Western Midstream Partners, LP (NYSE:WES) Given Average Rating of “Reduce” by Brokerages

Western Midstream Partners, LP (NYSE:WES) has received a consensus recommendation of “Reduce” from the ten analysts that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $37.88.

A number of analysts recently issued reports on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $41.00 price objective on shares of Western Midstream Partners in a report on Monday, December 9th. Bank of America started coverage on shares of Western Midstream Partners in a research note on Thursday, October 17th. They set an “underperform” rating and a $37.00 price target for the company. 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. US Capital Advisors raised Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 26th. Finally, Morgan Stanley downgraded Western Midstream Partners from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $42.00 to $40.00 in a research report on Friday, October 25th.

Institutional Investors Weigh In On Western Midstream Partners

Institutional investors have recently made changes to their positions in the stock. Cedar Mountain Advisors LLC boosted its holdings in Western Midstream Partners by 16.1% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 2,158 shares of the pipeline company’s stock valued at $83,000 after purchasing an additional 299 shares during the period. Bleakley Financial Group LLC increased its holdings in shares of Western Midstream Partners by 5.8% in the third quarter. Bleakley Financial Group LLC now owns 5,711 shares of the pipeline company’s stock worth $218,000 after purchasing an additional 311 shares during the period. Concurrent Investment Advisors LLC raised its position in shares of Western Midstream Partners by 6.2% in the third quarter. Concurrent Investment Advisors LLC now owns 6,053 shares of the pipeline company’s stock worth $232,000 after buying an additional 352 shares in the last quarter. Truist Financial Corp raised its position in shares of Western Midstream Partners by 1.9% in the second quarter. Truist Financial Corp now owns 22,508 shares of the pipeline company’s stock worth $894,000 after buying an additional 421 shares in the last quarter. Finally, Albert D Mason Inc. boosted its stake in Western Midstream Partners by 1.0% during the third quarter. Albert D Mason Inc. now owns 49,261 shares of the pipeline company’s stock valued at $1,885,000 after buying an additional 501 shares during the period. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Western Midstream Partners Stock Performance

Shares of WES opened at $41.18 on Thursday. The stock has a 50 day moving average of $38.96 and a 200 day moving average of $39.09. The company has a market capitalization of $15.67 billion, a price-to-earnings ratio of 10.51, a PEG ratio of 1.08 and a beta of 2.90. Western Midstream Partners has a 12 month low of $27.49 and a 12 month high of $42.80. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.05.

Western Midstream Partners (NYSE:WES) last announced its earnings results on Wednesday, November 6th. The pipeline company reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.09). The business had revenue of $883.36 million for the quarter, compared to analysts’ expectations of $924.83 million. Western Midstream Partners had a net margin of 42.99% and a return on equity of 46.02%. The company’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.70 earnings per share. As a group, sell-side analysts forecast that Western Midstream Partners will post 4.03 earnings per share for the current year.

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.