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

Western Midstream Partners, LP (NYSE:WES) has been given a consensus recommendation of “Reduce” by the nine brokerages that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, six have given a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $38.43.

Several research analysts have recently weighed in on the stock. UBS Group decreased 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. StockNews.com cut Western Midstream Partners from a “buy” rating to a “hold” rating in a report on Friday, February 28th. US Capital Advisors upgraded Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $41.00 price objective on shares of Western Midstream Partners in a research report on Monday, December 9th.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in WES. Novem Group bought a new stake in Western Midstream Partners during the 4th quarter worth approximately $695,000. State of Wyoming increased its stake in shares of Western Midstream Partners by 40.6% in the fourth quarter. State of Wyoming now owns 3,323 shares of the pipeline company’s stock worth $128,000 after purchasing an additional 960 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Western Midstream Partners by 23.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,273,186 shares of the pipeline company’s stock valued at $279,509,000 after purchasing an additional 1,366,341 shares during the period. Eagle Global Advisors LLC lifted its stake in shares of Western Midstream Partners by 23.2% during the 4th quarter. Eagle Global Advisors LLC now owns 2,434,080 shares of the pipeline company’s stock valued at $93,542,000 after buying an additional 458,111 shares in the last quarter. Finally, Cresset Asset Management LLC bought a new position in Western Midstream Partners in the 4th quarter worth $1,126,000. 84.82% of the stock is owned by hedge funds and other institutional investors.

Western Midstream Partners Stock Down 1.5 %

Western Midstream Partners stock opened at $37.78 on Friday. Western Midstream Partners has a 12 month low of $33.39 and a 12 month high of $43.33. The stock has a fifty day simple moving average of $40.48 and a two-hundred day simple moving average of $39.24. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.05. The firm has a market cap of $14.41 billion, a price-to-earnings ratio of 9.64, a PEG ratio of 1.40 and a beta of 2.88.

Western Midstream Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were given a $0.875 dividend. This represents a $3.50 dividend on an annualized basis and a yield of 9.26%. The ex-dividend date of this dividend was Monday, February 3rd. Western Midstream Partners’s payout ratio is 86.85%.

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.