UBS Group Issues Pessimistic Forecast for Western Midstream Partners (NYSE:WES) Stock Price

Western Midstream Partners (NYSE:WES - Get Free Report) had its target price decreased by stock analysts at UBS Group from $40.00 to $37.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a "neutral" rating on the pipeline company's stock. UBS Group's price target indicates a potential downside of 3.14% from the company's previous close.

Other analysts have also recently issued reports about the company. StockNews.com cut Western Midstream Partners from a "strong-buy" rating to a "buy" rating in a research report on Monday, October 28th. Royal Bank of Canada increased their price target 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. 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 report on Friday, August 9th. Morgan Stanley lowered Western Midstream Partners from an "equal weight" rating to an "underweight" rating and decreased their target price for the stock from $42.00 to $40.00 in a research note on Friday, October 25th. Finally, Bank of America started coverage on Western Midstream Partners in a research report on Thursday, October 17th. They issued an "underperform" rating and a $37.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Western Midstream Partners presently has an average rating of "Hold" and a consensus price target of $37.88.

Western Midstream Partners Stock Up 1.1 %

Shares of Western Midstream Partners stock traded up $0.42 during trading on Friday, hitting $38.20. 2,520,163 shares of the stock traded hands, compared to its average volume of 1,244,391. The firm has a market cap of $14.54 billion, a P/E ratio of 9.74, a price-to-earnings-growth ratio of 0.69 and a beta of 2.88. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.05. Western Midstream Partners has a 52-week low of $26.81 and a 52-week high of $42.80. The stock's fifty day simple moving average is $38.38 and its 200 day simple moving average is $38.54.

Western Midstream Partners (NYSE:WES - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.74 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.09). The firm had revenue of $883.36 million for the quarter, compared to analysts' expectations of $924.83 million. Western Midstream Partners had a net margin of 42.99% and a return on equity of 46.02%. The business's quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.70 EPS. On average, equities analysts predict that Western Midstream Partners will post 4.13 earnings per share for the current fiscal year.

Institutional Trading of Western Midstream Partners

Several institutional investors and hedge funds have recently bought and sold shares of WES. Cedar Mountain Advisors LLC lifted its holdings in shares of Western Midstream Partners by 16.1% in the third quarter. Cedar Mountain Advisors LLC now owns 2,158 shares of the pipeline company's stock valued at $83,000 after purchasing an additional 299 shares in the last quarter. Bleakley Financial Group LLC lifted its stake in shares of Western Midstream Partners by 5.8% in the third quarter. Bleakley Financial Group LLC now owns 5,711 shares of the pipeline company's stock valued at $218,000 after buying an additional 311 shares during the period. Albert D Mason Inc. lifted its stake in Western Midstream Partners by 0.7% during the second quarter. Albert D Mason Inc. now owns 48,760 shares of the pipeline company's stock worth $1,937,000 after purchasing an additional 333 shares during the period. Concurrent Investment Advisors LLC lifted its stake in Western Midstream Partners by 6.2% during the third quarter. Concurrent Investment Advisors LLC now owns 6,053 shares of the pipeline company's stock worth $232,000 after purchasing an additional 352 shares during the period. Finally, Truist Financial Corp lifted its stake in Western Midstream Partners by 1.9% during the second quarter. Truist Financial Corp now owns 22,508 shares of the pipeline company's stock worth $894,000 after purchasing an additional 421 shares during the period. 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.