Western Midstream Partners, LP (NYSE:WES - Get Free Report)'s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $43.88 and traded as high as $48.30. Western Midstream Partners shares last traded at $48.26, with a volume of 426,997 shares trading hands.
Analyst Ratings Changes
WES has been the topic of several recent research reports. Royal Bank Of Canada raised their price target on Western Midstream Partners from $41.00 to $47.00 and gave the stock a "sector perform" rating in a research report on Monday. Zacks Research upgraded Western Midstream Partners from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 13th. Morgan Stanley increased their target price on Western Midstream Partners from $51.00 to $55.00 and gave the company an "equal weight" rating in a research note on Tuesday, August 18th. Mizuho raised their target price on Western Midstream Partners from $48.00 to $51.00 and gave the stock an "outperform" rating in a report on Tuesday, July 14th. Finally, Stifel Nicolaus set a $46.00 target price on Western Midstream Partners and gave the stock a "buy" rating in a research report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $48.12.
Read Our Latest Analysis on WES
Western Midstream Partners Stock Performance
The firm has a market cap of $19.94 billion, a P/E ratio of 15.18, a PEG ratio of 1.41 and a beta of 0.68. 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 stock's 50-day moving average is $46.34 and its 200 day moving average is $43.88.
Western Midstream Partners (NYSE:WES - Get Free Report) last posted its earnings results on Wednesday, August 5th. The pipeline company reported $0.99 earnings per share 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 for the quarter, compared to analyst estimates of $1.13 billion. During the same period in the previous year, the company posted $0.87 earnings per share. The company's revenue for the quarter was up 30.0% on a year-over-year basis. On average, research analysts predict that Western Midstream Partners, LP will post 3.64 earnings per share for the current year.
Western Midstream Partners Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were given a dividend of $0.93 per share. 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 7.7%. Western Midstream Partners's dividend payout ratio (DPR) is currently 116.98%.
Insider Buying and Selling at Western Midstream Partners
In other Western Midstream Partners news, Director Frederick A. Forthuber acquired 5,140 shares of the business's stock in a transaction dated Wednesday, August 12th. The shares were acquired at an average price of $48.62 per share, for a total transaction of $249,906.80. Following the acquisition, 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 can be accessed through this hyperlink. 0.04% of the stock is owned by company insiders.
Institutional Trading of Western Midstream Partners
Hedge funds have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. bought a new position in Western Midstream Partners in the fourth quarter valued at approximately $27,000. Rothschild Investment LLC increased its position in shares of Western Midstream Partners by 76.2% during the fourth quarter. Rothschild Investment LLC now owns 793 shares of the pipeline company's stock worth $31,000 after acquiring an additional 343 shares in the last quarter. Garton & Associates Financial Advisors LLC bought a new stake in shares of Western Midstream Partners during the fourth quarter worth $32,000. Glen Eagle Advisors LLC raised its holdings 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 worth $37,000 after acquiring an additional 843 shares during the period. Finally, International Assets Investment Management LLC acquired a new stake in shares of Western Midstream Partners during the fourth quarter worth $40,000. 84.82% of the stock is currently owned by institutional investors and hedge funds.
About Western Midstream Partners
(
Get Free Report)
Western Midstream Partners, LP NYSE: WES is a midstream energy infrastructure company that owns, operates and develops an integrated network of crude oil, natural gas and produced water gathering, processing, transportation and storage assets in the United States. The partnership's primary offerings include pipeline transportation, fractionation services, natural gas liquids (NGL) logistics and produced water handling. Through its fee-based and commodity-based contracts, Western Midstream provides its customers with essential services that support efficient energy production and distribution.
The company's asset portfolio spans key onshore basins, including the Delaware Basin in West Texas and southeastern New Mexico, the San Juan Basin in New Mexico and Colorado, and the Denver-Julesburg Basin in Colorado.
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