Western Midstream Partners (NYSE:WES) Downgraded to Buy at StockNews.com

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

Other equities research analysts have also recently issued research reports about the stock. Wolfe Research raised shares of Western Midstream Partners from an underperform rating to a peer perform rating in a research report on Thursday, April 18th. Wells Fargo & Company lifted their price target on Western Midstream Partners from $34.00 to $35.00 and gave the company an equal weight rating in a report on Tuesday, May 21st. Citigroup cut Western Midstream Partners from a buy rating to a neutral rating and upped their price objective for the stock from $30.00 to $34.00 in a research note on Thursday, February 29th. Stifel Nicolaus lifted their target price on Western Midstream Partners from $35.00 to $36.00 and gave the company a buy rating in a research note on Friday, February 23rd. Finally, Mizuho increased their price target on shares of Western Midstream Partners from $34.00 to $39.00 and gave the company a buy rating in a research report on Tuesday, May 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Western Midstream Partners currently has an average rating of Hold and an average price target of $31.55.

Read Our Latest Analysis on Western Midstream Partners

Western Midstream Partners Stock Up 2.8 %

Shares of NYSE WES opened at $39.31 on Monday. Western Midstream Partners has a 52-week low of $25.47 and a 52-week high of $39.37. The firm has a market capitalization of $14.96 billion, a price-to-earnings ratio of 11.07, a PEG ratio of 0.72 and a beta of 2.85. The stock has a 50 day moving average price of $36.35 and a 200 day moving average price of $32.45. The company has a debt-to-equity ratio of 2.15, a quick ratio of 1.51 and a current ratio of 1.51.

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

Western Midstream Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were given a dividend of $0.875 per share. The ex-dividend date was Tuesday, April 30th. This represents a $3.50 dividend on an annualized basis and a yield of 8.90%. This is a boost from Western Midstream Partners’s previous quarterly dividend of $0.58. Western Midstream Partners’s payout ratio is currently 98.59%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in WES. NBW Capital LLC grew its position in Western Midstream Partners by 25.0% during the fourth quarter. NBW Capital LLC now owns 322,010 shares of the pipeline company’s stock valued at $9,422,000 after buying an additional 64,370 shares during the period. GraniteShares Advisors LLC acquired a new position in Western Midstream Partners in the 4th quarter worth about $1,521,000. Wells Fargo & Company MN raised its holdings in Western Midstream Partners by 7.6% in the 4th quarter. Wells Fargo & Company MN now owns 1,260,436 shares of the pipeline company’s stock worth $36,880,000 after purchasing an additional 89,444 shares during the period. JPMorgan Chase & Co. boosted its position in Western Midstream Partners by 15.8% during the third quarter. JPMorgan Chase & Co. now owns 4,571,428 shares of the pipeline company’s stock worth $124,480,000 after purchasing an additional 622,108 shares in the last quarter. Finally, Van ECK Associates Corp grew its holdings in Western Midstream Partners by 104.4% in the fourth quarter. Van ECK Associates Corp now owns 58,015 shares of the pipeline company’s stock valued at $1,698,000 after purchasing an additional 29,637 shares during the period. Hedge funds and other institutional investors own 42.94% of the company’s stock.

Western Midstream Partners Company Profile

(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.

See Also

Analyst Recommendations for Western Midstream Partners (NYSE:WES)

Receive News & Ratings for Western Midstream Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Midstream Partners and related companies with MarketBeat.com's FREE daily email newsletter.