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

Key Points

• Western Midstream Partners, LP has received a consensus rating of "Reduce" from five analysts, with an average 12-month price target of $39.60.
• The company recently reported an EPS of $0.87 for the last quarter, exceeding analyst expectations, even as revenue of $942.32 million fell short of estimates.
• Western Midstream has announced a quarterly dividend of $0.91 per share, which translates to an annualized yield of 9.5%.

Western Midstream Partners, LP (NYSE:WES - Get Free Report) has been assigned a consensus recommendation of "Reduce" from the five analysts that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $39.60.

WES has been the topic of several analyst reports. Royal Bank Of Canada boosted their target price on Western Midstream Partners from $38.00 to $39.00 and gave the company a "sector perform" rating in a research report on Tuesday, August 26th. Mizuho boosted their target price on Western Midstream Partners from $44.00 to $46.00 and gave the company an "outperform" rating in a research report on Friday, August 29th. Finally, Morgan Stanley cut their target price on Western Midstream Partners from $41.00 to $39.00 and set an "underweight" rating on the stock in a research report on Tuesday, August 26th.

Hedge Funds Weigh In On Western Midstream Partners

A number of large investors have recently bought and sold shares of the business. Daymark Wealth Partners LLC boosted its holdings in Western Midstream Partners by 0.6% during the 2nd quarter. Daymark Wealth Partners LLC now owns 45,774 shares of the pipeline company's stock valued at $1,771,000 after acquiring an additional 268 shares during the period. Apollon Wealth Management LLC lifted its holdings in shares of Western Midstream Partners by 1.0% in the 2nd quarter. Apollon Wealth Management LLC now owns 26,382 shares of the pipeline company's stock worth $1,021,000 after buying an additional 269 shares during the period. Jaffetilchin Investment Partners LLC lifted its holdings in shares of Western Midstream Partners by 6.4% in the 2nd quarter. Jaffetilchin Investment Partners LLC now owns 5,201 shares of the pipeline company's stock worth $201,000 after buying an additional 312 shares during the period. Princeton Global Asset Management LLC lifted its holdings in shares of Western Midstream Partners by 133.3% in the 1st quarter. Princeton Global Asset Management LLC now owns 700 shares of the pipeline company's stock worth $29,000 after buying an additional 400 shares during the period. Finally, Journey Strategic Wealth LLC lifted its holdings in shares of Western Midstream Partners by 7.3% in the 2nd quarter. Journey Strategic Wealth LLC now owns 5,900 shares of the pipeline company's stock worth $228,000 after buying an additional 400 shares during the period. Hedge funds and other institutional investors own 84.82% of the company's stock.

Western Midstream Partners Stock Down 0.1%

NYSE WES opened at $38.33 on Tuesday. The stock's 50 day moving average is $39.00 and its 200 day moving average is $38.77. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 2.08. Western Midstream Partners has a 12 month low of $33.60 and a 12 month high of $43.33. The stock has a market cap of $14.61 billion, a PE ratio of 11.79 and a beta of 1.18.

Western Midstream Partners (NYSE:WES - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The pipeline company reported $0.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.82 by $0.05. Western Midstream Partners had a return on equity of 37.70% and a net margin of 34.45%.The business had revenue of $942.32 million for the quarter, compared to the consensus estimate of $954.17 million. During the same quarter in the previous year, the company posted $0.97 EPS. The company's revenue was up 4.1% compared to the same quarter last year. Research analysts predict that Western Midstream Partners will post 4.02 EPS for the current fiscal year.

Western Midstream Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Friday, August 1st were issued a dividend of $0.91 per share. The ex-dividend date was Friday, August 1st. This represents a $3.64 dividend on an annualized basis and a yield of 9.5%. Western Midstream Partners's payout ratio is presently 112.00%.

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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