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

Western Midstream Partners, LP (NYSE:WES) has earned a consensus rating of “Hold” from the five analysts that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $41.3333.

A number of equities analysts have issued reports on the company. Stifel Nicolaus set a $43.00 price target on Western Midstream Partners in a report on Thursday, November 6th. Wells Fargo & Company dropped their target price on shares of Western Midstream Partners from $40.00 to $39.00 and set an “equal weight” rating on the stock in a research report on Thursday. Citigroup began coverage on shares of Western Midstream Partners in a research note on Monday, October 20th. They set a “neutral” rating and a $39.00 target price on the stock. Wall Street Zen cut shares of Western Midstream Partners from a “buy” rating to a “hold” rating in a report on Saturday, December 27th. Finally, Royal Bank Of Canada upped their price objective on shares of Western Midstream Partners from $39.00 to $42.00 and gave the company a “sector perform” rating in a report on Friday, November 28th.

Institutional Investors Weigh In On Western Midstream Partners

Hedge funds have recently added to or reduced their stakes in the company. Eagle Bay Advisors LLC purchased a new stake in Western Midstream Partners in the 4th quarter valued at $27,000. Global Wealth Strategies & Associates bought a new stake in shares of Western Midstream Partners in the 4th quarter worth $35,000. Jones Financial Companies Lllp raised its holdings in shares of Western Midstream Partners by 86.1% in the third quarter. Jones Financial Companies Lllp now owns 908 shares of the pipeline company’s stock valued at $36,000 after purchasing an additional 420 shares during the last quarter. Sound Income Strategies LLC bought a new position in shares of Western Midstream Partners during the second quarter valued at about $39,000. Finally, MTM Investment Management LLC bought a new position in shares of Western Midstream Partners during the second quarter valued at about $39,000. Institutional investors and hedge funds own 84.82% of the company’s stock.

Western Midstream Partners Stock Performance

WES stock opened at $40.72 on Monday. The stock has a 50-day moving average price of $39.78 and a 200-day moving average price of $39.14. Western Midstream Partners has a 1-year low of $33.60 and a 1-year high of $43.11. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 2.08. The firm has a market cap of $16.61 billion, a PE ratio of 12.05 and a beta of 0.76.

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

Western Midstream Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Monday, February 2nd will be paid a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 8.9%. The ex-dividend date of this dividend is Monday, February 2nd. Western Midstream Partners’s dividend payout ratio is 107.69%.

About Western Midstream Partners

Western Midstream Partners, LP (NYSE: WES) is a midstream energy infrastructure company that owns, operates and develops an integrated network of crude oil, natural gas and produced water gathering, processing, transportation and storage assets in the United States. The partnership’s primary offerings include pipeline transportation, fractionation services, natural gas liquids (NGL) logistics and produced water handling. Through its fee-based and commodity-based contracts, Western Midstream provides its customers with essential services that support efficient energy production and distribution.

The company’s asset portfolio spans key onshore basins, including the Delaware Basin in West Texas and southeastern New Mexico, the San Juan Basin in New Mexico and Colorado, and the Denver-Julesburg Basin in Colorado.