Western Midstream Partners, LP (NYSE:WES) Receives $38.43 Consensus PT from Brokerages

Western Midstream Partners, LP (NYSE:WES) has been assigned a consensus recommendation of “Reduce” from the nine brokerages that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $38.43.

Several research analysts recently commented on the stock. US Capital Advisors raised shares of Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 26th. UBS Group cut their price target on Western Midstream Partners from $40.00 to $37.00 and set a “neutral” rating for the company in a report on Friday, November 15th. Royal Bank of Canada reiterated a “sector perform” rating and set a $41.00 price objective on shares of Western Midstream Partners in a research note on Monday, December 9th. Finally, StockNews.com raised Western Midstream Partners from a “hold” rating to a “buy” rating in a report on Saturday.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Cary Street Partners Financial LLC bought a new stake in Western Midstream Partners during the fourth quarter valued at approximately $39,000. Harbour Investments Inc. lifted its holdings in shares of Western Midstream Partners by 555.6% during the 4th quarter. Harbour Investments Inc. now owns 1,180 shares of the pipeline company’s stock worth $45,000 after acquiring an additional 1,000 shares during the last quarter. Global Retirement Partners LLC purchased a new position in Western Midstream Partners in the fourth quarter worth $51,000. Empowered Funds LLC bought a new position in Western Midstream Partners in the fourth quarter valued at $53,000. Finally, Farther Finance Advisors LLC raised its position in Western Midstream Partners by 287.3% during the third quarter. Farther Finance Advisors LLC now owns 1,437 shares of the pipeline company’s stock valued at $55,000 after purchasing an additional 1,066 shares in the last quarter. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Western Midstream Partners Price Performance

Shares of NYSE:WES opened at $38.94 on Friday. The company has a 50-day moving average price of $40.45 and a two-hundred day moving average price of $39.25. Western Midstream Partners has a twelve month low of $33.39 and a twelve month high of $43.33. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.05. The firm has a market capitalization of $14.85 billion, a PE ratio of 9.93, a P/E/G ratio of 1.40 and a beta of 2.88.

Western Midstream Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a $0.875 dividend. The ex-dividend date was Monday, February 3rd. This represents a $3.50 annualized dividend and a dividend yield of 8.99%. Western Midstream Partners’s payout ratio is currently 86.85%.

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.