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

Key Points

• Western Midstream Partners, LP (NYSE:WES) has received an average rating of "Hold" from four covering research firms, with one sell rating and one buy rating among them.
• The company recently announced a quarterly dividend of $0.91, representing a 9.6% yield, with a dividend payout ratio of 112.00%.
• Western Midstream Partners reported $0.87 earnings per share for the last quarter, surpassing analyst expectations, despite a slight decrease in year-over-year earnings.

Western Midstream Partners, LP (NYSE:WES - Get Free Report) has been given an average rating of "Hold" by the four research firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $40.25.

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

Western Midstream Partners Price Performance

Shares of Western Midstream Partners stock opened at $37.74 on Friday. The firm has a market cap of $14.39 billion, a PE ratio of 11.61 and a beta of 1.12. Western Midstream Partners has a 12-month low of $33.60 and a 12-month high of $43.33. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 2.08. The company's fifty day simple moving average is $38.41 and its two-hundred day simple moving average is $38.46.

Western Midstream Partners (NYSE:WES - Get Free Report) last announced its quarterly earnings results 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. The business had revenue of $942.32 million for the quarter, compared to analyst estimates of $954.17 million. Western Midstream Partners had a net margin of 34.45% and a return on equity of 37.70%. The company's revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.97 EPS. As a group, equities analysts expect that Western Midstream Partners will post 4.02 EPS for the current year.

Western Midstream Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be issued a $0.91 dividend. The ex-dividend date is Friday, October 31st. This represents a $3.64 annualized dividend and a yield of 9.6%. Western Midstream Partners's dividend payout ratio is 112.00%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in WES. Wealth Enhancement Advisory Services LLC raised its holdings in Western Midstream Partners by 24.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 52,450 shares of the pipeline company's stock worth $2,148,000 after purchasing an additional 10,156 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in Western Midstream Partners by 28.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 34,425 shares of the pipeline company's stock worth $1,410,000 after purchasing an additional 7,555 shares in the last quarter. PFG Investments LLC raised its holdings in Western Midstream Partners by 17.8% in the 1st quarter. PFG Investments LLC now owns 39,363 shares of the pipeline company's stock worth $1,612,000 after purchasing an additional 5,939 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in Western Midstream Partners by 10.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 26,483 shares of the pipeline company's stock worth $1,085,000 after purchasing an additional 2,485 shares in the last quarter. Finally, Daymark Wealth Partners LLC raised its holdings in Western Midstream Partners by 8.6% in the 1st quarter. Daymark Wealth Partners LLC now owns 45,506 shares of the pipeline company's stock worth $1,864,000 after purchasing an additional 3,605 shares in the last quarter. 84.82% of the stock is currently owned by institutional investors.

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.

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