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

StockNews.com downgraded shares of Western Midstream Partners (NYSE:WESFree Report) from a strong-buy rating to a buy rating in a research note published on Monday morning.

A number of other analysts have also weighed in on WES. Wells Fargo & Company raised their target price on Western Midstream Partners from $34.00 to $35.00 and gave the company an equal weight rating in a research note on Tuesday, May 21st. Raymond James restated a market perform rating on shares of Western Midstream Partners in a research note on Tuesday, March 19th. Mizuho raised their target price on Western Midstream Partners from $34.00 to $39.00 and gave the company a buy rating in a research note on Tuesday, May 7th. Stifel Nicolaus raised their target price on Western Midstream Partners from $35.00 to $36.00 and gave the company a buy rating in a research note on Friday, February 23rd. Finally, Citigroup lowered Western Midstream Partners from a buy rating to a neutral rating and raised their target price for the company from $30.00 to $34.00 in a research note on Thursday, February 29th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Hold and an average target price of $31.55.

Read Our Latest Report on Western Midstream Partners

Western Midstream Partners Stock Down 0.2 %

Shares of NYSE WES opened at $38.35 on Monday. The stock has a market cap of $14.59 billion, a PE ratio of 10.80, a PEG ratio of 0.74 and a beta of 2.85. The business has a fifty day moving average of $36.49 and a two-hundred day moving average of $32.60. Western Midstream Partners has a 52-week low of $25.47 and a 52-week high of $39.70. 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:WESGet Free Report) last issued its quarterly earnings data on Wednesday, May 8th. The pipeline company reported $1.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.62. The company had revenue of $887.73 million during the quarter, compared to analysts’ expectations of $868.22 million. Western Midstream Partners had a return on equity of 44.76% and a net margin of 42.50%. The business’s revenue was up 20.9% on a year-over-year basis. During the same period last year, the business earned $0.52 earnings per share. As a group, equities research analysts expect that Western Midstream Partners will post 3.93 earnings per share 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 is a boost from Western Midstream Partners’s previous quarterly dividend of $0.58. This represents a $3.50 annualized dividend and a yield of 9.13%. The ex-dividend date of this dividend was Tuesday, April 30th. Western Midstream Partners’s payout ratio is currently 98.59%.

Institutional Trading of Western Midstream Partners

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Eagle Bay Advisors LLC acquired a new position in shares of Western Midstream Partners in the 1st quarter valued at approximately $29,000. American National Bank grew 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 valued at $42,000 after purchasing an additional 305 shares during the period. Fortitude Family Office LLC acquired a new position in shares of Western Midstream Partners in the 4th quarter valued at approximately $43,000. Retirement Group LLC grew its position in shares of Western Midstream Partners by 40.2% in the 1st quarter. Retirement Group LLC now owns 1,591 shares of the pipeline company’s stock valued at $57,000 after purchasing an additional 456 shares during the period. Finally, Mather Group LLC. acquired a new position in shares of Western Midstream Partners in the 1st quarter valued at approximately $82,000. 42.94% of the stock is owned by institutional investors.

Western Midstream Partners Company Profile

(Get Free Report)

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.

See Also

Analyst Recommendations for Western Midstream Partners (NYSE:WES)

Receive News & Ratings for Western Midstream Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Midstream Partners and related companies with MarketBeat.com's FREE daily email newsletter.