Western Midstream Partners - WES Stock Forecast, Price & News

Western Midstream Partners, LP, a midstream energy company, together with its subsidiaries, acquires, owns, develops, and operates 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. It also buys and sells natural gas, NGLs, and condensate. The company operates assets located in Texas, New Mexico, the Rocky Mountains, and North-central Pennsylvania. Western Midstream Holdings, LLC operates as the general partner of the company. The company was formerly known as Western Gas Equity Partners, LP and changed its name to Western Midstream Partners, LP in February 2019. Western Midstream Partners, LP was incorporated in 2007 and is based in The Woodlands, Texas.

Western Midstream Partners Stock Down 0.2 %

Western Midstream Partners stock traded down $0.06 during midday trading on Friday, reaching $28.17. The stock had a trading volume of 551,993 shares, compared to its average volume of 1,268,706. The stock has a market capitalization of $10.89 billion, a P/E ratio of 10.53 and a beta of 3.09. The firm's fifty day simple moving average is $25.78 and its 200-day simple moving average is $25.52. The company has a debt-to-equity ratio of 2.01, a quick ratio of 1.14 and a current ratio of 1.14. Western Midstream Partners has a 1-year low of $18.09 and a 1-year high of $29.50.

Western Midstream Partners (NYSE:WES - Get Rating) last issued its earnings results on Tuesday, May 10th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.14. Western Midstream Partners had a net margin of 35.52% and a return on equity of 34.70%. The business had revenue of $758.30 million during the quarter, compared to the consensus estimate of $701.95 million. During the same period last year, the business posted $0.48 EPS. Western Midstream Partners's revenue was up 12.3% on a year-over-year basis. As a group, analysts expect that Western Midstream Partners will post 3.11 EPS for the current fiscal year.

Western Midstream Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 12th. Stockholders of record on Monday, August 1st will be given a $0.50 dividend. The ex-dividend date of this dividend is Friday, July 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.10%. Western Midstream Partners's payout ratio is presently 74.63%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on WES shares. Wolfe Research assumed coverage on shares of Western Midstream Partners in a research note on Monday, August 1st. They issued a "peer perform" rating on the stock. Morgan Stanley lifted their target price on Western Midstream Partners from $31.00 to $35.00 and gave the stock an "overweight" rating in a report on Wednesday, July 20th. Mizuho increased their price target on Western Midstream Partners from $31.00 to $32.00 in a report on Friday, May 13th. StockNews.com cut Western Midstream Partners from a "strong-buy" rating to a "buy" rating in a report on Friday, July 22nd. Finally, Barclays increased their target price on Western Midstream Partners from $29.00 to $31.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 20th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Western Midstream Partners has a consensus rating of "Moderate Buy" and a consensus target price of $31.00.

Insider Activity at Western Midstream Partners

In other Western Midstream Partners news, major shareholder Petroleum Corp /De/ Occidental sold 10,000,000 shares of the business's stock in a transaction dated Thursday, July 21st. The shares were sold at an average price of $25.25, for a total value of $252,500,000.00. Following the completion of the sale, the insider now owns 190,281,578 shares of the company's stock, valued at approximately $4,804,609,844.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, major shareholder Petroleum Corp /De/ Occidental sold 10,000,000 shares of the business's stock in a transaction dated Thursday, July 21st. The stock was sold at an average price of $25.25, for a total value of $252,500,000.00. Following the completion of the transaction, the insider now owns 190,281,578 shares of the company's stock, valued at $4,804,609,844.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Robert W. Bourne acquired 2,500 shares of Western Midstream Partners stock in a transaction on Friday, June 17th. The shares were purchased at an average price of $22.90 per share, for a total transaction of $57,250.00. Following the completion of the purchase, the senior vice president now directly owns 34,400 shares of the company's stock, valued at $787,760. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by corporate insiders.