Western Midstream Partners (NYSE:WES) Stock Price Passes Above 200 Day Moving Average – Should You Sell?

Shares of Western Midstream Partners, LP (NYSE:WES) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $39.18 and traded as high as $40.35. Western Midstream Partners shares last traded at $40.0930, with a volume of 1,362,015 shares.

Analyst Upgrades and Downgrades

WES has been the topic of a number of research analyst reports. Wall Street Zen cut Western Midstream Partners from a “buy” rating to a “hold” rating in a report on Saturday, December 27th. Wells Fargo & Company cut 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 note on Thursday, January 22nd. Citigroup started coverage on shares of Western Midstream Partners in a report on Monday, October 20th. They issued a “neutral” rating and a $39.00 price target for the company. Stifel Nicolaus set a $43.00 price objective on shares of Western Midstream Partners in a report on Thursday, November 6th. Finally, Royal Bank Of Canada increased their price objective on shares of Western Midstream Partners from $39.00 to $42.00 and gave the stock a “sector perform” rating in a research report on Friday, November 28th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $41.33.

Western Midstream Partners Stock Down 3.3%

The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.43 and a current ratio of 1.43. The stock’s 50 day simple moving average is $40.01 and its 200 day simple moving average is $39.18. The firm has a market cap of $16.36 billion, a P/E ratio of 11.86 and a beta of 0.77.

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

Western Midstream Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Monday, February 2nd will be issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 9.1%. The ex-dividend date of this dividend is Monday, February 2nd. Western Midstream Partners’s payout ratio is currently 107.69%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Eagle Bay Advisors LLC bought a new stake in Western Midstream Partners during the fourth quarter worth $27,000. Global Wealth Strategies & Associates purchased a new position in Western Midstream Partners during the 4th quarter worth $35,000. Jones Financial Companies Lllp boosted its holdings in Western Midstream Partners by 86.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 908 shares of the pipeline company’s stock worth $36,000 after acquiring an additional 420 shares during the last quarter. MTM Investment Management LLC bought a new stake in shares of Western Midstream Partners in the 2nd quarter worth $39,000. Finally, Fulcrum Asset Management LLP purchased a new stake in shares of Western Midstream Partners in the third quarter valued at about $41,000. Institutional investors own 84.82% of the company’s stock.

Western Midstream Partners Company Profile

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.