US Capital Advisors Has Negative View of WES FY2024 Earnings

Western Midstream Partners, LP (NYSE:WES) – US Capital Advisors cut their FY2024 EPS estimates for Western Midstream Partners in a research note issued to investors on Tuesday, November 26th. US Capital Advisors analyst J. Carreker now forecasts that the pipeline company will post earnings per share of $4.05 for the year, down from their prior forecast of $4.17. US Capital Advisors currently has a “Moderate Buy” rating on the stock. The consensus estimate for Western Midstream Partners’ current full-year earnings is $4.09 per share. US Capital Advisors also issued estimates for Western Midstream Partners’ Q4 2024 earnings at $0.87 EPS, Q1 2025 earnings at $0.84 EPS, Q2 2025 earnings at $0.87 EPS, Q3 2025 earnings at $0.88 EPS, Q4 2025 earnings at $0.96 EPS, FY2025 earnings at $3.56 EPS and FY2026 earnings at $3.84 EPS.

Western Midstream Partners (NYSE:WES) last announced its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.74 earnings per share 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 company had revenue of $883.36 million for the quarter, compared to analyst estimates of $924.83 million. During the same quarter in the prior year, the business earned $0.70 earnings per share. Western Midstream Partners’s revenue was up 13.8% on a year-over-year basis.

A number of other equities research analysts have also recently weighed in on WES. Morgan Stanley cut 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. StockNews.com cut shares of Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, October 28th. Royal Bank of Canada lifted their price objective on shares of Western Midstream Partners from $38.00 to $41.00 and gave the company a “sector perform” rating in a report on Wednesday, October 16th. UBS Group dropped their price objective on shares of Western Midstream Partners from $40.00 to $37.00 and set a “neutral” rating for the company in a report on Friday, November 15th. Finally, Stifel Nicolaus lifted their price objective on shares of Western Midstream Partners from $39.00 to $40.00 and gave the company a “hold” rating in a report on Friday, August 9th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $37.88.

Western Midstream Partners Price Performance

Shares of WES opened at $39.63 on Thursday. Western Midstream Partners has a 1-year low of $26.81 and a 1-year high of $42.80. The stock has a market cap of $15.08 billion, a PE ratio of 10.11, a P/E/G ratio of 1.04 and a beta of 2.88. The firm has a 50-day simple moving average of $38.27 and a two-hundred day simple moving average of $38.73. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.11 and a quick ratio of 1.11.

Western Midstream Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were issued a dividend of $0.875 per share. This represents a $3.50 annualized dividend and a yield of 8.83%. The ex-dividend date of this dividend was Friday, November 1st. Western Midstream Partners’s dividend payout ratio (DPR) is presently 89.29%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its position in shares of Western Midstream Partners by 287.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,437 shares of the pipeline company’s stock worth $55,000 after buying an additional 1,066 shares during the last quarter. EverSource Wealth Advisors LLC purchased a new stake in shares of Western Midstream Partners during the 2nd quarter worth approximately $74,000. Triad Wealth Partners LLC purchased a new stake in shares of Western Midstream Partners during the 2nd quarter worth approximately $78,000. Cedar Mountain Advisors LLC lifted its position in shares of Western Midstream Partners by 16.1% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 2,158 shares of the pipeline company’s stock worth $83,000 after buying an additional 299 shares during the last quarter. Finally, Millburn Ridgefield Corp purchased a new stake in shares of Western Midstream Partners during the 3rd quarter worth approximately $86,000. Institutional investors and hedge funds own 42.94% of the company’s stock.

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.