Western Midstream Partners, LP (NYSE:WES) Receives Consensus Rating of “Reduce” from Analysts

Shares of Western Midstream Partners, LP (NYSE:WES) have earned a consensus rating of “Reduce” from the ten brokerages that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $38.13.

Several research analysts recently issued reports on the stock. Bank of America assumed 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 for the company. Royal Bank of Canada raised their price target on shares of Western Midstream Partners from $38.00 to $41.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 16th. Stifel Nicolaus raised their price target on shares of Western Midstream Partners from $39.00 to $40.00 and gave the company a “hold” rating in a research report on Friday, August 9th. StockNews.com lowered shares of Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 28th. Finally, Morgan Stanley lowered shares of Western Midstream Partners from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $42.00 to $40.00 in a research report on Friday, October 25th.

Insider Activity at Western Midstream Partners

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were 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 owns 165,681,578 shares in the company, valued at approximately $5,923,116,413.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.04% of the company’s stock.

Hedge Funds Weigh In On Western Midstream Partners

Large investors have recently modified their holdings of the business. Eagle Bay Advisors LLC purchased a new stake in Western Midstream Partners in the first quarter valued at approximately $29,000. Farther Finance Advisors LLC grew its stake in Western Midstream Partners by 287.3% in 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. EverSource Wealth Advisors LLC bought a new stake in shares of Western Midstream Partners during the 2nd quarter worth about $74,000. Triad Wealth Partners LLC acquired a new position in shares of Western Midstream Partners during the 2nd quarter worth about $78,000. Finally, Cedar Mountain Advisors LLC raised its holdings in Western Midstream Partners by 16.1% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 2,158 shares of the pipeline company’s stock valued at $83,000 after acquiring an additional 299 shares in the last quarter. 42.94% of the stock is owned by hedge funds and other institutional investors.

Western Midstream Partners Trading Down 2.7 %

NYSE:WES opened at $36.70 on Friday. The firm has a 50 day moving average of $38.59 and a 200 day moving average of $38.40. The stock has a market capitalization of $13.96 billion, a price-to-earnings ratio of 9.46, a PEG ratio of 0.71 and a beta of 2.87. Western Midstream Partners has a 52 week low of $26.81 and a 52 week high of $42.80. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.08.

Western Midstream Partners (NYSE:WES) last posted its quarterly earnings results on Wednesday, August 7th. The pipeline company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.09. The business had revenue of $905.63 million during the quarter, compared to analysts’ expectations of $904.94 million. Western Midstream Partners had a net margin of 44.01% and a return on equity of 47.19%. The business’s quarterly revenue was up 22.7% on a year-over-year basis. During the same quarter last year, the company posted $0.64 earnings per share. As a group, sell-side analysts anticipate that Western Midstream Partners will post 4.14 earnings per share for the current fiscal year.

Western Midstream Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Friday, November 1st will be paid a dividend of $0.875 per share. This represents a $3.50 dividend on an annualized basis and a yield of 9.54%. The ex-dividend date of this dividend is Friday, November 1st. Western Midstream Partners’s dividend payout ratio (DPR) is presently 90.21%.

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.