Western Midstream Partners (WES) PT Lowered to $42.00 at Mitsubishi UFJ Financial Group

Western Midstream Partners (NYSE:WES) had its target price lowered by equities researchers at Mitsubishi UFJ Financial Group from $55.00 to $42.00 in a research note issued on Monday, The Fly reports. The brokerage presently has an “overweight” rating on the pipeline company’s stock. Mitsubishi UFJ Financial Group’s price target would indicate a potential upside of 20.65% from the company’s current price.

A number of other brokerages also recently weighed in on WES. ValuEngine raised shares of Western Midstream Partners from a “hold” rating to a “buy” rating in a report on Tuesday, February 19th. Zacks Investment Research raised shares of Western Midstream Partners from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a report on Wednesday, February 20th. Wells Fargo & Co reaffirmed a “hold” rating on shares of Western Midstream Partners in a report on Tuesday, February 19th. M Partners upped their price target on shares of Western Midstream Partners from $42.00 to $55.00 and gave the stock a “neutral” rating in a report on Friday, February 15th. Finally, Stifel Nicolaus downgraded shares of Western Midstream Partners from a “buy” rating to a “hold” rating and dropped their price objective for the company from $56.00 to $45.00 in a research note on Friday, December 21st. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $46.73.

Shares of NYSE:WES traded down $0.12 on Monday, reaching $34.81. 1,100,557 shares of the company’s stock were exchanged, compared to its average volume of 897,458. Western Midstream Partners has a twelve month low of $25.89 and a twelve month high of $38.62. The firm has a market cap of $7.56 billion, a PE ratio of 13.87 and a beta of 1.54. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 1.37.

Western Midstream Partners (NYSE:WES) last issued its quarterly earnings results on Thursday, February 14th. The pipeline company reported $0.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.65). Western Midstream Partners had a return on equity of 11.72% and a net margin of 19.06%. The firm had revenue of $557.79 million for the quarter, compared to the consensus estimate of $521.78 million. During the same period last year, the company posted $0.39 EPS. The business’s revenue was down 11.7% on a year-over-year basis. On average, research analysts expect that Western Midstream Partners will post 2.27 EPS for the current year.

A number of large investors have recently modified their holdings of WES. Chickasaw Capital Management LLC lifted its stake in Western Midstream Partners by 236.4% in the 1st quarter. Chickasaw Capital Management LLC now owns 9,307,744 shares of the pipeline company’s stock valued at $291,891,000 after purchasing an additional 6,540,816 shares during the last quarter. Tortoise Capital Advisors L.L.C. raised its stake in shares of Western Midstream Partners by 8.9% during the third quarter. Tortoise Capital Advisors L.L.C. now owns 16,295,738 shares of the pipeline company’s stock valued at $711,798,000 after acquiring an additional 1,333,515 shares during the last quarter. Alps Advisors Inc. raised its stake in shares of Western Midstream Partners by 12.6% during the fourth quarter. Alps Advisors Inc. now owns 9,954,452 shares of the pipeline company’s stock valued at $420,377,000 after acquiring an additional 1,115,194 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Western Midstream Partners by 40.8% during the third quarter. JPMorgan Chase & Co. now owns 3,509,650 shares of the pipeline company’s stock valued at $153,302,000 after acquiring an additional 1,017,349 shares during the last quarter. Finally, Eagle Global Advisors LLC bought a new position in shares of Western Midstream Partners during the fourth quarter valued at $39,401,000. 42.58% of the stock is owned by institutional investors and hedge funds.

About Western Midstream Partners

Western Gas Equity Partners, LP, together with its subsidiaries, engages in the gathering, processing, compressing, treating, stabilizing, and transporting natural gas, condensate, natural gas liquids, and crude oil primarily in the United States. It is also involved in the gathering and disposing of produced water; and buying and selling of natural gas.

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