Western Midstream Partners (NYSE:WES) Upgraded at Wall Street Zen

Western Midstream Partners (NYSE:WES) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Sunday.

WES has been the subject of a number of other research reports. Stifel Nicolaus set a $43.00 price target on Western Midstream Partners in a report on Thursday, November 6th. Wells Fargo & Company lifted their target price on Western Midstream Partners from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 13th. Royal Bank Of Canada raised their target price on Western Midstream Partners from $39.00 to $42.00 and gave the stock a “sector perform” rating in a research note on Friday, November 28th. Citigroup started coverage on Western Midstream Partners in a report on Monday, October 20th. They issued a “neutral” rating and a $39.00 price target on the stock. Finally, Morgan Stanley dropped their target price on shares of Western Midstream Partners from $41.00 to $39.00 and set an “underweight” rating for the company in a research report on Tuesday, August 26th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Western Midstream Partners currently has a consensus rating of “Hold” and a consensus price target of $41.50.

Western Midstream Partners Price Performance

Shares of NYSE:WES opened at $39.45 on Friday. The stock has a fifty day moving average of $38.63 and a 200-day moving average of $38.74. The company has a market capitalization of $16.09 billion, a PE ratio of 11.67 and a beta of 0.76. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.43 and a current ratio of 1.43. Western Midstream Partners has a one year low of $33.60 and a one year high of $43.33.

Western Midstream Partners (NYSE:WES) last released its quarterly earnings results on Tuesday, November 4th. The pipeline company reported $0.87 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.87. Western Midstream Partners had a net margin of 35.18% and a return on equity of 39.37%. The business had revenue of $952.48 million for the quarter, compared to the consensus estimate of $965.55 million. During the same quarter last year, the firm earned $0.74 EPS. Western Midstream Partners’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, equities analysts anticipate that Western Midstream Partners will post 4.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in WES. Alps Advisors Inc. raised its stake in Western Midstream Partners by 0.3% during the 3rd quarter. Alps Advisors Inc. now owns 34,774,726 shares of the pipeline company’s stock valued at $1,366,299,000 after acquiring an additional 98,819 shares in the last quarter. Invesco Ltd. lifted its position in shares of Western Midstream Partners by 0.3% in the third quarter. Invesco Ltd. now owns 24,292,437 shares of the pipeline company’s stock worth $954,450,000 after buying an additional 81,183 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Western Midstream Partners by 1.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,658,988 shares of the pipeline company’s stock worth $354,672,000 after acquiring an additional 149,833 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Western Midstream Partners in the 3rd quarter valued at approximately $300,257,000. Finally, Chickasaw Capital Management LLC lifted its position in shares of Western Midstream Partners by 1.1% in the 2nd quarter. Chickasaw Capital Management LLC now owns 6,794,472 shares of the pipeline company’s stock worth $262,946,000 after acquiring an additional 72,459 shares during the period. 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.