Western Midstream Partners (NYSE:WES) PT Raised to $41.00

Western Midstream Partners (NYSE:WES) had its price objective raised by research analysts at Royal Bank of Canada from $38.00 to $41.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “sector perform” rating on the pipeline company’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 3.93% from the company’s previous close.

A number of other equities research analysts have also weighed in on the stock. Stifel Nicolaus boosted their target price on shares of Western Midstream Partners from $39.00 to $40.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Morgan Stanley cut Western Midstream Partners from an “overweight” rating to an “equal weight” rating and set a $42.00 target price on the stock. in a report on Monday, September 16th. UBS Group boosted their price target on shares of Western Midstream Partners from $38.00 to $39.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 18th. Finally, StockNews.com cut shares of Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a research report on Saturday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $37.13.

Western Midstream Partners Price Performance

NYSE:WES traded up $0.65 on Wednesday, hitting $39.45. The company had a trading volume of 323,649 shares, compared to its average volume of 1,212,151. The firm has a 50 day moving average of $38.62 and a two-hundred day moving average of $38.19. The stock has a market capitalization of $15.01 billion, a price-to-earnings ratio of 10.15, a PEG ratio of 0.75 and a beta of 2.87. Western Midstream Partners has a 52 week low of $26.49 and a 52 week high of $42.80. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.08.

Western Midstream Partners (NYSE:WES) last announced its quarterly earnings results on Wednesday, August 7th. The pipeline company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.09. The company had revenue of $905.63 million during the quarter, compared to analysts’ expectations of $904.94 million. Western Midstream Partners had a return on equity of 47.19% and a net margin of 44.01%. Western Midstream Partners’s revenue was up 22.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.64 EPS. On average, research analysts anticipate that Western Midstream Partners will post 4.15 earnings per share for the current year.

Insider Transactions at Western Midstream Partners

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total value of $697,125,000.00. Following the completion of the sale, the insider now directly owns 165,681,578 shares of the company’s stock, valued at $5,923,116,413.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.04% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of WES. Eagle Bay Advisors LLC acquired a new stake in shares of Western Midstream Partners in the 1st quarter worth about $29,000. American National Bank lifted its stake in Western Midstream Partners by 34.5% during the 1st quarter. American National Bank now owns 1,190 shares of the pipeline company’s stock valued at $42,000 after acquiring an additional 305 shares in the last quarter. Retirement Group LLC boosted its holdings in 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 acquiring an additional 456 shares during the last quarter. EverSource Wealth Advisors LLC purchased a new position in Western Midstream Partners during the 2nd quarter worth $74,000. Finally, Triad Wealth Partners LLC purchased a new stake in shares of 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.

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.