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

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

Several other equities analysts have also recently weighed in on the company. Wells Fargo & Company raised their price objective on Western Midstream Partners from $34.00 to $35.00 and gave the company an “equal weight” rating in a report on Tuesday, May 21st. Stifel Nicolaus lowered Western Midstream Partners from a “buy” rating to a “hold” rating and set a $39.00 price target on the stock. in a research report on Wednesday, July 10th. Wolfe Research raised Western Midstream Partners from an “underperform” rating to a “peer perform” rating in a report on Thursday, April 18th. Finally, Mizuho raised their target price on shares of Western Midstream Partners from $34.00 to $39.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $32.56.

Western Midstream Partners Stock Down 2.0 %

NYSE WES traded down $0.82 during trading hours on Thursday, reaching $39.99. 800,806 shares of the company’s stock were exchanged, compared to its average volume of 1,184,045. The company has a debt-to-equity ratio of 2.15, a quick ratio of 1.51 and a current ratio of 1.51. The company has a market capitalization of $15.22 billion, a price-to-earnings ratio of 11.26, a price-to-earnings-growth ratio of 0.75 and a beta of 2.90. The company’s 50-day moving average is $39.27 and its two-hundred day moving average is $35.04. Western Midstream Partners has a one year low of $25.69 and a one year high of $42.80.

Western Midstream Partners (NYSE:WES) last released its earnings results on Wednesday, May 8th. The pipeline company reported $1.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.62. The firm had revenue of $887.73 million during the quarter, compared to analysts’ expectations of $868.22 million. Western Midstream Partners had a return on equity of 44.76% and a net margin of 42.50%. The company’s revenue was up 20.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.52 EPS. On average, analysts forecast that Western Midstream Partners will post 4.11 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Eagle Bay Advisors LLC acquired a new position in Western Midstream Partners during the first quarter valued at approximately $29,000. American National Bank raised its holdings in shares of 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 buying an additional 305 shares in the last quarter. Retirement Group LLC raised its holdings 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 worth $57,000 after buying an additional 456 shares in the last quarter. UMB Bank n.a. bought a new stake in shares of Western Midstream Partners during the 4th quarter worth $74,000. Finally, Triad Wealth Partners LLC acquired a new stake in Western Midstream Partners in the second quarter valued at about $78,000. Institutional investors and hedge funds own 42.94% of the company’s stock.

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.