Western Midstream Partners (NYSE:WES) PT Raised to $40.00 at Stifel Nicolaus

Western Midstream Partners (NYSE:WES) had its price objective increased by analysts at Stifel Nicolaus from $39.00 to $40.00 in a report released on Friday, Benzinga reports. The firm presently has a “hold” rating on the pipeline company’s stock. Stifel Nicolaus’ price objective points to a potential upside of 1.06% from the company’s previous close.

WES has been the subject of several other research reports. Mizuho increased their price target on Western Midstream Partners from $34.00 to $39.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. StockNews.com cut shares of Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a report on Friday, August 2nd. Wolfe Research upgraded Western Midstream Partners from an “underperform” rating to a “peer perform” rating in a report on Thursday, April 18th. Finally, Wells Fargo & Company upped their target price on Western Midstream Partners from $34.00 to $35.00 and gave the company an “equal weight” rating in a report on Tuesday, May 21st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $33.13.

Western Midstream Partners Stock Up 0.2 %

Shares of WES stock traded up $0.07 during trading hours on Friday, reaching $39.58. The company had a trading volume of 1,640,374 shares, compared to its average volume of 1,207,734. 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 has a twelve month low of $25.69 and a twelve month high of $42.80. The stock’s fifty day simple moving average is $39.75 and its 200 day simple moving average is $35.99. The company has a market capitalization of $15.06 billion, a P/E ratio of 11.15, a price-to-earnings-growth ratio of 0.84 and a beta of 2.90.

Western Midstream Partners (NYSE:WES) last issued its earnings results on Wednesday, August 7th. The pipeline company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.88 by $0.09. The company had revenue of $905.63 million during the quarter, compared to analyst estimates of $904.94 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 22.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.64 EPS. As a group, sell-side analysts expect that Western Midstream Partners will post 4.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Western Midstream Partners

A number of institutional investors have recently added to or reduced their stakes in the company. Raymond James & Associates raised its holdings in Western Midstream Partners by 5.7% during the 4th quarter. Raymond James & Associates now owns 103,811 shares of the pipeline company’s stock valued at $3,038,000 after acquiring an additional 5,596 shares during the period. Wealth Alliance boosted its stake in Western Midstream Partners by 3.7% in the 4th quarter. Wealth Alliance now owns 12,848 shares of the pipeline company’s stock worth $376,000 after purchasing an additional 458 shares during the period. GraniteShares Advisors LLC purchased a new position in Western Midstream Partners during the 4th quarter valued at about $1,521,000. NBW Capital LLC increased its position in shares of Western Midstream Partners by 25.0% during the fourth quarter. NBW Capital LLC now owns 322,010 shares of the pipeline company’s stock valued at $9,422,000 after buying an additional 64,370 shares during the period. Finally, Lindbrook Capital LLC lifted its holdings in shares of Western Midstream Partners by 15.8% in the fourth quarter. Lindbrook Capital LLC now owns 37,850 shares of the pipeline company’s stock worth $1,107,000 after buying an additional 5,159 shares in the last quarter. 42.94% of the stock is owned by institutional investors.

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.