Western Midstream Partners (NYSE:WES) Stock Rating Lowered by StockNews.com

Western Midstream Partners (NYSE:WES) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Saturday.

WES has been the topic of a number of other reports. Stifel Nicolaus boosted their price objective on shares of Western Midstream Partners from $39.00 to $40.00 and gave the company a “hold” rating in a research report on Friday, August 9th. UBS Group upped their target price on Western Midstream Partners from $38.00 to $39.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 18th. Royal Bank of Canada lifted their price target on Western Midstream Partners from $36.00 to $38.00 and gave the company a “sector perform” rating in a report on Tuesday, August 27th. Finally, Morgan Stanley downgraded Western Midstream Partners from an “overweight” rating to an “equal weight” rating and set a $42.00 price objective on the stock. in a report on Monday, September 16th. One 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, the stock currently has a consensus rating of “Hold” and a consensus price target of $36.75.

Western Midstream Partners Trading Up 0.9 %

Western Midstream Partners stock opened at $39.79 on Friday. The company has a 50 day moving average price of $38.58 and a 200 day moving average price of $38.16. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.68 and a current ratio of 1.68. Western Midstream Partners has a 52 week low of $26.49 and a 52 week high of $42.80. The firm has a market capitalization of $15.14 billion, a price-to-earnings ratio of 11.21, a P/E/G ratio of 0.74 and a beta of 2.87.

Western Midstream Partners (NYSE:WES) last posted its quarterly earnings results on Wednesday, August 7th. The pipeline company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.09. Western Midstream Partners had a return on equity of 47.19% and a net margin of 44.01%. The firm had revenue of $905.63 million for the quarter, compared to analyst estimates of $904.94 million. During the same period in the previous year, the firm earned $0.64 earnings per share. Western Midstream Partners’s quarterly revenue was up 22.7% on a year-over-year basis. Research analysts forecast that Western Midstream Partners will post 4.16 EPS for the current year.

Insider Transactions at Western Midstream Partners

In other Western Midstream Partners news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now owns 165,681,578 shares of the company’s stock, valued at $5,923,116,413.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.04% of the stock is currently owned by corporate insiders.

Institutional Trading of Western Midstream Partners

Hedge funds have recently bought and sold shares of the stock. Eagle Bay Advisors LLC bought a new stake in shares of Western Midstream Partners in the first quarter valued at about $29,000. American National Bank lifted its position in shares of Western Midstream Partners by 34.5% in 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 period. Retirement Group LLC grew its holdings in shares of 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 purchasing an additional 456 shares in the last quarter. EverSource Wealth Advisors LLC bought a new stake in shares of Western Midstream Partners during the second quarter valued at approximately $74,000. Finally, Triad Wealth Partners LLC acquired a new position in shares of Western Midstream Partners in the second quarter valued at $78,000. 42.94% of the stock is owned by institutional investors.

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.