Western Midstream Partners, LP (NYSE:WES) Given Average Recommendation of "Hold" by Analysts

Key Points

• Western Midstream Partners has an average analyst rating of "Hold" from nine covering firms, with an average 12-month price target of $46.25.
• Recent analyst moves were mixed: US Capital Advisors upgraded the stock to strong-buy, while JPMorgan, Citigroup, and UBS kept neutral ratings but raised their price targets.
• The company posted better-than-expected earnings for the latest quarter, with EPS of $0.85 versus $0.74 expected and revenue of $1.12 billion versus $1.01 billion expected.

Shares of Western Midstream Partners, LP (NYSE:WES - Get Free Report) have received an average recommendation of "Hold" from the nine ratings firms that are currently covering the stock, Marketbeat reports. Six equities research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $46.25.

A number of analysts recently commented on the company. US Capital Advisors upgraded Western Midstream Partners from a "moderate buy" rating to a "strong-buy" rating in a research report on Friday, May 29th. JPMorgan Chase & Co. upped their target price on shares of Western Midstream Partners from $46.00 to $47.00 and gave the company a "neutral" rating in a report on Tuesday, July 14th. Mizuho raised their price target on shares of Western Midstream Partners from $48.00 to $51.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 14th. Citigroup lifted their price target on shares of Western Midstream Partners from $39.00 to $42.00 and gave the stock a "neutral" rating in a report on Tuesday, May 12th. Finally, UBS Group boosted their price objective on shares of Western Midstream Partners from $45.00 to $48.00 and gave the company a "neutral" rating in a research report on Friday, July 10th.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC boosted its holdings in shares of Western Midstream Partners by 6.4% during the second quarter. Geode Capital Management LLC now owns 8,525 shares of the pipeline company's stock worth $330,000 after purchasing an additional 512 shares during the last quarter. Creative Planning grew its position in shares of Western Midstream Partners by 17.0% in the second quarter. Creative Planning now owns 6,878 shares of the pipeline company's stock valued at $266,000 after purchasing an additional 999 shares during the period. Guggenheim Capital LLC increased its stake in Western Midstream Partners by 6.0% in the second quarter. Guggenheim Capital LLC now owns 23,029 shares of the pipeline company's stock valued at $891,000 after purchasing an additional 1,298 shares during the last quarter. Cerity Partners LLC increased its stake in Western Midstream Partners by 39.1% in the second quarter. Cerity Partners LLC now owns 25,003 shares of the pipeline company's stock valued at $968,000 after purchasing an additional 7,032 shares during the last quarter. Finally, NewEdge Advisors LLC acquired a new position in Western Midstream Partners in the second quarter valued at $2,172,000. 84.82% of the stock is currently owned by institutional investors and hedge funds.

Western Midstream Partners Trading Up 0.1%

Shares of Western Midstream Partners stock opened at $46.02 on Monday. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.09 and a quick ratio of 1.09. Western Midstream Partners has a 1 year low of $36.90 and a 1 year high of $48.01. The company has a market capitalization of $18.12 billion, a P/E ratio of 15.04, a P/E/G ratio of 1.93 and a beta of 0.68. The business has a 50 day moving average price of $44.48 and a 200 day moving average price of $42.43.

Western Midstream Partners (NYSE:WES - Get Free Report) last announced its earnings results on Wednesday, May 6th. The pipeline company reported $0.85 EPS for the quarter, beating analysts' consensus estimates of $0.74 by $0.11. The firm had revenue of $1.12 billion for the quarter, compared to analysts' expectations of $1.01 billion. Western Midstream Partners had a return on equity of 33.89% and a net margin of 29.98%.Western Midstream Partners's quarterly revenue was up 22.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.79 EPS. Sell-side analysts anticipate that Western Midstream Partners will post 3.45 EPS for the current fiscal year.

Western Midstream Partners Company Profile

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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