Western Midstream Partners, LP (NYSE:WES) Receives $36.75 Consensus Price Target from Analysts

Western Midstream Partners, LP (NYSE:WES - Get Free Report) has earned a consensus rating of "Hold" from the ten research firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $36.75.

Several research firms have recently weighed in on WES. Royal Bank of Canada upped their price objective on Western Midstream Partners from $36.00 to $38.00 and gave the company a "sector perform" rating in a research note on Tuesday, August 27th. UBS Group upped their price objective on Western Midstream Partners from $38.00 to $39.00 and gave the company a "neutral" rating in a research note on Wednesday, September 18th. Stifel Nicolaus increased their price target 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. Morgan Stanley lowered Western Midstream Partners from an "overweight" rating to an "equal weight" rating and set a $42.00 price target on the stock. in a research report on Monday, September 16th. Finally, StockNews.com upgraded Western Midstream Partners from a "buy" rating to a "strong-buy" rating in a research report on Friday.

Western Midstream Partners Price Performance

Shares of WES stock traded down $0.70 during trading hours on Tuesday, hitting $39.15. The company had a trading volume of 642,901 shares, compared to its average volume of 1,228,398. Western Midstream Partners has a 12 month low of $26.49 and a 12 month high of $42.80. The firm has a market capitalization of $14.90 billion, a price-to-earnings ratio of 11.03, a PEG ratio of 0.74 and a beta of 2.87. The firm's fifty day moving average is $38.60 and its 200 day moving average is $38.06. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.68 and a current ratio of 1.68.

Western Midstream Partners (NYSE:WES - Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.09. Western Midstream Partners had a return on equity of 47.19% and a net margin of 44.01%. The company had revenue of $905.63 million for the quarter, compared to analyst estimates of $904.94 million. During the same period in the prior year, the company posted $0.64 EPS. The company's revenue was up 22.7% compared to the same quarter last year. On average, sell-side analysts predict that Western Midstream Partners will post 4.16 EPS for the current fiscal year.

Western Midstream Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st were issued a dividend of $0.875 per share. This represents a $3.50 annualized dividend and a yield of 8.94%. The ex-dividend date was Thursday, August 1st. Western Midstream Partners's dividend payout ratio is 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 company's stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the transaction, the insider now owns 165,681,578 shares of the company's stock, valued at approximately $5,923,116,413.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.04% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Daymark Wealth Partners LLC lifted its stake in shares of Western Midstream Partners by 4.8% in the 3rd quarter. Daymark Wealth Partners LLC now owns 32,807 shares of the pipeline company's stock valued at $1,255,000 after purchasing an additional 1,501 shares during the period. SL Advisors LLC lifted its stake in shares of Western Midstream Partners by 4.1% in the 3rd quarter. SL Advisors LLC now owns 24,177 shares of the pipeline company's stock valued at $925,000 after purchasing an additional 952 shares during the period. Sanctuary Advisors LLC acquired a new position in shares of Western Midstream Partners in the 2nd quarter valued at $694,000. Truist Financial Corp lifted its stake in shares of Western Midstream Partners by 1.9% in the 2nd quarter. Truist Financial Corp now owns 22,508 shares of the pipeline company's stock valued at $894,000 after purchasing an additional 421 shares during the period. Finally, Duff & Phelps Investment Management Co. acquired a new position in shares of Western Midstream Partners in the 2nd quarter valued at $397,000. Institutional investors and hedge funds 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.