Western Midstream Partners (NYSE:WES) Reaches New 52-Week High at $39.97

Shares of Western Midstream Partners, LP (NYSE:WES) reached a new 52-week high during trading on Monday . The stock traded as high as $39.97 and last traded at $39.97, with a volume of 390 shares trading hands. The stock had previously closed at $39.73.

Wall Street Analyst Weigh In

Several research firms recently commented on WES. StockNews.com downgraded shares of Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 26th. Mizuho increased their price objective on shares of Western Midstream Partners from $34.00 to $39.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Raymond James reiterated a “market perform” rating on shares of Western Midstream Partners in a research note on Tuesday, March 19th. Wells Fargo & Company increased their price objective on shares of Western Midstream Partners from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 21st. Finally, Wolfe Research upgraded shares of Western Midstream Partners from an “underperform” rating to a “peer perform” rating in a research note on Thursday, April 18th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $31.55.

Western Midstream Partners Stock Up 1.3 %

The firm’s 50 day moving average price is $37.30 and its two-hundred day moving average price is $33.43. The company has a market cap of $15.32 billion, a P/E ratio of 11.19, a price-to-earnings-growth ratio of 0.71 and a beta of 2.90. The company has a debt-to-equity ratio of 2.15, a quick ratio of 1.51 and a current ratio of 1.51.

Western Midstream Partners (NYSE:WES) last released its quarterly earnings data on Wednesday, May 8th. The pipeline company reported $1.47 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.62. Western Midstream Partners had a net margin of 42.50% and a return on equity of 44.76%. The company had revenue of $887.73 million during the quarter, compared to analyst estimates of $868.22 million. During the same quarter in the previous year, the business posted $0.52 EPS. Western Midstream Partners’s revenue for the quarter was up 20.9% compared to the same quarter last year. Equities research analysts anticipate that Western Midstream Partners, LP will post 4.1 EPS for the current fiscal year.

Western Midstream Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were issued a dividend of $0.875 per share. This represents a $3.50 dividend on an annualized basis and a yield of 8.69%. This is an increase from Western Midstream Partners’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Tuesday, April 30th. Western Midstream Partners’s payout ratio is currently 98.59%.

Hedge Funds Weigh In On Western Midstream Partners

Hedge funds have recently bought and sold shares of the company. Eagle Bay Advisors LLC purchased a new position in Western Midstream Partners during the 1st quarter worth $29,000. American National Bank boosted its holdings 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 worth $42,000 after acquiring an additional 305 shares during the last quarter. Fortitude Family Office LLC purchased a new position in Western Midstream Partners during the 4th quarter worth $43,000. 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. Finally, Mather Group LLC. purchased a new position in Western Midstream Partners during the 1st quarter worth $82,000. 42.94% of the stock is owned by hedge funds and other institutional investors.

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.