Western Midstream Partners (NYSE:WES) Reaches New 12-Month High at $41.90

Western Midstream Partners, LP (NYSE:WESGet Free Report)’s stock price reached a new 52-week high on Monday . The stock traded as high as $41.90 and last traded at $41.90, with a volume of 605 shares trading hands. The stock had previously closed at $41.11.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. StockNews.com cut shares of Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 26th. Wells Fargo & Company increased their target price on Western Midstream Partners from $34.00 to $35.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 21st. Wolfe Research upgraded shares of Western Midstream Partners from an “underperform” rating to a “peer perform” rating in a research report on Thursday, April 18th. Raymond James reaffirmed a “market perform” rating on shares of Western Midstream Partners in a research note on Tuesday, March 19th. Finally, Mizuho boosted their price objective on shares of Western Midstream Partners from $34.00 to $39.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $31.55.

View Our Latest Analysis on Western Midstream Partners

Western Midstream Partners Stock Up 1.9 %

The firm has a market cap of $15.94 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 0.74 and a beta of 2.90. The firm has a 50 day moving average of $37.81 and a 200 day moving average of $33.89. 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 released its quarterly earnings data on Wednesday, May 8th. The pipeline company reported $1.47 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.62. The company had revenue of $887.73 million during the quarter, compared to analyst estimates of $868.22 million. Western Midstream Partners had a net margin of 42.50% and a return on equity of 44.76%. Western Midstream Partners’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.52 EPS. As a group, sell-side analysts predict that Western Midstream Partners, LP will post 4.1 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 issued a $0.875 dividend. The ex-dividend date of this dividend was Tuesday, April 30th. This represents a $3.50 annualized dividend and a yield of 8.35%. This is a positive change from Western Midstream Partners’s previous quarterly dividend of $0.58. Western Midstream Partners’s dividend payout ratio is presently 98.59%.

Institutional Trading of Western Midstream Partners

Several hedge funds have recently bought and sold shares of the business. NBW Capital LLC increased its position in shares of Western Midstream Partners by 25.0% during the fourth quarter. NBW Capital LLC now owns 322,010 shares of the pipeline company’s stock worth $9,422,000 after acquiring an additional 64,370 shares in the last quarter. GraniteShares Advisors LLC purchased a new stake in shares of Western Midstream Partners in the fourth quarter worth approximately $1,521,000. Wells Fargo & Company MN lifted its holdings in shares of Western Midstream Partners by 7.6% in the fourth quarter. Wells Fargo & Company MN now owns 1,260,436 shares of the pipeline company’s stock valued at $36,880,000 after purchasing an additional 89,444 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of 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 valued at $124,480,000 after buying an additional 622,108 shares during the last quarter. Finally, Van ECK Associates Corp grew its holdings in Western Midstream Partners by 104.4% during the fourth quarter. Van ECK Associates Corp now owns 58,015 shares of the pipeline company’s stock worth $1,698,000 after buying an additional 29,637 shares in the last quarter. Institutional investors and hedge funds own 42.94% of the company’s stock.

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.

Further Reading

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