Western Midstream Partners (NYSE:WES) Shares Up 3.7% – Still a Buy?

Western Midstream Partners, LP (NYSE:WES)’s stock price was up 3.7% during mid-day trading on Monday . The stock traded as high as $40.68 and last traded at $40.35. Approximately 1,290,748 shares changed hands during trading, a decline of 8% from the average daily volume of 1,406,820 shares. The stock had previously closed at $38.92.

Analysts Set New Price Targets

A number of brokerages have recently commented on WES. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $41.00 price objective on shares of Western Midstream Partners in a research report on Monday, December 9th. StockNews.com raised Western Midstream Partners from a “hold” rating to a “buy” rating in a report on Saturday. US Capital Advisors raised Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 26th. Finally, UBS Group lowered their price target on shares of Western Midstream Partners from $40.00 to $37.00 and set a “neutral” rating on the stock in a report on Friday, November 15th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $38.43.

Western Midstream Partners Price Performance

The company’s 50 day moving average price is $40.53 and its 200 day moving average price is $39.28. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market cap of $15.38 billion, a price-to-earnings ratio of 10.29, a P/E/G ratio of 1.40 and a beta of 2.88.

Western Midstream Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were issued a $0.875 dividend. This represents a $3.50 annualized dividend and a dividend yield of 8.68%. The ex-dividend date of this dividend was Monday, February 3rd. Western Midstream Partners’s payout ratio is currently 86.85%.

Institutional Investors Weigh In On Western Midstream Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of WES. Cary Street Partners Financial LLC bought a new stake in shares of Western Midstream Partners during the fourth quarter worth $39,000. Harbour Investments Inc. increased its position in Western Midstream Partners by 555.6% in the 4th quarter. Harbour Investments Inc. now owns 1,180 shares of the pipeline company’s stock valued at $45,000 after acquiring an additional 1,000 shares in the last quarter. Global Retirement Partners LLC bought a new position in shares of Western Midstream Partners in the fourth quarter worth about $51,000. Empowered Funds LLC acquired a new position in shares of Western Midstream Partners during the fourth quarter worth approximately $53,000. Finally, Farther Finance Advisors LLC grew its stake in shares of Western Midstream Partners by 287.3% during the third quarter. Farther Finance Advisors LLC now owns 1,437 shares of the pipeline company’s stock valued at $55,000 after purchasing an additional 1,066 shares during the last quarter. 84.82% of the stock is owned by institutional investors and hedge funds.

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.