Western Midstream Partners, LP (NYSE:WES) Receives $30.75 Consensus PT from Brokerages

Shares of Western Midstream Partners, LP (NYSE:WES) have been assigned an average rating of “Hold” from the thirteen analysts that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $30.64.

Several research analysts have issued reports on WES shares. Wolfe Research raised shares of Western Midstream Partners from an “underperform” rating to a “peer perform” rating in a report on Thursday. Raymond James reaffirmed a “market perform” rating on shares of Western Midstream Partners in a report on Tuesday, March 19th. Stifel Nicolaus lifted their target price on shares of Western Midstream Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Finally, Citigroup cut shares of Western Midstream Partners from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $30.00 to $34.00 in a report on Thursday, February 29th.

Western Midstream Partners Trading Up 0.6 %

NYSE:WES opened at $34.65 on Tuesday. The company has a 50-day moving average price of $33.63 and a 200-day moving average price of $30.04. Western Midstream Partners has a 12 month low of $24.89 and a 12 month high of $36.79. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 2.40. The stock has a market cap of $13.18 billion, a price-to-earnings ratio of 13.33 and a beta of 2.83.

Western Midstream Partners (NYSE:WES) last issued its quarterly earnings results on Wednesday, February 21st. The pipeline company reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.04). Western Midstream Partners had a net margin of 32.72% and a return on equity of 33.58%. The business had revenue of $858.21 million for the quarter, compared to analysts’ expectations of $850.23 million. During the same period last year, the business earned $0.85 earnings per share. The company’s revenue was up 10.1% on a year-over-year basis. Equities analysts predict that Western Midstream Partners will post 3.45 EPS for the current year.

Western Midstream Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 13th. Stockholders of record on Thursday, February 1st were paid a $0.575 dividend. The ex-dividend date was Wednesday, January 31st. This represents a $2.30 dividend on an annualized basis and a dividend yield of 6.64%. Western Midstream Partners’s dividend payout ratio is presently 88.46%.

Insider Transactions at Western Midstream Partners

In other Western Midstream Partners news, Director Kenneth F. Owen bought 7,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was bought at an average cost of $33.96 per share, for a total transaction of $237,720.00. Following the completion of the transaction, the director now owns 32,730 shares of the company’s stock, valued at approximately $1,111,510.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Western Midstream Partners news, Director Kenneth F. Owen bought 7,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was bought at an average cost of $33.96 per share, for a total transaction of $237,720.00. Following the completion of the transaction, the director now owns 32,730 shares of the company’s stock, valued at approximately $1,111,510.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lisa A. Stewart bought 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were acquired at an average price of $34.87 per share, with a total value of $87,175.00. Following the completion of the transaction, the director now directly owns 30,730 shares of the company’s stock, valued at approximately $1,071,555.10. The disclosure for this purchase can be found here. Company insiders own 0.04% of the company’s stock.

Institutional Trading of Western Midstream Partners

Several large investors have recently added to or reduced their stakes in WES. American National Bank boosted its position in shares of Western Midstream Partners by 34.5% in the first quarter. American National Bank now owns 1,190 shares of the pipeline company’s stock worth $42,000 after purchasing an additional 305 shares during the period. Northern Trust Corp boosted its position in shares of Western Midstream Partners by 1.3% in the second quarter. Northern Trust Corp now owns 28,365 shares of the pipeline company’s stock worth $752,000 after purchasing an additional 376 shares during the period. Retirement Group LLC boosted its position in shares of Western Midstream Partners by 52.4% in the second quarter. Retirement Group LLC now owns 1,105 shares of the pipeline company’s stock worth $29,000 after purchasing an additional 380 shares during the period. Chicago Partners Investment Group LLC boosted its position in shares of Western Midstream Partners by 1.6% in the third quarter. Chicago Partners Investment Group LLC now owns 26,363 shares of the pipeline company’s stock worth $725,000 after purchasing an additional 407 shares during the period. Finally, Wealth Alliance boosted its position in shares of Western Midstream Partners by 3.7% in the fourth quarter. Wealth Alliance now owns 12,848 shares of the pipeline company’s stock worth $376,000 after purchasing an additional 458 shares during the period. 42.94% of the stock is currently owned by institutional investors.

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.