Western Midstream Partners, LP (NYSE:WES) Receives $37.88 Consensus PT from Analysts

Shares of Western Midstream Partners, LP (NYSE:WES) have been assigned an average rating of “Reduce” from the ten analysts that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $37.88.

WES has been the topic of a number of analyst reports. Morgan Stanley downgraded shares of Western Midstream Partners from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $42.00 to $40.00 in a research report on Friday, October 25th. US Capital Advisors upgraded shares of Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 26th. Bank of America started coverage on shares of Western Midstream Partners in a report on Thursday, October 17th. They set an “underperform” rating and a $37.00 target price on the stock. StockNews.com downgraded shares of Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, October 28th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $41.00 target price on shares of Western Midstream Partners in a report on Monday, December 9th.

Hedge Funds Weigh In On Western Midstream Partners

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Chickasaw Capital Management LLC increased its holdings in shares of Western Midstream Partners by 1.5% in the fourth quarter. Chickasaw Capital Management LLC now owns 6,755,387 shares of the pipeline company’s stock valued at $259,610,000 after purchasing an additional 99,518 shares during the last quarter. Kayne Anderson Capital Advisors LP increased its holdings in shares of Western Midstream Partners by 23.5% in the third quarter. Kayne Anderson Capital Advisors LP now owns 6,228,448 shares of the pipeline company’s stock valued at $238,300,000 after purchasing an additional 1,184,597 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Western Midstream Partners by 60.1% in the third quarter. JPMorgan Chase & Co. now owns 1,785,105 shares of the pipeline company’s stock valued at $68,298,000 after purchasing an additional 670,440 shares during the last quarter. Fractal Investments LLC increased its holdings in shares of Western Midstream Partners by 5.4% in the third quarter. Fractal Investments LLC now owns 1,465,706 shares of the pipeline company’s stock valued at $56,078,000 after purchasing an additional 75,145 shares during the last quarter. Finally, Recurrent Investment Advisors LLC increased its holdings in shares of Western Midstream Partners by 5.4% in the third quarter. Recurrent Investment Advisors LLC now owns 1,397,140 shares of the pipeline company’s stock valued at $53,455,000 after purchasing an additional 71,210 shares during the last quarter. 84.82% of the stock is owned by institutional investors.

Western Midstream Partners Stock Performance

Western Midstream Partners stock opened at $42.13 on Thursday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.05. Western Midstream Partners has a 1 year low of $27.84 and a 1 year high of $43.33. The company has a market cap of $16.03 billion, a PE ratio of 10.75, a PEG ratio of 1.39 and a beta of 2.90. The company’s 50-day moving average is $39.49 and its two-hundred day moving average is $39.12.

Western Midstream Partners (NYSE:WES) last released its earnings results on Wednesday, November 6th. The pipeline company reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.09). Western Midstream Partners had a net margin of 42.99% and a return on equity of 46.02%. The business had revenue of $883.36 million for the quarter, compared to analyst estimates of $924.83 million. During the same quarter in the previous year, the company posted $0.70 earnings per share. The business’s revenue for the quarter was up 13.8% on a year-over-year basis. Equities analysts anticipate that Western Midstream Partners will post 4.03 earnings per share for the current year.

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.