Western Midstream Partners (NYSE:WES) Upgraded to “Buy” at StockNews.com

Western Midstream Partners (NYSE:WES) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Saturday.

WES has been the subject of several other reports. US Capital Advisors raised shares of Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 26th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $41.00 price target on shares of Western Midstream Partners in a research report on Monday, December 9th. Finally, UBS Group cut their price objective on Western Midstream Partners from $40.00 to $37.00 and set a “neutral” rating for the company in a research report on Friday, November 15th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Western Midstream Partners currently has a consensus rating of “Hold” and an average price target of $38.43.

Western Midstream Partners Stock Up 2.8 %

WES opened at $38.94 on Friday. Western Midstream Partners has a twelve month low of $33.39 and a twelve month high of $43.33. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.11 and a current ratio of 1.11. The business has a 50 day moving average price of $40.46 and a 200 day moving average price of $39.23. The firm has a market cap of $14.85 billion, a P/E ratio of 9.93, a price-to-earnings-growth ratio of 1.40 and a beta of 2.88.

Hedge Funds Weigh In On Western Midstream Partners

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WES. Invesco Ltd. grew its holdings in shares of Western Midstream Partners by 6.6% during the fourth quarter. Invesco Ltd. now owns 22,809,161 shares of the pipeline company’s stock worth $876,556,000 after purchasing an additional 1,406,362 shares during the last quarter. Tortoise Capital Advisors L.L.C. boosted its stake in Western Midstream Partners by 2.0% in the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 8,064,089 shares of the pipeline company’s stock valued at $309,903,000 after acquiring an additional 159,016 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in 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 worth $279,509,000 after acquiring an additional 1,366,341 shares during the period. Chickasaw Capital Management LLC raised its position in shares of Western Midstream Partners by 1.5% during the 4th quarter. Chickasaw Capital Management LLC now owns 6,755,387 shares of the pipeline company’s stock valued at $259,610,000 after acquiring an additional 99,518 shares during the last quarter. Finally, Kayne Anderson Capital Advisors LP raised its position in shares of Western Midstream Partners by 23.5% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 6,228,448 shares of the pipeline company’s stock valued at $238,300,000 after acquiring an additional 1,184,597 shares during the last quarter. 84.82% of the stock is currently 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.