Zacks Research upgraded shares of Western Midstream Partners (NYSE:WES – Free Report) from a hold rating to a strong-buy rating in a report released on Thursday morning,Zacks.com reports.
A number of other equities analysts have also weighed in on the stock. Citigroup lifted their price target on shares of Western Midstream Partners from $42.00 to $45.00 and gave the company a “neutral” rating in a report on Tuesday. UBS Group upped their price objective on Western Midstream Partners from $45.00 to $48.00 and gave the stock a “neutral” rating in a report on Friday, July 10th. Wells Fargo & Company increased their target price on Western Midstream Partners from $43.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Monday. Morgan Stanley upgraded Western Midstream Partners from an “underweight” rating to an “equal weight” rating and set a $51.00 target price on the stock in a report on Wednesday, June 10th. Finally, US Capital Advisors upgraded Western Midstream Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, May 29th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Western Midstream Partners currently has an average rating of “Moderate Buy” and a consensus target price of $47.00.
View Our Latest Analysis on WES
Western Midstream Partners Trading Up 1.4%
Western Midstream Partners (NYSE:WES – Get Free Report) last released its earnings results on Wednesday, August 5th. The pipeline company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.08. Western Midstream Partners had a net margin of 29.44% and a return on equity of 33.13%. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the firm earned $0.87 earnings per share. Western Midstream Partners’s revenue was up 30.0% compared to the same quarter last year. As a group, equities analysts forecast that Western Midstream Partners will post 3.58 EPS for the current year.
Western Midstream Partners Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 7.6%. The ex-dividend date of this dividend was Friday, July 31st. Western Midstream Partners’s dividend payout ratio (DPR) is currently 116.98%.
Insider Buying and Selling at Western Midstream Partners
In other Western Midstream Partners news, Director Frederick A. Forthuber bought 5,140 shares of Western Midstream Partners stock in a transaction that occurred on Wednesday, August 12th. The shares were acquired at an average price of $48.62 per share, for a total transaction of $249,906.80. Following the acquisition, the director owned 5,140 shares of the company’s stock, valued at $249,906.80. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.04% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the stock. Compass Financial Management LLC acquired a new position in shares of Western Midstream Partners during the second quarter worth about $132,000. Bank of New York Mellon Corp purchased a new stake in shares of Western Midstream Partners in the second quarter worth about $586,000. Avidian Wealth Enterprises LLC purchased a new stake in shares of Western Midstream Partners in the second quarter worth about $479,000. D.A. Davidson & CO. grew its stake in shares of Western Midstream Partners by 2.6% in the second quarter. D.A. Davidson & CO. now owns 74,339 shares of the pipeline company’s stock valued at $3,253,000 after buying an additional 1,890 shares in the last quarter. Finally, Catalyst Capital Advisors LLC grew its stake in shares of Western Midstream Partners by 1.3% in the second quarter. Catalyst Capital Advisors LLC now owns 406,912 shares of the pipeline company’s stock valued at $17,806,000 after buying an additional 5,100 shares in the last quarter. 84.82% of the stock is owned by hedge funds and other institutional investors.
About Western Midstream Partners
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.
Read More
- Five stocks we like better than Western Midstream Partners
- MarketBeat Week in Review – 08/10 – 08/14
- Sony and TSMC’s $4.7 Billion Venture Is About More Than Camera Sensors
- Quantum Leaps: Debt-Free as AI Storage Demand Accelerates
- NVIDIA’s $500 Billion GPU Financing Deal Fuels Path Toward $270
Receive News & Ratings for Western Midstream Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Midstream Partners and related companies with MarketBeat.com's FREE daily email newsletter.
