Western Midstream Partners, LP (NYSE:WES) Given Average Rating of “Buy” by Brokerages

Shares of Western Midstream Partners, LP (NYSE:WESGet Rating) have been given a consensus rating of “Buy” by the nine brokerages that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $26.67.

A number of brokerages recently commented on WES. StockNews.com assumed coverage on Western Midstream Partners in a research note on Thursday, March 31st. They issued a “buy” rating for the company. Zacks Investment Research upgraded Western Midstream Partners from a “sell” rating to a “hold” rating in a report on Wednesday. Credit Suisse Group raised their price target on Western Midstream Partners from $25.00 to $29.00 and gave the company an “outperform” rating in a report on Thursday, March 10th. Mizuho increased their target price on Western Midstream Partners from $28.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, March 4th. Finally, Barclays raised their price target on Western Midstream Partners from $24.00 to $28.00 in a research report on Thursday, January 20th.

Hedge funds have recently bought and sold shares of the stock. CWM LLC purchased a new stake in shares of Western Midstream Partners in the fourth quarter worth approximately $28,000. TFO TDC LLC grew its holdings in Western Midstream Partners by 217.6% during the third quarter. TFO TDC LLC now owns 1,426 shares of the pipeline company’s stock valued at $30,000 after purchasing an additional 977 shares during the period. Farmers & Merchants Investments Inc. bought a new position in Western Midstream Partners during the first quarter valued at $39,000. Fifth Third Bancorp grew its holdings in Western Midstream Partners by 126.5% during the first quarter. Fifth Third Bancorp now owns 1,606 shares of the pipeline company’s stock valued at $41,000 after purchasing an additional 897 shares during the period. Finally, MCF Advisors LLC bought a new position in shares of Western Midstream Partners in the third quarter worth $42,000. 41.25% of the stock is currently owned by institutional investors and hedge funds.

NYSE:WES traded down $0.47 on Friday, hitting $25.69. 35,116 shares of the company’s stock traded hands, compared to its average volume of 1,356,451. The company has a market cap of $10.37 billion, a PE ratio of 11.77 and a beta of 3.52. The firm has a 50-day moving average price of $25.17 and a 200-day moving average price of $23.26. Western Midstream Partners has a 1 year low of $17.97 and a 1 year high of $27.29. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 2.07.

Western Midstream Partners (NYSE:WESGet Rating) last announced its earnings results on Wednesday, February 23rd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.07). The company had revenue of $719.21 million for the quarter, compared to the consensus estimate of $741.40 million. Western Midstream Partners had a return on equity of 30.26% and a net margin of 31.54%. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.62 EPS. On average, research analysts forecast that Western Midstream Partners will post 2.6 EPS for the current fiscal year.

Western Midstream Partners Company Profile (Get Rating)

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.

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