Brokerages Set Western Midstream Partners, LP (NYSE:WES) PT at $39.14

Western Midstream Partners, LP (NYSE:WES - Get Free Report) has been given a consensus recommendation of "Reduce" by the six brokerages that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $39.83.

Several analysts have issued reports on WES shares. Wall Street Zen upgraded Western Midstream Partners from a "hold" rating to a "buy" rating in a research note on Saturday, March 8th. Mizuho lowered their target price on Western Midstream Partners from $45.00 to $44.00 and set an "outperform" rating on the stock in a research note on Tuesday.

Institutional Trading of Western Midstream Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Alps Advisors Inc. raised its stake in shares of Western Midstream Partners by 7.6% during the 1st quarter. Alps Advisors Inc. now owns 33,824,487 shares of the pipeline company's stock valued at $1,385,451,000 after purchasing an additional 2,400,891 shares during the period. Invesco Ltd. raised its stake in shares of Western Midstream Partners by 7.1% during the 1st quarter. Invesco Ltd. now owns 24,417,770 shares of the pipeline company's stock valued at $1,000,152,000 after purchasing an additional 1,608,609 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Western Midstream Partners by 1.8% during the 1st 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 during the period. Tortoise Capital Advisors L.L.C. raised its stake in shares of Western Midstream Partners by 2.0% during the 4th quarter. Tortoise Capital Advisors L.L.C. now owns 8,064,089 shares of the pipeline company's stock valued at $309,903,000 after purchasing an additional 159,016 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Western Midstream Partners by 2.1% during the 1st 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 during the period. 84.82% of the stock is currently owned by institutional investors.

Western Midstream Partners Stock Performance

Western Midstream Partners stock traded up $0.26 during mid-day trading on Wednesday, reaching $38.95. 867,081 shares of the company's stock were exchanged, compared to its average volume of 1,230,628. The business's fifty day simple moving average is $38.47 and its 200 day simple moving average is $39.33. The firm has a market capitalization of $14.85 billion, a PE ratio of 9.94, a P/E/G ratio of 1.40 and a beta of 1.12. Western Midstream Partners has a one year low of $33.60 and a one year high of $43.33. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.05.

Western Midstream Partners (NYSE:WES - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The pipeline company reported $0.79 EPS 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 46.02% and a net margin of 42.99%. The business's revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.47 earnings per share. On average, sell-side analysts expect that Western Midstream Partners will post 4.02 earnings per share for the current year.

Western Midstream Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Friday, May 2nd were paid a $0.91 dividend. The ex-dividend date of this dividend was Friday, May 2nd. 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 dividend yield of 9.34%. Western Midstream Partners's payout ratio is presently 108.66%.

Western Midstream Partners Company Profile

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.