Analysts Set Western Midstream Partners, LP (NYSE:WES) PT at $37.88

Shares of Western Midstream Partners, LP (NYSE:WES) have been given a consensus rating of “Reduce” by the ten analysts that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $37.88.

A number of analysts have weighed in on the stock. US Capital Advisors raised shares of Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 26th. Royal Bank of Canada reissued a “sector perform” rating and set a $41.00 target price on shares of Western Midstream Partners in a research report on Monday, December 9th. StockNews.com downgraded shares of Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 28th. Bank of America started coverage on shares of Western Midstream Partners in a research report on Thursday, October 17th. They set an “underperform” rating and a $37.00 target price for the company. Finally, Morgan Stanley cut Western Midstream Partners from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $42.00 to $40.00 in a report on Friday, October 25th.

Hedge Funds Weigh In On Western Midstream Partners

Several large investors have recently bought and sold shares of the stock. Cedar Mountain Advisors LLC lifted its stake in Western Midstream Partners by 16.1% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 2,158 shares of the pipeline company’s stock valued at $83,000 after acquiring an additional 299 shares in the last quarter. Bleakley Financial Group LLC increased its position in shares of Western Midstream Partners by 5.8% during the 3rd quarter. Bleakley Financial Group LLC now owns 5,711 shares of the pipeline company’s stock valued at $218,000 after purchasing an additional 311 shares during the last quarter. Concurrent Investment Advisors LLC increased its position in shares of Western Midstream Partners by 6.2% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 6,053 shares of the pipeline company’s stock valued at $232,000 after purchasing an additional 352 shares during the last quarter. Truist Financial Corp increased its position in shares of Western Midstream Partners by 1.9% during the 2nd quarter. Truist Financial Corp now owns 22,508 shares of the pipeline company’s stock valued at $894,000 after purchasing an additional 421 shares during the last quarter. Finally, Albert D Mason Inc. increased its position in shares of Western Midstream Partners by 1.0% during the 3rd quarter. Albert D Mason Inc. now owns 49,261 shares of the pipeline company’s stock valued at $1,885,000 after purchasing an additional 501 shares during the last quarter. 84.82% of the stock is currently owned by institutional investors.

Western Midstream Partners Trading Down 1.8 %

WES opened at $42.13 on Thursday. Western Midstream Partners has a twelve month low of $27.84 and a twelve month high of $43.33. The company has a 50-day simple moving average of $39.49 and a 200 day simple moving average of $39.12. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.05. The stock has a market capitalization of $16.03 billion, a price-to-earnings ratio of 10.75, a P/E/G ratio of 1.39 and a beta of 2.90.

Western Midstream Partners (NYSE:WES) last posted its earnings results on Wednesday, November 6th. The pipeline company reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.09). Western Midstream Partners had a return on equity of 46.02% and a net margin of 42.99%. The company had revenue of $883.36 million during the quarter, compared to the consensus estimate of $924.83 million. During the same period last year, the company posted $0.70 EPS. The firm’s revenue was up 13.8% compared to the same quarter last year. Analysts predict that Western Midstream Partners will post 4.03 EPS for the current fiscal year.

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.