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

Western Midstream Partners, LP (NYSE:WES) has been given a consensus recommendation of “Hold” by the seven research firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $41.7143.

Several research analysts recently weighed in on WES shares. JPMorgan Chase & Co. dropped their target price on shares of Western Midstream Partners from $44.00 to $43.00 and set a “neutral” rating for the company in a report on Thursday, March 12th. Wall Street Zen downgraded shares of Western Midstream Partners from a “buy” rating to a “hold” rating in a report on Saturday, December 27th. Wells Fargo & Company upped their target price on shares of Western Midstream Partners from $39.00 to $41.00 and gave the stock an “equal weight” rating in a report on Friday, March 13th. Finally, Stifel Nicolaus dropped their target price on shares of Western Midstream Partners from $43.00 to $42.00 and set a “hold” rating for the company in a report on Friday, February 20th.

Western Midstream Partners Trading Down 0.8%

Shares of Western Midstream Partners stock opened at $40.36 on Friday. The company has a market capitalization of $15.89 billion, a P/E ratio of 13.45 and a beta of 0.73. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.34 and a current ratio of 1.34. The company has a fifty day moving average of $41.54 and a 200 day moving average of $40.11. Western Midstream Partners has a fifty-two week low of $35.25 and a fifty-two week high of $44.74.

Western Midstream Partners (NYSE:WES) last issued its earnings results on Wednesday, February 18th. The pipeline company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.44). The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.06 billion. Western Midstream Partners had a return on equity of 33.14% and a net margin of 30.52%.The company’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.85 EPS. On average, sell-side analysts anticipate that Western Midstream Partners will post 4.02 earnings per share for the current fiscal year.

Western Midstream Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Monday, February 2nd were issued a $0.91 dividend. The ex-dividend date of this dividend was Monday, February 2nd. This represents a $3.64 annualized dividend and a yield of 9.0%. Western Midstream Partners’s dividend payout ratio is currently 121.33%.

Insider Buying and Selling at Western Midstream Partners

In related news, SVP Christopher B. Dial sold 5,879 shares of the company’s stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $42.35, for a total value of $248,975.65. Following the completion of the transaction, the senior vice president owned 185,011 shares of the company’s stock, valued at approximately $7,835,215.85. This represents a 3.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robert G. Phillips purchased 1,250 shares of the firm’s stock in a transaction on Wednesday, March 11th. The stock was bought at an average price of $40.19 per share, for a total transaction of $50,237.50. Following the purchase, the director owned 5,296 shares in the company, valued at approximately $212,846.24. This represents a 30.89% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.04% of the company’s stock.

Institutional Trading of Western Midstream Partners

Several hedge funds have recently bought and sold shares of the stock. Virtu Financial LLC lifted its stake in Western Midstream Partners by 25.0% in the 4th quarter. Virtu Financial LLC now owns 35,571 shares of the pipeline company’s stock worth $1,405,000 after purchasing an additional 7,104 shares in the last quarter. Ameriflex Group Inc. purchased a new stake in Western Midstream Partners in the 4th quarter worth $156,000. Beacon Pointe Advisors LLC lifted its stake in Western Midstream Partners by 3.6% in the 4th quarter. Beacon Pointe Advisors LLC now owns 36,140 shares of the pipeline company’s stock worth $1,428,000 after purchasing an additional 1,240 shares in the last quarter. NewEdge Advisors LLC lifted its stake in Western Midstream Partners by 6.1% in the 4th quarter. NewEdge Advisors LLC now owns 58,973 shares of the pipeline company’s stock worth $2,329,000 after purchasing an additional 3,415 shares in the last quarter. Finally, Empowered Funds LLC lifted its stake in Western Midstream Partners by 24.1% in the 4th quarter. Empowered Funds LLC now owns 236,768 shares of the pipeline company’s stock worth $9,352,000 after purchasing an additional 45,930 shares in the last quarter. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Western Midstream Partners Company Profile

Western Midstream Partners, LP (NYSE: WES) is a midstream energy infrastructure company that owns, operates and develops an integrated network of crude oil, natural gas and produced water gathering, processing, transportation and storage assets in the United States. The partnership’s primary offerings include pipeline transportation, fractionation services, natural gas liquids (NGL) logistics and produced water handling. Through its fee-based and commodity-based contracts, Western Midstream provides its customers with essential services that support efficient energy production and distribution.

The company’s asset portfolio spans key onshore basins, including the Delaware Basin in West Texas and southeastern New Mexico, the San Juan Basin in New Mexico and Colorado, and the Denver-Julesburg Basin in Colorado.