Western Midstream Partners (NYSE:WES) Stock Price Expected to Rise, Mizuho Analyst Says

Key Points

• Mizuho raised its price target on Western Midstream Partners from $48 to $51 and kept an outperform rating, implying about 11.6% upside from the current share price.
• Other analysts have also been adjusting their views, with several recent target hikes and rating changes, though the stock’s overall consensus remains Hold with an average price target of $45.75.
• Western Midstream recently posted better-than-expected quarterly results, beating EPS and revenue estimates, while revenue rose 22.5% year over year and analysts expect full-year EPS of 3.44.

Western Midstream Partners (NYSE:WES - Get Free Report) had its target price upped by stock analysts at Mizuho from $48.00 to $51.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "outperform" rating on the pipeline company's stock. Mizuho's price target would indicate a potential upside of 11.58% from the stock's current price.

Several other analysts have also recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of Western Midstream Partners from $41.00 to $43.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 13th. Citigroup boosted their target price on Western Midstream Partners from $39.00 to $42.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 12th. US Capital Advisors raised shares of Western Midstream Partners from a "moderate buy" rating to a "strong-buy" rating in a research report on Friday, May 29th. Wall Street Zen raised Western Midstream Partners from a "hold" rating to a "buy" rating in a research report on Sunday. Finally, Stifel Nicolaus set a $46.00 price objective on shares of Western Midstream Partners and gave the company a "buy" rating in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $45.75.

Western Midstream Partners Stock Performance

NYSE WES opened at $45.71 on Tuesday. Western Midstream Partners has a fifty-two week low of $36.90 and a fifty-two week high of $48.01. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.09 and a current ratio of 1.09. The stock's fifty day moving average is $44.22 and its two-hundred day moving average is $42.26. The firm has a market capitalization of $18.00 billion, a P/E ratio of 14.94, a price-to-earnings-growth ratio of 1.88 and a beta of 0.68.

Western Midstream Partners (NYSE:WES - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The pipeline company reported $0.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.74 by $0.11. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.01 billion. Western Midstream Partners had a net margin of 29.98% and a return on equity of 33.89%. The business's revenue was up 22.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.79 EPS. On average, research analysts anticipate that Western Midstream Partners will post 3.44 earnings per share for the current year.

Institutional Investors Weigh In On Western Midstream Partners

A number of institutional investors have recently added to or reduced their stakes in WES. Eagle Bay Advisors LLC purchased a new position in shares of Western Midstream Partners during the 4th quarter worth approximately $27,000. Northwestern Mutual Wealth Management Co. purchased a new position in Western Midstream Partners in the fourth quarter worth $27,000. Rothschild Investment LLC lifted its holdings in Western Midstream Partners by 76.2% in the fourth quarter. Rothschild Investment LLC now owns 793 shares of the pipeline company's stock valued at $31,000 after acquiring an additional 343 shares during the period. Garton & Associates Financial Advisors LLC purchased a new stake in shares of Western Midstream Partners during the 4th quarter worth $32,000. Finally, Global Wealth Strategies & Associates acquired a new position in shares of Western Midstream Partners during the 4th quarter worth $35,000. Hedge funds and other institutional investors own 84.82% of the company's stock.

Western Midstream Partners Company Profile

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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