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

Shares of Western Midstream Partners, LP (NYSE:WES) have earned a consensus recommendation of “Reduce” from the ten analysts that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $37.88.

A number of analysts have weighed in on the stock. US Capital Advisors raised shares of Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Morgan Stanley lowered Western Midstream Partners from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $42.00 to $40.00 in a research report on Friday, October 25th. UBS Group lowered their target price on Western Midstream Partners from $40.00 to $37.00 and set a “neutral” rating for the company in a report on Friday, November 15th. Royal Bank of Canada reissued a “sector perform” rating and set a $41.00 price target on shares of Western Midstream Partners in a research note on Monday, December 9th. Finally, Bank of America started coverage on Western Midstream Partners in a research note on Thursday, October 17th. They issued an “underperform” rating and a $37.00 price objective for the company.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Howard Financial Services LTD. bought a new stake in Western Midstream Partners during the fourth quarter worth $384,000. Adams Asset Advisors LLC grew its stake in shares of Western Midstream Partners by 0.7% in the 4th quarter. Adams Asset Advisors LLC now owns 323,781 shares of the pipeline company’s stock worth $12,443,000 after acquiring an additional 2,139 shares in the last quarter. Kieckhefer Group LLC bought a new stake in shares of Western Midstream Partners in the 4th quarter worth $58,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Western Midstream Partners by 9.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 35,838 shares of the pipeline company’s stock valued at $1,371,000 after purchasing an additional 3,050 shares during the last quarter. Finally, Avondale Wealth Management bought a new position in shares of Western Midstream Partners during the fourth quarter valued at about $77,000. Institutional investors own 84.82% of the company’s stock.

Western Midstream Partners Stock Performance

NYSE:WES opened at $41.18 on Thursday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.05. The firm has a market capitalization of $15.67 billion, a PE ratio of 10.51, a price-to-earnings-growth ratio of 1.08 and a beta of 2.90. Western Midstream Partners has a twelve month low of $27.49 and a twelve month high of $42.80. The stock’s 50-day simple moving average is $38.96 and its 200 day simple moving average is $39.09.

Western Midstream Partners (NYSE:WES) last posted 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). The company had revenue of $883.36 million during the quarter, compared to analyst estimates of $924.83 million. Western Midstream Partners had a net margin of 42.99% and a return on equity of 46.02%. The company’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.70 earnings per share. On average, analysts anticipate that Western Midstream Partners will post 4.03 EPS for the current fiscal 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.