Wells Fargo & Company Raises Western Midstream Partners (NYSE:WES) Price Target to $41.00

Western Midstream Partners (NYSE:WES) had its price target hoisted by analysts at Wells Fargo & Company from $39.00 to $41.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the pipeline company’s stock. Wells Fargo & Company‘s target price points to a potential upside of 0.67% from the stock’s current price.

Several other analysts have also recently weighed in on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Western Midstream Partners from $44.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday. Royal Bank Of Canada increased their target price on shares of Western Midstream Partners from $39.00 to $42.00 and gave the stock a “sector perform” rating in a research report on Friday, November 28th. Wall Street Zen lowered Western Midstream Partners from a “buy” rating to a “hold” rating in a research note on Saturday, December 27th. Finally, Stifel Nicolaus reduced their target price on Western Midstream Partners from $43.00 to $42.00 and set a “hold” rating on the stock in a report on Friday, February 20th. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $41.71.

Western Midstream Partners Stock Performance

NYSE WES traded up $0.06 on Friday, reaching $40.73. The stock had a trading volume of 508,325 shares, compared to its average volume of 1,450,094. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.34 and a quick ratio of 1.34. The company has a market cap of $16.03 billion, a P/E ratio of 13.57 and a beta of 0.76. The firm has a fifty day moving average of $41.35 and a two-hundred day moving average of $39.64. Western Midstream Partners has a 1-year low of $33.60 and a 1-year high of $44.74.

Western Midstream Partners (NYSE:WES) last posted its earnings results on Wednesday, February 18th. The pipeline company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.44). The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.06 billion. Western Midstream Partners had a return on equity of 33.14% and a net margin of 30.52%.The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.85 EPS. On average, equities research analysts anticipate that Western Midstream Partners will post 4.02 EPS for the current year.

Insider Buying and Selling at Western Midstream Partners

In other Western Midstream Partners news, SVP Christopher B. Dial sold 5,879 shares of the firm’s stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $42.35, for a total value of $248,975.65. Following the sale, the senior vice president owned 185,011 shares of the company’s stock, valued at approximately $7,835,215.85. This trade represents a 3.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert G. Phillips purchased 1,250 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The stock was acquired at an average price of $40.19 per share, for a total transaction of $50,237.50. Following the purchase, the director owned 5,296 shares in the company, valued at approximately $212,846.24. The trade was a 30.89% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.04% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Prospera Financial Services Inc lifted its holdings in shares of Western Midstream Partners by 25.6% in the second quarter. Prospera Financial Services Inc now owns 11,326 shares of the pipeline company’s stock worth $438,000 after acquiring an additional 2,306 shares during the last quarter. ProShare Advisors LLC grew its holdings in shares of Western Midstream Partners by 20.2% during the 2nd quarter. ProShare Advisors LLC now owns 15,602 shares of the pipeline company’s stock valued at $604,000 after purchasing an additional 2,625 shares during the last quarter. Allworth Financial LP acquired a new position in Western Midstream Partners during the 2nd quarter worth approximately $43,000. Geode Capital Management LLC lifted its stake in Western Midstream Partners by 6.4% in the 2nd quarter. Geode Capital Management LLC now owns 8,525 shares of the pipeline company’s stock valued at $330,000 after purchasing an additional 512 shares during the last quarter. Finally, Creative Planning lifted its stake in Western Midstream Partners by 17.0% in the 2nd quarter. Creative Planning now owns 6,878 shares of the pipeline company’s stock valued at $266,000 after purchasing an additional 999 shares during the last quarter. 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.