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

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

Separately, Mizuho decreased their price objective on shares of Western Midstream Partners from $45.00 to $44.00 and set an "outperform" rating for the company in a research note on Tuesday, May 20th.

Western Midstream Partners Trading Down 0.5%

Shares of NYSE:WES opened at $39.16 on Thursday. The stock has a market capitalization of $14.93 billion, a price-to-earnings ratio of 11.69 and a beta of 1.08. Western Midstream Partners has a 1-year low of $33.60 and a 1-year high of $43.33. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.18 and a current ratio of 1.18. The company has a 50 day moving average price of $38.24 and a 200 day moving average price of $39.27.

Western Midstream Partners (NYSE:WES - Get Free Report) last issued its earnings results 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). The business had revenue of $917.12 million for the quarter, compared to the consensus estimate of $926.55 million. Western Midstream Partners had a return on equity of 38.52% and a net margin of 35.79%. The company's quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.47 earnings per share. On average, research analysts anticipate that Western Midstream Partners will post 4.02 EPS for the current fiscal year.

Western Midstream Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Friday, May 2nd were given a $0.91 dividend. This is an increase from Western Midstream Partners's previous quarterly dividend of $0.88. This represents a $3.64 annualized dividend and a dividend yield of 9.30%. The ex-dividend date was Friday, May 2nd. Western Midstream Partners's dividend payout ratio (DPR) is currently 108.66%.

Institutional Investors Weigh In On Western Midstream Partners

A number of institutional investors have recently added to or reduced their stakes in WES. Adams Asset Advisors LLC boosted its holdings in Western Midstream Partners by 1.0% during the second quarter. Adams Asset Advisors LLC now owns 327,105 shares of the pipeline company's stock valued at $12,659,000 after purchasing an additional 3,324 shares in the last quarter. Howard Financial Services LTD. boosted its holdings in Western Midstream Partners by 7.2% during the second quarter. Howard Financial Services LTD. now owns 10,951 shares of the pipeline company's stock valued at $424,000 after purchasing an additional 736 shares in the last quarter. Militia Capital Partners LP acquired a new stake in Western Midstream Partners during the first quarter valued at approximately $123,000. Goldman Sachs Group Inc. boosted its holdings in Western Midstream Partners by 1.8% during the first quarter. Goldman Sachs Group Inc. now owns 8,658,988 shares of the pipeline company's stock valued at $354,672,000 after purchasing an additional 149,833 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Western Midstream Partners by 2.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,428,847 shares of the pipeline company's stock valued at $304,286,000 after purchasing an additional 155,661 shares in the last quarter. 84.82% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.