Western Midstream Partners (NYSE:WES) Upgraded at StockNews.com

StockNews.com upgraded shares of Western Midstream Partners (NYSE:WES) from a buy rating to a strong-buy rating in a research report report published on Sunday.

A number of other research analysts have also recently issued reports on WES. Bank of America assumed coverage on shares of Western Midstream Partners in a report on Thursday, October 17th. They set an “underperform” rating and a $37.00 price objective for the company. Royal Bank of Canada boosted their price objective on Western Midstream Partners from $38.00 to $41.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 16th. UBS Group increased their price objective on Western Midstream Partners from $38.00 to $39.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 18th. Morgan Stanley cut Western Midstream Partners from an “overweight” rating to an “equal weight” rating and set a $42.00 price objective on the stock. in a research note on Monday, September 16th. Finally, Stifel Nicolaus raised their price target 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. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $38.38.

Western Midstream Partners Stock Up 0.1 %

Shares of NYSE WES opened at $38.34 on Friday. The company has a market cap of $14.59 billion, a price-to-earnings ratio of 10.80, a PEG ratio of 0.73 and a beta of 2.87. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.08. The stock has a 50-day moving average price of $38.64 and a two-hundred day moving average price of $38.31. Western Midstream Partners has a 12 month low of $26.49 and a 12 month high of $42.80.

Western Midstream Partners (NYSE:WES) last issued its quarterly earnings results on Wednesday, August 7th. The pipeline company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.09. Western Midstream Partners had a net margin of 44.01% and a return on equity of 47.19%. The firm had revenue of $905.63 million for the quarter, compared to the consensus estimate of $904.94 million. During the same quarter in the previous year, the company earned $0.64 EPS. The company’s revenue for the quarter was up 22.7% on a year-over-year basis. As a group, analysts forecast that Western Midstream Partners will post 4.13 earnings per share for the current fiscal year.

Western Midstream Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Friday, November 1st will be given a dividend of $0.875 per share. This represents a $3.50 annualized dividend and a dividend yield of 9.13%. The ex-dividend date of this dividend is Friday, November 1st. Western Midstream Partners’s dividend payout ratio (DPR) is currently 98.59%.

Insiders Place Their Bets

In other Western Midstream Partners news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the transaction, the insider now directly owns 165,681,578 shares in the company, valued at $5,923,116,413.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.04% of the company’s stock.

Institutional Investors Weigh In On Western Midstream Partners

Hedge funds and other institutional investors have recently bought and sold shares of the business. Eagle Bay Advisors LLC purchased a new stake in Western Midstream Partners during the 1st quarter valued at approximately $29,000. Retirement Group LLC lifted its position in shares of Western Midstream Partners by 40.2% during the first quarter. Retirement Group LLC now owns 1,591 shares of the pipeline company’s stock valued at $57,000 after buying an additional 456 shares during the last quarter. EverSource Wealth Advisors LLC purchased a new stake in shares of Western Midstream Partners during the 2nd quarter valued at $74,000. Triad Wealth Partners LLC acquired a new stake in shares of Western Midstream Partners in the 2nd quarter worth $78,000. Finally, Cedar Mountain Advisors LLC increased its position 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 buying an additional 299 shares in the last quarter. Hedge funds and other institutional investors own 42.94% of the company’s stock.

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.