally, JPMorgan Chase & Co. increased their target price on shares of Western Midstream Partners from $46.00 to $47.00 and gave the company a "neutral" rating in a research note on Tuesday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Western Midstream Partners currently has a consensus rating of "Moderate Buy" and an average price target of $49.89.

Western Midstream Partners Stock Down 0.6%

The business has a 50 day moving average of $47.72 and a 200 day moving average of $44.74. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market capitalization of $18.73 billion, a price-to-earnings ratio of 14.25, a price-to-earnings-growth ratio of 1.34 and a beta of 0.69.

Western Midstream Partners (NYSE:WES - Get Free Report) last issued its earnings results on Wednesday, August 5th. The pipeline company reported $0.99 EPS for the quarter, topping 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 firm had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $1.13 billion. During the same period last year, the business earned $0.87 earnings per share. Western Midstream Partners's quarterly revenue was up 30.0% compared to the same quarter last year. On average, equities analysts anticipate that Western Midstream Partners, LP will post 3.66 EPS for the current year.

Western Midstream Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 8.2%. The ex-dividend date of this dividend was Friday, July 31st. Western Midstream Partners's dividend payout ratio (DPR) is presently 116.98%.

Insider Activity at Western Midstream Partners

In other Western Midstream Partners news, Director Frederick Forthuber bought 5,140 shares of the firm's stock in a transaction dated Wednesday, August 12th. The shares were acquired at an average cost of $48.62 per share, for a total transaction of $249,906.80. Following the transaction, the director owned 5,140 shares in the company, valued at approximately $249,906.80. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.04% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in WES. Rothschild Investment LLC grew its stake in shares of Western Midstream Partners by 76.2% in the 4th quarter. Rothschild Investment LLC now owns 793 shares of the pipeline company's stock valued at $31,000 after purchasing an additional 343 shares during the period. Glen Eagle Advisors LLC raised its holdings in shares of Western Midstream Partners by 843.0% in the 4th quarter. Glen Eagle Advisors LLC now owns 943 shares of the pipeline company's stock worth $37,000 after buying an additional 843 shares in the last quarter. Continuum Advisory LLC acquired a new position in shares of Western Midstream Partners in the 2nd quarter worth approximately $41,000. Toth Financial Advisory Corp lifted its position in shares of Western Midstream Partners by 209.4% during the 2nd 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 period. Finally, Compass Financial Management LLC bought a new position in shares of Western Midstream Partners during the 2nd quarter worth approximately $132,000. Institutional investors and hedge funds own 84.82% of the company's stock.

About Western Midstream Partners

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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