Western Midstream Partners (NYSE:WES) Downgraded to "Hold" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Western Midstream Partners to “Hold” from “Buy.” The broader analyst consensus is also “Hold,” with an average price target of $46.25.
• WES shares opened at $46.68, near their 52-week high of $48.63, while the company reported quarterly EPS of $0.99 and revenue of $1.22 billion—both above analyst estimates. Revenue increased 30% year over year.
• Institutional investors own approximately 84.82% of the company, with several hedge funds recently initiating or increasing positions.

Western Midstream Partners (NYSE:WES - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Saturday.

Other research analysts also recently issued research reports about the stock. Wells Fargo & Company upped their price objective on shares of Western Midstream Partners from $41.00 to $43.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 13th. Stifel Nicolaus set a $46.00 target price on shares of Western Midstream Partners and gave the stock a "buy" rating in a research report on Thursday, May 7th. Royal Bank Of Canada restated a "sector perform" rating on shares of Western Midstream Partners in a report on Tuesday, July 21st. UBS Group upped their price target on shares of Western Midstream Partners from $45.00 to $48.00 and gave the stock a "neutral" rating in a research report on Friday, July 10th. Finally, Morgan Stanley raised shares of Western Midstream Partners from an "underweight" rating to an "equal weight" rating and set a $51.00 price target on the stock in a research note on Wednesday, June 10th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $46.25.

Western Midstream Partners Trading Down 0.6%

Western Midstream Partners stock opened at $46.68 on Friday. The stock has a 50-day moving average price of $44.95 and a 200 day moving average price of $43.09. Western Midstream Partners has a 52 week low of $36.90 and a 52 week high of $48.63. The stock has a market cap of $19.29 billion, a PE ratio of 14.68, a P/E/G ratio of 1.95 and a beta of 0.68. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.34.

Western Midstream Partners (NYSE:WES - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The pipeline company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.08. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.13 billion. Western Midstream Partners had a return on equity of 34.79% and a net margin of 29.44%.Western Midstream Partners's revenue was up 30.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.87 EPS. Equities research analysts predict that Western Midstream Partners will post 3.5 earnings per share for the current fiscal year.

Institutional Trading of Western Midstream Partners

Hedge funds have recently made changes to their positions in the stock. Eagle Bay Advisors LLC acquired a new stake in Western Midstream Partners in the fourth quarter valued at $27,000. Northwestern Mutual Wealth Management Co. acquired a new position in Western Midstream Partners during the 4th quarter worth $27,000. Rothschild Investment LLC increased its position in shares of Western Midstream Partners by 76.2% in the 4th quarter. Rothschild Investment LLC now owns 793 shares of the pipeline company's stock worth $31,000 after purchasing an additional 343 shares during the last quarter. Garton & Associates Financial Advisors LLC bought a new stake in shares of Western Midstream Partners in the 4th quarter worth about $32,000. Finally, Glen Eagle Advisors LLC raised its stake in shares of Western Midstream Partners by 843.0% in the 4th quarter. Glen Eagle Advisors LLC now owns 943 shares of the pipeline company's stock valued at $37,000 after purchasing an additional 843 shares in the last quarter. Institutional investors and hedge funds own 84.82% of the company's stock.

About Western Midstream Partners

Western Midstream Partners, LP NYSE: WES is a midstream energy infrastructure company that owns, operates and develops an integrated network of crude oil, natural gas and produced water gathering, processing, transportation and storage assets in the United States. The partnership's primary offerings include pipeline transportation, fractionation services, natural gas liquids (NGL) logistics and produced water handling. Through its fee-based and commodity-based contracts, Western Midstream provides its customers with essential services that support efficient energy production and distribution.

The company's asset portfolio spans key onshore basins, including the Delaware Basin in West Texas and southeastern New Mexico, the San Juan Basin in New Mexico and Colorado, and the Denver-Julesburg Basin in Colorado.

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