Western Midstream Partners (NYSE:WES) Upgraded to “Strong-Buy” by StockNews.com

StockNews.com upgraded shares of Western Midstream Partners (NYSE:WESFree Report) from a buy rating to a strong-buy rating in a research note released on Monday.

WES has been the topic of several other research reports. Raymond James reaffirmed a market perform rating on shares of Western Midstream Partners in a report on Tuesday, March 19th. Wells Fargo & Company boosted their target price on Western Midstream Partners from $34.00 to $35.00 and gave the stock an equal weight rating in a research report on Tuesday, May 21st. Stifel Nicolaus increased their price target on Western Midstream Partners from $35.00 to $36.00 and gave the company a buy rating in a research report on Friday, February 23rd. Wolfe Research upgraded Western Midstream Partners from an underperform rating to a peer perform rating in a report on Thursday, April 18th. Finally, Mizuho raised their target price on shares of Western Midstream Partners from $34.00 to $39.00 and gave the stock a buy rating in a report on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $31.55.

Read Our Latest Stock Analysis on WES

Western Midstream Partners Trading Down 0.0 %

Shares of WES stock opened at $37.36 on Monday. The stock has a 50-day simple moving average of $35.85 and a 200 day simple moving average of $31.79. The stock has a market capitalization of $14.21 billion, a P/E ratio of 10.52, a P/E/G ratio of 0.70 and a beta of 2.82. Western Midstream Partners has a fifty-two week low of $25.04 and a fifty-two week high of $38.79. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 2.15.

Western Midstream Partners (NYSE:WESGet Free Report) last issued its quarterly earnings results on Wednesday, May 8th. The pipeline company reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.62. Western Midstream Partners had a net margin of 42.50% and a return on equity of 44.76%. The company had revenue of $887.73 million during the quarter, compared to the consensus estimate of $868.22 million. During the same period in the prior year, the company earned $0.52 EPS. Western Midstream Partners’s revenue was up 20.9% on a year-over-year basis. On average, sell-side analysts expect that Western Midstream Partners will post 3.93 earnings per share for the current fiscal year.

Western Midstream Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were issued a dividend of $0.875 per share. This is a boost from Western Midstream Partners’s previous quarterly dividend of $0.58. This represents a $3.50 annualized dividend and a dividend yield of 9.37%. The ex-dividend date was Tuesday, April 30th. Western Midstream Partners’s payout ratio is currently 98.59%.

Insider Activity at Western Midstream Partners

In other Western Midstream Partners news, Director Lisa A. Stewart bought 2,500 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was bought at an average cost of $34.87 per share, with a total value of $87,175.00. Following the completion of the transaction, the director now directly owns 30,730 shares of the company’s stock, valued at approximately $1,071,555.10. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.04% of the company’s stock.

Institutional Trading of Western Midstream Partners

A number of institutional investors and hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp bought a new position in shares of Western Midstream Partners in the third quarter worth about $216,000. Fort Washington Investment Advisors Inc. OH bought a new position in Western Midstream Partners during the third quarter valued at about $405,000. Van ECK Associates Corp increased its stake in Western Midstream Partners by 10.1% during the third quarter. Van ECK Associates Corp now owns 28,378 shares of the pipeline company’s stock valued at $773,000 after acquiring an additional 2,610 shares during the period. Pathstone Family Office LLC raised its holdings in Western Midstream Partners by 32.4% in the 3rd quarter. Pathstone Family Office LLC now owns 29,259 shares of the pipeline company’s stock valued at $797,000 after acquiring an additional 7,154 shares in the last quarter. Finally, HighTower Advisors LLC lifted its position in shares of Western Midstream Partners by 10.7% in the 3rd quarter. HighTower Advisors LLC now owns 51,698 shares of the pipeline company’s stock worth $1,406,000 after acquiring an additional 4,992 shares during the period. 42.94% of the stock is currently owned by institutional investors and hedge funds.

About Western Midstream Partners

(Get Free Report)

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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Analyst Recommendations for Western Midstream Partners (NYSE:WES)

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