Western Midstream Partners, LP (NYSE:WES) Receives Average Rating of "Reduce" from Brokerages

Shares of Western Midstream Partners, LP (NYSE:WES - Get Free Report) have been assigned a consensus rating of "Reduce" from the six analysts that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $39.83.

A number of equities research analysts have recently commented on WES shares. Wall Street Zen raised Western Midstream Partners from a "hold" rating to a "buy" rating in a research report on Saturday, March 8th. 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.

Western Midstream Partners Stock Up 0.3%

WES opened at $38.83 on Friday. Western Midstream Partners has a fifty-two week low of $33.60 and a fifty-two week high of $43.33. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market capitalization of $14.81 billion, a P/E ratio of 9.91, a P/E/G ratio of 1.40 and a beta of 1.09. The firm's fifty day moving average price is $37.86 and its two-hundred day moving average price is $39.39.

Western Midstream Partners (NYSE:WES - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The pipeline company reported $0.79 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.83 by ($0.04). Western Midstream Partners had a net margin of 42.99% and a return on equity of 46.02%. The business had revenue of $917.12 million during the quarter, compared to the consensus estimate of $926.55 million. During the same period in the prior year, the firm earned $1.47 earnings per share. The business's quarterly revenue was up 3.3% compared to the same quarter last year. On average, analysts anticipate that Western Midstream Partners will post 4.02 EPS for the current year.

Western Midstream Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Friday, May 2nd were issued a $0.91 dividend. The ex-dividend date was Friday, May 2nd. This represents a $3.64 annualized dividend and a yield of 9.37%. This is a positive change from Western Midstream Partners's previous quarterly dividend of $0.88. Western Midstream Partners's dividend payout ratio is presently 108.66%.

Hedge Funds Weigh In On Western Midstream Partners

Several large investors have recently added to or reduced their stakes in the business. Princeton Global Asset Management LLC lifted its holdings in Western Midstream Partners by 133.3% during the first 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 during the period. Financial Network Wealth Advisors LLC grew its stake in Western Midstream Partners by 1,856.4% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 763 shares of the pipeline company's stock valued at $31,000 after buying an additional 724 shares in the last quarter. Cary Street Partners Financial LLC purchased a new stake in Western Midstream Partners during the 4th quarter worth about $39,000. Bessemer Group Inc. bought a new position in shares of Western Midstream Partners in the first quarter valued at approximately $41,000. Finally, Harbour Investments Inc. increased its holdings in shares of Western Midstream Partners by 555.6% in the fourth quarter. Harbour Investments Inc. now owns 1,180 shares of the pipeline company's stock worth $45,000 after purchasing an additional 1,000 shares during the period. Institutional investors own 84.82% of the company's stock.

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.

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