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

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

Several other research firms have also issued reports on WES. Stifel Nicolaus increased their price target on shares of Western Midstream Partners from $39.00 to $40.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. Wells Fargo & Company increased their target price on Western Midstream Partners from $34.00 to $35.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 21st. Morgan Stanley lowered Western Midstream Partners from an “overweight” rating to an “equal weight” rating and set a $42.00 price target on the stock. in a research note on Monday. Finally, Royal Bank of Canada upped their price target on Western Midstream Partners from $36.00 to $38.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 27th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $36.75.

Western Midstream Partners Price Performance

Shares of WES stock opened at $39.63 on Tuesday. Western Midstream Partners has a 12 month low of $26.11 and a 12 month high of $42.80. The company has a market capitalization of $15.08 billion, a P/E ratio of 11.16, a P/E/G ratio of 0.75 and a beta of 2.87. The stock has a 50 day moving average of $39.29 and a two-hundred day moving average of $37.60. The company has a current ratio of 1.68, a quick 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 for the quarter, topping analysts’ consensus estimates of $0.88 by $0.09. Western Midstream Partners had a net margin of 44.01% and a return on equity of 47.19%. The firm had revenue of $905.63 million for the quarter, compared to the consensus estimate of $904.94 million. During the same quarter in the previous year, the company earned $0.64 earnings per share. The business’s revenue was up 22.7% compared to the same quarter last year. As a group, equities analysts expect that Western Midstream Partners will post 4.16 EPS for the current year.

Insider Activity

In other Western Midstream Partners news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the business’s stock in a transaction dated 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 directly owns 165,681,578 shares of the company’s stock, valued at $5,923,116,413.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.04% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Western Midstream Partners

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Eagle Bay Advisors LLC acquired a new stake in shares of Western Midstream Partners during the 1st quarter worth approximately $29,000. American National Bank grew its holdings in Western Midstream Partners by 34.5% during the 1st quarter. American National Bank now owns 1,190 shares of the pipeline company’s stock worth $42,000 after acquiring an additional 305 shares during the period. Retirement Group LLC raised its position in shares of Western Midstream Partners by 40.2% during the 1st quarter. Retirement Group LLC now owns 1,591 shares of the pipeline company’s stock valued at $57,000 after acquiring an additional 456 shares during the last quarter. EverSource Wealth Advisors LLC acquired a new position in shares of Western Midstream Partners in the 2nd quarter valued at $74,000. Finally, Triad Wealth Partners LLC bought a new position in shares of Western Midstream Partners in the 2nd quarter worth $78,000. 42.94% of the stock is owned by institutional investors and hedge funds.

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.