Brokerages Set Western Midstream Partners, LP (NYSE:WES) PT at $39.83

Western Midstream Partners, LP (NYSE:WES - Get Free Report) has been assigned a consensus recommendation of "Reduce" from the six ratings firms that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $39.83.

Separately, Mizuho dropped their target price on Western Midstream Partners from $45.00 to $44.00 and set an "outperform" rating on the stock in a report on Tuesday, May 20th.

Institutional Investors Weigh In On Western Midstream Partners

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC raised its stake in Western Midstream Partners by 4.7% during the 4th quarter. Integrated Wealth Concepts LLC now owns 6,833 shares of the pipeline company's stock worth $263,000 after acquiring an additional 306 shares in the last quarter. Virtus ETF Advisers LLC raised its stake in Western Midstream Partners by 7.3% during the 4th quarter. Virtus ETF Advisers LLC now owns 4,564 shares of the pipeline company's stock worth $175,000 after acquiring an additional 311 shares in the last quarter. RE Dickinson Investment Advisors LLC raised its stake in Western Midstream Partners by 21.8% during the 4th quarter. RE Dickinson Investment Advisors LLC now owns 2,168 shares of the pipeline company's stock worth $83,000 after acquiring an additional 388 shares in the last quarter. Princeton Global Asset Management LLC raised its stake in Western Midstream Partners by 133.3% during the 1st quarter. Princeton Global Asset Management LLC now owns 700 shares of the pipeline company's stock worth $29,000 after acquiring an additional 400 shares in the last quarter. Finally, Atria Wealth Solutions Inc. raised its stake in Western Midstream Partners by 5.0% during the 1st quarter. Atria Wealth Solutions Inc. now owns 8,559 shares of the pipeline company's stock worth $351,000 after acquiring an additional 411 shares in the last quarter. 84.82% of the stock is currently owned by institutional investors and hedge funds.

Western Midstream Partners Stock Up 0.8%

Western Midstream Partners stock traded up $0.32 during mid-day trading on Thursday, reaching $39.56. 311,571 shares of the company's stock were exchanged, compared to its average volume of 1,219,065. The company has a market cap of $15.09 billion, a P/E ratio of 11.80 and a beta of 1.08. Western Midstream Partners has a twelve month low of $33.60 and a twelve month high of $43.33. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 2.08. The company has a fifty day moving average of $38.28 and a 200-day moving average of $39.27.

Western Midstream Partners (NYSE:WES - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The pipeline company reported $0.79 earnings per share for the quarter, missing analysts' consensus estimates of $0.83 by ($0.04). Western Midstream Partners had a net margin of 35.79% and a return on equity of 38.52%. The firm had revenue of $917.12 million during the quarter, compared to analyst estimates of $926.55 million. During the same quarter in the previous year, the business posted $1.47 earnings per share. Western Midstream Partners's revenue for the quarter was up 3.3% compared to the same quarter last year. Sell-side analysts expect that Western Midstream Partners will post 4.02 EPS for the current year.

Western Midstream Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Friday, May 2nd were paid a dividend of $0.91 per share. This is a positive change from Western Midstream Partners's previous quarterly dividend of $0.88. This represents a $3.64 annualized dividend and a yield of 9.20%. The ex-dividend date was Friday, May 2nd. Western Midstream Partners's dividend payout ratio (DPR) is currently 108.66%.

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.