Western Midstream Partners, LP (NYSE:WES – Get Free Report) saw unusually-strong trading volume on Tuesday after Mizuho raised their price target on the stock from $34.00 to $39.00. Mizuho currently has a buy rating on the stock. Approximately 671,039 shares traded hands during mid-day trading, a decline of 45% from the previous session’s volume of 1,227,281 shares.The stock last traded at $35.72 and had previously closed at $35.64.
WES has been the topic of several other research reports. 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 research report on Friday, February 23rd. Wolfe Research upgraded Western Midstream Partners from an “underperform” rating to a “peer perform” rating in a report on Thursday, April 18th. Citigroup cut Western Midstream Partners from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $30.00 to $34.00 in a research report on Thursday, February 29th. Finally, Raymond James reaffirmed a “market perform” rating on shares of Western Midstream Partners in a research report on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Western Midstream Partners currently has an average rating of “Hold” and an average price target of $31.09.
Check Out Our Latest Report on Western Midstream Partners
Insider Transactions at Western Midstream Partners
Institutional Trading of Western Midstream Partners
Several institutional investors and hedge funds have recently bought and sold shares of WES. Tectonic Advisors LLC increased its holdings in shares of Western Midstream Partners by 2.0% in the first quarter. Tectonic Advisors LLC now owns 127,095 shares of the pipeline company’s stock worth $4,518,000 after purchasing an additional 2,532 shares during the period. Kayne Anderson Capital Advisors LP increased its stake in Western Midstream Partners by 27.4% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 4,165,829 shares of the pipeline company’s stock worth $148,095,000 after acquiring an additional 895,715 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Western Midstream Partners in the 1st quarter valued at about $1,967,000. Belfer Management LLC boosted its position in shares of Western Midstream Partners by 4.4% during the 1st quarter. Belfer Management LLC now owns 9,957 shares of the pipeline company’s stock valued at $354,000 after acquiring an additional 418 shares during the last quarter. Finally, Jennison Associates LLC boosted its position in shares of Western Midstream Partners by 96.0% during the 1st quarter. Jennison Associates LLC now owns 1,928,179 shares of the pipeline company’s stock valued at $68,547,000 after acquiring an additional 944,494 shares during the last quarter. 42.94% of the stock is currently owned by hedge funds and other institutional investors.
Western Midstream Partners Stock Down 0.4 %
The company has a debt-to-equity ratio of 2.40, a current ratio of 0.76 and a quick ratio of 0.76. The company has a fifty day moving average price of $34.96 and a 200 day moving average price of $30.86. The company has a market cap of $13.51 billion, a PE ratio of 13.65 and a beta of 2.82.
Western Midstream Partners (NYSE:WES – Get Free Report) last released its quarterly earnings results on Wednesday, February 21st. The pipeline company reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.04). Western Midstream Partners had a return on equity of 33.58% and a net margin of 32.72%. The company had revenue of $858.21 million during the quarter, compared to analysts’ expectations of $850.23 million. During the same period in the prior year, the firm earned $0.85 EPS. Western Midstream Partners’s quarterly revenue was up 10.1% on a year-over-year basis. As a group, analysts anticipate that Western Midstream Partners, LP will post 3.42 EPS for the current year.
Western Midstream Partners Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be paid a dividend of $0.875 per share. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $3.50 annualized dividend and a yield of 9.86%. This is a positive change from Western Midstream Partners’s previous quarterly dividend of $0.58. Western Midstream Partners’s payout ratio is 134.62%.
Western Midstream Partners Company Profile
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.
Read More
- Five stocks we like better than Western Midstream Partners
- What is Short Interest? How to Use It
- Lucid’s Stock Price is Still in Reverse: New Lows Are Coming
- Insider Buying Explained: What Investors Need to Know
- Generac Powers Ahead on the Electrification Mega-Trend
- Utilities Stocks Explained – How and Why to Invest in Utilities
- PulteGroup Wins and Wins More on Interest Rate Cuts
Receive News & Ratings for Western Midstream Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Midstream Partners and related companies with MarketBeat.com's FREE daily email newsletter.