Western Midstream Partners, LP (NYSE:WES) Receives Average Recommendation of “Reduce” from Analysts

Shares of Western Midstream Partners, LP (NYSE:WES) have been given a consensus recommendation of “Reduce” by the ten analysts that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $37.88.

Several equities analysts have issued reports on the company. UBS Group cut their price objective on Western Midstream Partners from $40.00 to $37.00 and set a “neutral” rating for the company in a research report on Friday, November 15th. US Capital Advisors upgraded shares of Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 26th. StockNews.com lowered shares of Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, October 28th. Morgan Stanley downgraded shares of Western Midstream Partners from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $42.00 to $40.00 in a research note on Friday, October 25th. Finally, Bank of America began coverage on shares of Western Midstream Partners in a research note on Thursday, October 17th. They set an “underperform” rating and a $37.00 price target on the stock.

Hedge Funds Weigh In On Western Midstream Partners

Several hedge funds have recently added to or reduced their stakes in WES. Kayne Anderson Capital Advisors LP increased its position in shares of Western Midstream Partners by 23.5% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 6,228,448 shares of the pipeline company’s stock valued at $238,300,000 after buying an additional 1,184,597 shares in the last quarter. Fractal Investments LLC grew its stake in Western Midstream Partners by 5.4% in the third quarter. Fractal Investments LLC now owns 1,465,706 shares of the pipeline company’s stock valued at $56,078,000 after acquiring an additional 75,145 shares during the period. Miller Howard Investments Inc. NY increased its holdings in shares of Western Midstream Partners by 2.8% in the second quarter. Miller Howard Investments Inc. NY now owns 1,458,530 shares of the pipeline company’s stock worth $57,947,000 after acquiring an additional 39,827 shares in the last quarter. Recurrent Investment Advisors LLC raised its position in shares of Western Midstream Partners by 5.4% during the third quarter. Recurrent Investment Advisors LLC now owns 1,397,140 shares of the pipeline company’s stock worth $53,455,000 after purchasing an additional 71,210 shares during the period. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its holdings in shares of Western Midstream Partners by 10.1% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,315,472 shares of the pipeline company’s stock valued at $50,330,000 after purchasing an additional 120,202 shares in the last quarter. Institutional investors and hedge funds own 84.82% of the company’s stock.

Western Midstream Partners Stock Up 0.6 %

WES opened at $38.36 on Friday. Western Midstream Partners has a twelve month low of $27.44 and a twelve month high of $42.80. The firm has a market cap of $14.60 billion, a price-to-earnings ratio of 9.79, a PEG ratio of 1.08 and a beta of 2.90. The firm’s 50-day simple moving average is $38.47 and its 200-day simple moving average is $38.96. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.11 and a current ratio of 1.11.

Western Midstream Partners (NYSE:WES) last posted its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.09). The firm had revenue of $883.36 million for the quarter, compared to analyst estimates of $924.83 million. Western Midstream Partners had a return on equity of 46.02% and a net margin of 42.99%. The business’s quarterly revenue was up 13.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.70 EPS. Equities research analysts anticipate that Western Midstream Partners will post 4.03 EPS for the current fiscal year.

Western Midstream Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were given a $0.875 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.50 annualized dividend and a dividend yield of 9.12%. Western Midstream Partners’s dividend payout ratio is currently 89.29%.

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.