FY2024 EPS Estimates for WES Reduced by US Capital Advisors

Western Midstream Partners, LP (NYSE:WES - Free Report) - US Capital Advisors dropped their FY2024 earnings per share estimates for Western Midstream Partners in a note issued to investors on Tuesday, November 26th. US Capital Advisors analyst J. Carreker now anticipates that the pipeline company will post earnings per share of $4.05 for the year, down from their prior estimate of $4.17. US Capital Advisors has a "Moderate Buy" rating on the stock. The consensus estimate for Western Midstream Partners' current full-year earnings is $4.09 per share. US Capital Advisors also issued estimates for Western Midstream Partners' Q4 2024 earnings at $0.87 EPS, Q1 2025 earnings at $0.84 EPS, Q2 2025 earnings at $0.87 EPS, Q3 2025 earnings at $0.88 EPS, Q4 2025 earnings at $0.96 EPS, FY2025 earnings at $3.56 EPS and FY2026 earnings at $3.84 EPS.

Several other equities research analysts have also recently commented on WES. Morgan Stanley cut Western Midstream Partners from an "equal weight" rating to an "underweight" rating and cut their target price for the company from $42.00 to $40.00 in a research note on Friday, October 25th. Royal Bank of Canada boosted their price objective on shares of Western Midstream Partners from $38.00 to $41.00 and gave the stock a "sector perform" rating in a research report on Wednesday, October 16th. UBS Group reduced their target price on shares of Western Midstream Partners from $40.00 to $37.00 and set a "neutral" rating for the company in a report on Friday, November 15th. Bank of America started coverage on shares of Western Midstream Partners in a research note on Thursday, October 17th. They set an "underperform" rating and a $37.00 price objective for the company. Finally, StockNews.com downgraded Western Midstream Partners from a "strong-buy" rating to a "buy" rating in a research report on Monday, October 28th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $37.88.

Western Midstream Partners Stock Up 2.3 %

Shares of WES stock traded up $0.89 on Thursday, hitting $39.63. 1,147,921 shares of the stock were exchanged, compared to its average volume of 1,613,342. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.05. The firm has a market capitalization of $15.08 billion, a P/E ratio of 10.11, a price-to-earnings-growth ratio of 1.04 and a beta of 2.88. Western Midstream Partners has a fifty-two week low of $26.81 and a fifty-two week high of $42.80. The business has a 50-day moving average of $38.27 and a 200 day moving average of $38.73.

Western Midstream Partners (NYSE:WES - Get Free Report) last announced its earnings results 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 return on equity of 46.02% and a net margin of 42.99%. The company had revenue of $883.36 million during the quarter, compared to analyst estimates of $924.83 million. During the same period in the previous year, the company posted $0.70 earnings per share. Western Midstream Partners's revenue for the quarter was up 13.8% on a year-over-year basis.

Western Midstream Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were issued a $0.875 dividend. This represents a $3.50 dividend on an annualized basis and a yield of 8.83%. The ex-dividend date was Friday, November 1st. Western Midstream Partners's dividend payout ratio is 89.29%.

Institutional Investors Weigh In On Western Midstream Partners

Hedge funds and other institutional investors have recently modified their holdings of the company. MAI Capital Management raised its stake in Western Midstream Partners by 293.1% in the 3rd quarter. MAI Capital Management now owns 29,878 shares of the pipeline company's stock worth $1,143,000 after purchasing an additional 22,277 shares in the last quarter. Fractal Investments LLC grew its position in Western Midstream Partners by 5.4% during the third quarter. Fractal Investments LLC now owns 1,465,706 shares of the pipeline company's stock worth $56,078,000 after buying an additional 75,145 shares in the last quarter. Highland Capital Management LLC bought a new position in Western Midstream Partners during the 2nd quarter worth $516,000. International Assets Investment Management LLC raised its holdings in Western Midstream Partners by 9,082.5% in the 3rd quarter. International Assets Investment Management LLC now owns 18,365 shares of the pipeline company's stock valued at $703,000 after acquiring an additional 18,165 shares in the last quarter. Finally, Raymond James & Associates lifted its position in shares of Western Midstream Partners by 30.2% during the 2nd quarter. Raymond James & Associates now owns 103,883 shares of the pipeline company's stock valued at $4,127,000 after acquiring an additional 24,072 shares during the period. Institutional investors and hedge funds own 42.94% of the company's stock.

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.