Western Midstream Partners (NYSE:WES) PT Raised to $39.00

Western Midstream Partners (NYSE:WES) had its target price upped by stock analysts at Mizuho from $34.00 to $39.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the pipeline company’s stock. Mizuho’s price objective would indicate a potential upside of 9.86% from the company’s current price.

Several other equities research analysts have also recently issued reports on the company. Raymond James reaffirmed a “market perform” rating on shares of Western Midstream Partners in a report on Tuesday, March 19th. Citigroup cut Western Midstream Partners from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $30.00 to $34.00 in a report on Thursday, February 29th. Stifel Nicolaus lifted their target price on Western Midstream Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Finally, Wolfe Research raised Western Midstream Partners from an “underperform” rating to a “peer perform” rating in a report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $31.09.

Western Midstream Partners Price Performance

Shares of Western Midstream Partners stock opened at $35.50 on Tuesday. The stock’s 50-day simple moving average is $34.96 and its 200-day simple moving average is $30.86. Western Midstream Partners has a 52 week low of $25.04 and a 52 week high of $36.79. The company has a market capitalization of $13.51 billion, a price-to-earnings ratio of 13.65 and a beta of 2.82. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 2.40.

Western Midstream Partners (NYSE:WES) last announced its quarterly earnings data on Wednesday, February 21st. The pipeline company reported $0.74 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.04). Western Midstream Partners had a net margin of 32.72% and a return on equity of 33.58%. The business had revenue of $858.21 million during the quarter, compared to analysts’ expectations of $850.23 million. During the same quarter in the previous year, the firm earned $0.85 earnings per share. Western Midstream Partners’s revenue was up 10.1% on a year-over-year basis. As a group, analysts expect that Western Midstream Partners will post 3.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Western Midstream Partners news, Director Lisa A. Stewart bought 2,500 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were purchased at an average price of $34.87 per share, with a total value of $87,175.00. Following the completion of the purchase, the director now owns 30,730 shares in the company, valued at approximately $1,071,555.10. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Western Midstream Partners news, Director Lisa A. Stewart bought 2,500 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were purchased at an average price of $34.87 per share, with a total value of $87,175.00. Following the completion of the purchase, the director now owns 30,730 shares in the company, valued at approximately $1,071,555.10. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Kenneth F. Owen bought 7,000 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were acquired at an average cost of $33.96 per share, for a total transaction of $237,720.00. Following the purchase, the director now owns 32,730 shares of the company’s stock, valued at approximately $1,111,510.80. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by insiders.

Institutional Trading of Western Midstream Partners

Large investors have recently modified their holdings of the company. Larson Financial Group LLC purchased a new stake in shares of Western Midstream Partners in the third quarter valued at approximately $27,000. American National Bank boosted its holdings in shares of Western Midstream Partners by 34.5% in the first quarter. American National Bank now owns 1,190 shares of the pipeline company’s stock valued at $42,000 after purchasing an additional 305 shares during the period. Fortitude Family Office LLC purchased a new stake in shares of Western Midstream Partners in the fourth quarter valued at approximately $43,000. Retirement Group LLC boosted its holdings in shares of Western Midstream Partners by 40.2% in the first quarter. Retirement Group LLC now owns 1,591 shares of the pipeline company’s stock valued at $57,000 after purchasing an additional 456 shares during the period. Finally, UMB Bank n.a. purchased a new stake in shares of Western Midstream Partners in the fourth quarter valued at approximately $74,000. Hedge funds and other institutional investors own 42.94% of the company’s stock.

About Western Midstream Partners

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.