Western Midstream Partners (NYSE:WES) Upgraded by US Capital Advisors to Moderate Buy Rating

Western Midstream Partners (NYSE:WES) was upgraded by equities research analysts at US Capital Advisors from a “hold” rating to a “moderate buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other research firms also recently issued reports on WES. 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. Morgan Stanley downgraded Western Midstream Partners from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $42.00 to $40.00 in a research note on Friday, October 25th. UBS Group reduced their price target on Western Midstream Partners from $40.00 to $37.00 and set a “neutral” rating for the company in a research report on Friday, November 15th. Stifel Nicolaus upped their price objective on Western Midstream Partners from $39.00 to $40.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. Finally, Bank of America began coverage on shares of Western Midstream Partners in a report on Thursday, October 17th. They set an “underperform” rating and a $37.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Western Midstream Partners has an average rating of “Hold” and a consensus target price of $37.88.

Western Midstream Partners Stock Up 1.1 %

WES stock opened at $38.75 on Tuesday. The stock has a market capitalization of $14.74 billion, a PE ratio of 9.88, a price-to-earnings-growth ratio of 1.03 and a beta of 2.88. Western Midstream Partners has a 52 week low of $26.81 and a 52 week high of $42.80. 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 firm has a 50 day moving average of $38.30 and a 200 day moving average of $38.70.

Western Midstream Partners (NYSE:WES) last announced its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.09). Western Midstream Partners had a net margin of 42.99% and a return on equity of 46.02%. The firm had revenue of $883.36 million during the quarter, compared to analyst estimates of $924.83 million. During the same period in the prior year, the company posted $0.70 earnings per share. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. Sell-side analysts forecast that Western Midstream Partners will post 4.09 earnings per share for the current year.

Institutional Trading of Western Midstream Partners

Several large investors have recently made changes to their positions in WES. Chickasaw Capital Management LLC increased its stake in shares of Western Midstream Partners by 0.6% in the 2nd quarter. Chickasaw Capital Management LLC now owns 6,711,006 shares of the pipeline company’s stock worth $266,628,000 after acquiring an additional 37,259 shares during the last quarter. Kayne Anderson Capital Advisors LP boosted its holdings in Western Midstream Partners by 23.5% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 6,228,448 shares of the pipeline company’s stock valued at $238,300,000 after purchasing an additional 1,184,597 shares during the last quarter. Fractal Investments LLC grew its stake in shares of Western Midstream Partners by 5.4% in the 3rd quarter. Fractal Investments LLC now owns 1,465,706 shares of the pipeline company’s stock valued at $56,078,000 after buying an additional 75,145 shares during the period. Miller Howard Investments Inc. NY increased its holdings in shares of Western Midstream Partners by 2.8% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 1,458,530 shares of the pipeline company’s stock worth $57,947,000 after buying an additional 39,827 shares during the last quarter. Finally, Recurrent Investment Advisors LLC raised its position in shares of Western Midstream Partners by 5.4% during the 3rd quarter. Recurrent Investment Advisors LLC now owns 1,397,140 shares of the pipeline company’s stock valued at $53,455,000 after buying an additional 71,210 shares during the period. 42.94% of the stock is currently owned by hedge funds and other institutional investors.

About Western Midstream Partners

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.