Wall Street Zen Upgrades Western Midstream Partners (NYSE:WES) to “Buy”

Western Midstream Partners (NYSE:WES) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Sunday.

Other research analysts have also issued research reports about the stock. Royal Bank Of Canada upped their price target on shares of Western Midstream Partners from $39.00 to $42.00 and gave the company a “sector perform” rating in a research note on Friday, November 28th. Stifel Nicolaus set a $43.00 price target on Western Midstream Partners in a report on Thursday, November 6th. Mizuho lifted their price target on shares of Western Midstream Partners from $44.00 to $46.00 and gave the company an “outperform” rating in a research report on Friday, August 29th. Citigroup initiated coverage on shares of Western Midstream Partners in a research report on Monday, October 20th. They issued a “neutral” rating and a $39.00 target price on the stock. Finally, Morgan Stanley dropped their price target on shares of Western Midstream Partners from $41.00 to $39.00 and set an “underweight” rating for the company in a research note on Tuesday, August 26th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $41.50.

Western Midstream Partners Price Performance

WES stock opened at $39.52 on Friday. Western Midstream Partners has a 52 week low of $33.60 and a 52 week high of $43.33. The firm has a market capitalization of $16.12 billion, a P/E ratio of 11.69 and a beta of 0.76. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 2.08. The company has a fifty day simple moving average of $38.67 and a two-hundred day simple moving average of $38.76.

Western Midstream Partners (NYSE:WES) last announced its quarterly earnings data on Tuesday, November 4th. The pipeline company reported $0.87 EPS for the quarter, meeting the consensus estimate of $0.87. Western Midstream Partners had a return on equity of 39.37% and a net margin of 35.18%.The company had revenue of $952.48 million for the quarter, compared to the consensus estimate of $965.55 million. During the same quarter in the prior year, the company posted $0.74 EPS. Western Midstream Partners’s quarterly revenue was up 7.8% on a year-over-year basis. Analysts anticipate that Western Midstream Partners will post 4.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Western Midstream Partners

Several institutional investors and hedge funds have recently modified their holdings of WES. Jones Financial Companies Lllp grew its stake in shares of Western Midstream Partners by 86.1% during the third quarter. Jones Financial Companies Lllp now owns 908 shares of the pipeline company’s stock valued at $36,000 after acquiring an additional 420 shares in the last quarter. MTM Investment Management LLC bought a new position in Western Midstream Partners in the second quarter worth about $39,000. Sound Income Strategies LLC acquired a new position in Western Midstream Partners during the 2nd quarter valued at approximately $39,000. Fulcrum Asset Management LLP bought a new stake in Western Midstream Partners in the 3rd quarter valued at about $41,000. Finally, Allworth Financial LP acquired a new position in Western Midstream Partners during the 2nd quarter worth $43,000. Hedge funds and other institutional investors own 84.82% of the company’s stock.

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.