Western Midstream Partners (NYSE:WES) Price Target Raised to $47.00

Western Midstream Partners (NYSE:WES) had its target price hoisted by JPMorgan Chase & Co. from $46.00 to $47.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a neutral rating on the pipeline company’s stock.

Other equities research analysts have also recently issued reports about the stock. Stifel Nicolaus set a $46.00 price objective on shares of Western Midstream Partners and gave the company a “buy” rating in a research report on Thursday, May 7th. Mizuho increased their target price on Western Midstream Partners from $48.00 to $51.00 and gave the stock an “outperform” rating in a report on Tuesday. US Capital Advisors raised Western Midstream Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, May 29th. Wall Street Zen upgraded Western Midstream Partners from a “hold” rating to a “buy” rating in a report on Sunday, July 12th. Finally, UBS Group upped their price objective on Western Midstream Partners from $45.00 to $48.00 and gave the stock a “neutral” rating in a research report on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $46.25.

Western Midstream Partners Trading Up 1.7%

NYSE:WES opened at $46.14 on Tuesday. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a market capitalization of $18.17 billion, a PE ratio of 15.08, a price-to-earnings-growth ratio of 1.91 and a beta of 0.68. The business’s 50-day simple moving average is $44.42 and its 200-day simple moving average is $42.39. Western Midstream Partners has a fifty-two week low of $36.90 and a fifty-two week high of $48.01.

Western Midstream Partners (NYSE:WES) last announced its quarterly earnings results on Wednesday, May 6th. The pipeline company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.11. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.01 billion. Western Midstream Partners had a net margin of 29.98% and a return on equity of 33.89%. The business’s revenue was up 22.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.79 earnings per share. Sell-side analysts expect that Western Midstream Partners will post 3.45 earnings per share for the current fiscal year.

Western Midstream Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were given a $0.93 dividend. This is a boost from Western Midstream Partners’s previous quarterly dividend of $0.91. This represents a $3.72 dividend on an annualized basis and a dividend yield of 8.1%. The ex-dividend date of this dividend was Friday, May 1st. Western Midstream Partners’s payout ratio is presently 121.57%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Eagle Bay Advisors LLC bought a new stake in Western Midstream Partners during the 4th quarter worth about $27,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Western Midstream Partners during the 4th quarter worth about $27,000. Rothschild Investment LLC grew its holdings in shares of Western Midstream Partners by 76.2% in the 4th quarter. Rothschild Investment LLC now owns 793 shares of the pipeline company’s stock valued at $31,000 after acquiring an additional 343 shares in the last quarter. Garton & Associates Financial Advisors LLC acquired a new position in Western Midstream Partners during the fourth quarter valued at approximately $32,000. Finally, Global Wealth Strategies & Associates bought a new position in Western Midstream Partners in the fourth quarter valued at approximately $35,000. 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.