Western Midstream Partners (NYSE:WES) Given New $43.00 Price Target at JPMorgan Chase & Co.

Western Midstream Partners (NYSE:WES) had its price objective decreased by JPMorgan Chase & Co. from $44.00 to $43.00 in a report published on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the pipeline company’s stock.

A number of other analysts have also commented on WES. Wells Fargo & Company lowered their price objective on Western Midstream Partners from $40.00 to $39.00 and set an “equal weight” rating for the company in a research report on Thursday, January 22nd. Stifel Nicolaus cut their target price on shares of Western Midstream Partners from $43.00 to $42.00 and set a “hold” rating on the stock in a research report on Friday, February 20th. Royal Bank Of Canada lifted their price target 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. Finally, Wall Street Zen downgraded shares of Western Midstream Partners from a “buy” rating to a “hold” rating in a research note on Saturday, December 27th. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $41.43.

Western Midstream Partners Stock Performance

WES stock opened at $40.73 on Thursday. The company has a 50 day moving average price of $41.35 and a 200 day moving average price of $39.64. Western Midstream Partners has a fifty-two week low of $33.60 and a fifty-two week high of $44.74. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.34 and a quick ratio of 1.34. The stock has a market capitalization of $16.03 billion, a PE ratio of 13.58 and a beta of 0.76.

Western Midstream Partners (NYSE:WES) last announced its quarterly earnings data on Wednesday, February 18th. The pipeline company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.44). The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.06 billion. Western Midstream Partners had a net margin of 30.52% and a return on equity of 33.14%. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.85 earnings per share. Analysts forecast that Western Midstream Partners will post 4.02 EPS for the current year.

Western Midstream Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 2nd were paid a $0.91 dividend. The ex-dividend date of this dividend was Monday, February 2nd. This represents a $3.64 dividend on an annualized basis and a dividend yield of 8.9%. Western Midstream Partners’s dividend payout ratio is 121.33%.

Insider Buying and Selling

In related news, SVP Christopher B. Dial sold 5,879 shares of Western Midstream Partners stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $42.35, for a total transaction of $248,975.65. Following the transaction, the senior vice president owned 185,011 shares of the company’s stock, valued at $7,835,215.85. This trade represents a 3.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert G. Phillips acquired 1,250 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The shares were purchased at an average price of $40.19 per share, with a total value of $50,237.50. Following the acquisition, the director owned 5,296 shares of the company’s stock, valued at approximately $212,846.24. This trade represents a 30.89% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 0.04% of the company’s stock.

Institutional Trading of Western Midstream Partners

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