Western Midstream Partners (NYSE:WES) Stock Rating Upgraded by StockNews.com

Western Midstream Partners (NYSE:WES) was upgraded by investment analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Tuesday.

Several other research analysts also recently issued reports on the stock. Mizuho upped their price target on shares of Western Midstream Partners from $34.00 to $39.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. Royal Bank of Canada upped their target price on Western Midstream Partners from $36.00 to $38.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 27th. Stifel Nicolaus boosted their price target on Western Midstream Partners from $39.00 to $40.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Finally, Wells Fargo & Company raised their price objective on shares of Western Midstream Partners from $34.00 to $35.00 and gave the company an “equal weight” rating in a report on Tuesday, May 21st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Western Midstream Partners currently has an average rating of “Hold” and a consensus target price of $34.38.

Western Midstream Partners Trading Down 0.9 %

Shares of WES stock opened at $37.64 on Tuesday. Western Midstream Partners has a fifty-two week low of $25.69 and a fifty-two week high of $42.80. The stock’s fifty day moving average price is $39.69 and its two-hundred day moving average price is $37.18. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.68 and a current ratio of 1.68. The company has a market cap of $14.32 billion, a PE ratio of 10.60, a P/E/G ratio of 0.73 and a beta of 2.90.

Western Midstream Partners (NYSE:WES) last released its earnings results on Wednesday, August 7th. The pipeline company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.09. Western Midstream Partners had a return on equity of 47.19% and a net margin of 44.01%. The firm had revenue of $905.63 million for the quarter, compared to analysts’ expectations of $904.94 million. During the same quarter in the previous year, the business posted $0.64 earnings per share. The business’s revenue for the quarter was up 22.7% on a year-over-year basis. Equities analysts predict that Western Midstream Partners will post 4.16 EPS for the current fiscal year.

Insider Activity at Western Midstream Partners

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of Western Midstream Partners stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total value of $697,125,000.00. Following the completion of the transaction, the insider now directly owns 165,681,578 shares of the company’s stock, valued at approximately $5,923,116,413.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.04% of the stock is owned by company insiders.

Institutional Trading of Western Midstream Partners

Several hedge funds have recently modified their holdings of the stock. Blackstone Inc. increased its stake in Western Midstream Partners by 2.0% in the first quarter. Blackstone Inc. now owns 12,980,724 shares of the pipeline company’s stock valued at $461,465,000 after purchasing an additional 259,928 shares in the last quarter. Chickasaw Capital Management LLC raised its stake in Western Midstream Partners by 0.6% during the 2nd quarter. Chickasaw Capital Management LLC now owns 6,711,006 shares of the pipeline company’s stock worth $266,628,000 after buying an additional 37,259 shares during the period. Kayne Anderson Capital Advisors LP boosted its holdings in Western Midstream Partners by 27.4% in the first 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 in the last quarter. BROOKFIELD Corp ON grew its stake in Western Midstream Partners by 2.7% in the first quarter. BROOKFIELD Corp ON now owns 2,953,510 shares of the pipeline company’s stock valued at $104,997,000 after acquiring an additional 77,942 shares during the period. Finally, Jennison Associates LLC increased its holdings in shares of Western Midstream Partners by 96.0% during the first 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 in the last quarter. Institutional investors own 42.94% of the company’s stock.

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.