Western Midstream Partners (NYSE:WES) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Western Midstream Partners, LP (NYSE:WES)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $43.88 and traded as high as $48.30. Western Midstream Partners shares last traded at $48.26, with a volume of 426,997 shares.

Wall Street Analyst Weigh In

WES has been the subject of several recent analyst reports. Wells Fargo & Company raised 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, August 10th. Mizuho lifted their target price on Western Midstream Partners from $48.00 to $51.00 and gave the company an “outperform” rating in a research note on Tuesday, July 14th. JPMorgan Chase & Co. upped their target price on Western Midstream Partners from $46.00 to $47.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. Wall Street Zen lowered shares of Western Midstream Partners from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Royal Bank Of Canada raised their price target on shares of Western Midstream Partners from $41.00 to $47.00 and gave the stock a “sector perform” rating in a report on Monday, August 24th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $48.12.

Western Midstream Partners Stock Up 0.9%

The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 2.02. The business’s fifty day moving average price is $46.34 and its two-hundred day moving average price is $43.88. The firm has a market cap of $19.94 billion, a P/E ratio of 15.18, a P/E/G ratio of 1.43 and a beta of 0.68.

Western Midstream Partners (NYSE:WES) last issued its quarterly earnings data on Wednesday, August 5th. The pipeline company reported $0.99 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $1.13 billion. During the same period in the prior year, the company posted $0.87 earnings per share. Western Midstream Partners’s revenue for the quarter was up 30.0% on a year-over-year basis. As a group, equities research analysts anticipate that Western Midstream Partners, LP will post 3.64 EPS for the current year.

Western Midstream Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were issued a dividend of $0.93 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a $3.72 dividend on an annualized basis and a dividend yield of 7.7%. Western Midstream Partners’s dividend payout ratio is currently 116.98%.

Insider Buying and Selling at Western Midstream Partners

In related news, Director Frederick A. Forthuber bought 5,140 shares of Western Midstream Partners stock in a transaction that occurred on Wednesday, August 12th. The stock was purchased at an average cost of $48.62 per share, for a total transaction of $249,906.80. Following the acquisition, the director owned 5,140 shares in the company, valued at $249,906.80. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.04% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. HighTower Advisors LLC boosted its holdings in Western Midstream Partners by 14.2% during the second quarter. HighTower Advisors LLC now owns 98,294 shares of the pipeline company’s stock valued at $4,301,000 after acquiring an additional 12,252 shares during the period. Compass Financial Management LLC acquired a new stake in Western Midstream Partners during the second quarter worth about $132,000. Concurrent Investment Advisors LLC grew its position in Western Midstream Partners by 9.8% during the second quarter. Concurrent Investment Advisors LLC now owns 19,118 shares of the pipeline company’s stock worth $837,000 after buying an additional 1,710 shares in the last quarter. Continuum Advisory LLC bought a new position in Western Midstream Partners during the second quarter valued at about $41,000. Finally, Toth Financial Advisory Corp increased its stake in Western Midstream Partners by 209.4% during the second quarter. Toth Financial Advisory Corp now owns 1,835 shares of the pipeline company’s stock valued at $80,000 after acquiring an additional 1,242 shares during the period. Institutional investors own 84.82% of the company’s stock.

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.