Western Midstream Partners, LP (NYSE:WES – Get Free Report) has been given a consensus rating of “Hold” by the eleven analysts that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $30.60.
Several equities analysts recently issued reports on the stock. Wells Fargo & Company lowered shares of Western Midstream Partners from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $31.00 to $30.00 in a report on Thursday, August 10th. Mizuho lifted their price objective on shares of Western Midstream Partners from $34.00 to $35.00 in a research note on Tuesday, June 27th. Citigroup dropped their price target on Western Midstream Partners from $32.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, August 11th. Raymond James decreased their price objective on Western Midstream Partners from $34.00 to $32.00 and set an “outperform” rating for the company in a report on Friday, July 21st. Finally, Stifel Nicolaus lowered their target price on Western Midstream Partners from $33.00 to $32.00 in a research note on Thursday, May 11th.
Institutional Investors Weigh In On Western Midstream Partners
Western Midstream Partners Price Performance
Shares of WES stock opened at $27.10 on Monday. Western Midstream Partners has a twelve month low of $23.24 and a twelve month high of $29.18. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 2.26. The business has a fifty day simple moving average of $27.29 and a 200 day simple moving average of $26.64. The company has a market cap of $10.42 billion, a P/E ratio of 10.15 and a beta of 2.76.
Western Midstream Partners (NYSE:WES – Get Free Report) last announced its quarterly earnings results on Tuesday, August 8th. The pipeline company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.01). The firm had revenue of $738.90 million for the quarter, compared to analyst estimates of $795.73 million. Western Midstream Partners had a net margin of 34.08% and a return on equity of 34.41%. The business’s revenue for the quarter was down 15.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.74 earnings per share. On average, sell-side analysts forecast that Western Midstream Partners will post 2.52 EPS for the current fiscal year.
Western Midstream Partners Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Monday, July 31st were paid a dividend of $0.5625 per share. This represents a $2.25 dividend on an annualized basis and a yield of 8.30%. The ex-dividend date of this dividend was Friday, July 28th. Western Midstream Partners’s dividend payout ratio is currently 84.27%.
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.
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