Western Midstream Partners (NYSE:WES) Now Covered by Analysts at Citigroup

Citigroup assumed coverage on shares of Western Midstream Partners (NYSE:WES) in a research note issued to investors on Monday morning, MarketBeat.com reports. The brokerage issued a neutral rating and a $39.00 price target on the pipeline company’s stock.

Other research analysts have also issued reports about the company. Royal Bank Of Canada lifted their target price on Western Midstream Partners from $38.00 to $39.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 26th. Morgan Stanley reduced their target price on Western Midstream Partners from $41.00 to $39.00 and set an “underweight” rating on the stock in a report on Tuesday, August 26th. Finally, Mizuho lifted their target price on Western Midstream Partners from $44.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, August 29th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $40.00.

Western Midstream Partners Stock Up 0.9%

NYSE WES opened at $38.10 on Monday. The stock has a fifty day moving average of $38.42 and a 200-day moving average of $38.43. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.30 and a current ratio of 1.30. The stock has a market capitalization of $14.53 billion, a P/E ratio of 11.72 and a beta of 1.12. Western Midstream Partners has a 52 week low of $33.60 and a 52 week high of $43.33.

Western Midstream Partners (NYSE:WES) last posted its earnings results on Wednesday, August 6th. The pipeline company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.05. The firm had revenue of $942.32 million for the quarter, compared to analyst estimates of $954.17 million. Western Midstream Partners had a return on equity of 37.70% and a net margin of 34.45%.The company’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.97 earnings per share. On average, equities research analysts forecast that Western Midstream Partners will post 4.02 EPS for the current year.

Western Midstream Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be given a $0.91 dividend. The ex-dividend date of this dividend is Friday, October 31st. This represents a $3.64 dividend on an annualized basis and a dividend yield of 9.6%. Western Midstream Partners’s payout ratio is currently 112.00%.

Institutional Trading of Western Midstream Partners

A number of hedge funds and other institutional investors have recently modified their holdings of WES. Financial Network Wealth Advisors LLC increased its position in shares of Western Midstream Partners by 1,856.4% in the first quarter. Financial Network Wealth Advisors LLC now owns 763 shares of the pipeline company’s stock valued at $31,000 after acquiring an additional 724 shares during the last quarter. Sound Income Strategies LLC acquired a new stake in shares of Western Midstream Partners in the second quarter valued at about $39,000. MTM Investment Management LLC acquired a new stake in shares of Western Midstream Partners in the second quarter valued at about $39,000. Bessemer Group Inc. acquired a new stake in shares of Western Midstream Partners in the first quarter valued at about $41,000. Finally, Allworth Financial LP acquired a new stake in shares of Western Midstream Partners in the second quarter valued at about $43,000. Institutional investors and hedge funds own 84.82% 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.