Western Midstream Partners (NYSE:WES) Rating Lowered to Buy at StockNews.com

Western Midstream Partners (NYSE:WES) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Wednesday.

A number of other brokerages have also recently commented on WES. Mizuho lifted their target price on shares of Western Midstream Partners from $34.00 to $39.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. Wells Fargo & Company lifted their target price on shares of Western Midstream Partners from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 21st. Raymond James reiterated a “market perform” rating on shares of Western Midstream Partners in a research report on Tuesday, March 19th. Wolfe Research upgraded shares of Western Midstream Partners from an “underperform” rating to a “peer perform” rating in a research report on Thursday, April 18th. Finally, Citigroup cut shares of Western Midstream Partners from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $30.00 to $34.00 in a research report on Thursday, February 29th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Western Midstream Partners currently has an average rating of “Hold” and a consensus price target of $31.55.

Western Midstream Partners Stock Up 0.2 %

Shares of NYSE:WES opened at $39.49 on Wednesday. Western Midstream Partners has a one year low of $25.47 and a one year high of $39.89. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.51 and a quick ratio of 1.51. The company has a market cap of $15.03 billion, a price-to-earnings ratio of 11.12, a PEG ratio of 0.71 and a beta of 2.85. The firm has a fifty day moving average price of $37.21 and a two-hundred day moving average price of $33.27.

Western Midstream Partners (NYSE:WES) last posted its quarterly earnings data on Wednesday, May 8th. The pipeline company reported $1.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.62. Western Midstream Partners had a net margin of 42.50% and a return on equity of 44.76%. The company had revenue of $887.73 million during the quarter, compared to the consensus estimate of $868.22 million. During the same period in the previous year, the firm posted $0.52 EPS. The firm’s revenue was up 20.9% compared to the same quarter last year. Analysts anticipate that Western Midstream Partners will post 4.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Virtu Financial LLC purchased a new position in shares of Western Midstream Partners during the first quarter valued at approximately $323,000. Comerica Bank increased its holdings in Western Midstream Partners by 16.0% during the first quarter. Comerica Bank now owns 11,429 shares of the pipeline company’s stock valued at $406,000 after buying an additional 1,580 shares during the last quarter. Castleark Management LLC increased its holdings in Western Midstream Partners by 13.1% during the first quarter. Castleark Management LLC now owns 143,450 shares of the pipeline company’s stock valued at $5,100,000 after buying an additional 16,650 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its holdings in Western Midstream Partners by 1.7% during the first quarter. B. Riley Wealth Advisors Inc. now owns 34,109 shares of the pipeline company’s stock valued at $1,213,000 after buying an additional 554 shares during the last quarter. Finally, BROOKFIELD Corp ON increased its holdings in Western Midstream Partners by 2.7% during the first quarter. BROOKFIELD Corp ON now owns 2,953,510 shares of the pipeline company’s stock valued at $104,997,000 after buying an additional 77,942 shares during the last quarter. 42.94% of the stock is owned by hedge funds and other 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.