Western Midstream Partners (NYSE:WES) Now Covered by Analysts at Citigroup

Key Points

• Citigroup has reiterated a "neutral" rating on Western Midstream Partners (WES) with a price target of $39.00, indicating a potential upside of 2.84% from its current price.
• Other analysts have varying ratings, with Mizuho raising its target to $46.00 (outperform) while Morgan Stanley set it at $39.00 (underweight), resulting in a consensus rating of "Hold" with an average target of $40.00.
• Western Midstream Partners reported a quarterly EPS of $0.87, beating estimates, but revenue fell short of expectations at $942.32 million, reflecting a year-over-year increase of 4.1%.

Citigroup assumed coverage on shares of Western Midstream Partners (NYSE:WES - Get Free Report) in a report released on Monday, Marketbeat.com reports. The brokerage set a "neutral" rating and a $39.00 price target on the pipeline company's stock. Citigroup's target price suggests a potential upside of 2.80% from the stock's previous close.

Several other brokerages also recently commented on WES. Mizuho upped their price target on shares of Western Midstream Partners from $44.00 to $46.00 and gave the company an "outperform" rating in a research report on Friday, August 29th. Royal Bank Of Canada increased their target price on shares of Western Midstream Partners from $38.00 to $39.00 and gave the stock a "sector perform" rating in a research report on Tuesday, August 26th. Finally, Morgan Stanley dropped 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 research note on Tuesday, August 26th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $40.00.

Western Midstream Partners Price Performance

Shares of Western Midstream Partners stock traded up $0.20 on Monday, hitting $37.94. The company had a trading volume of 355,340 shares, compared to its average volume of 1,246,459. The business has a 50-day simple moving average of $38.41 and a 200-day simple moving average of $38.42. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.30 and a quick ratio of 1.30. The company has a market cap of $14.47 billion, a PE ratio of 11.69 and a beta of 1.12. Western Midstream Partners has a 52 week low of $33.60 and a 52 week high of $43.33.

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

Hedge Funds Weigh In On Western Midstream Partners

Hedge funds and other institutional investors have recently made changes to their positions in the business. Financial Network Wealth Advisors LLC lifted its holdings in shares of Western Midstream Partners by 1,856.4% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 763 shares of the pipeline company's stock worth $31,000 after acquiring an additional 724 shares during the period. Sound Income Strategies LLC bought a new position in Western Midstream Partners during the 2nd quarter valued at about $39,000. MTM Investment Management LLC bought a new position in Western Midstream Partners during the 2nd quarter valued at about $39,000. Bessemer Group Inc. bought a new position in Western Midstream Partners during the 1st quarter valued at about $41,000. Finally, Allworth Financial LP bought a new position in Western Midstream Partners during the 2nd quarter valued at about $43,000. 84.82% of the stock is owned by institutional investors.

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.