Western Midstream Partners, LP (NYSE:WES) Receives $38.43 Average Price Target from Analysts

Shares of Western Midstream Partners, LP (NYSE:WES - Get Free Report) have received an average recommendation of "Reduce" from the nine brokerages that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $38.43.

WES has been the subject of a number of analyst reports. US Capital Advisors raised Western Midstream Partners from a "hold" rating to a "moderate buy" rating in a research report on Tuesday, November 26th. UBS Group dropped their price target on shares of Western Midstream Partners from $40.00 to $37.00 and set a "neutral" rating on the stock in a research report on Friday, November 15th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $41.00 target price on shares of Western Midstream Partners in a report on Monday, December 9th. Finally, StockNews.com upgraded shares of Western Midstream Partners from a "hold" rating to a "buy" rating in a report on Saturday.

Western Midstream Partners Stock Up 4.2 %

Shares of Western Midstream Partners stock traded up $1.64 during midday trading on Friday, reaching $40.56. 1,940,991 shares of the company's stock traded hands, compared to its average volume of 1,422,516. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.11 and a current ratio of 1.11. Western Midstream Partners has a 52 week low of $33.39 and a 52 week high of $43.33. The company's 50 day simple moving average is $40.45 and its 200 day simple moving average is $39.25. The company has a market cap of $15.46 billion, a price-to-earnings ratio of 10.35, a price-to-earnings-growth ratio of 1.40 and a beta of 2.88.

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Western Midstream Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were issued a $0.875 dividend. This represents a $3.50 annualized dividend and a dividend yield of 8.63%. The ex-dividend date was Monday, February 3rd. Western Midstream Partners's payout ratio is 86.85%.

Institutional Investors Weigh In On Western Midstream Partners

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Stifel Financial Corp raised its holdings in Western Midstream Partners by 42.1% during the 3rd quarter. Stifel Financial Corp now owns 108,367 shares of the pipeline company's stock worth $4,146,000 after purchasing an additional 32,119 shares during the last quarter. BNP Paribas Financial Markets raised its position in Western Midstream Partners by 6.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 996,018 shares of the pipeline company's stock valued at $38,108,000 after buying an additional 60,603 shares during the last quarter. MAI Capital Management lifted its position in shares of Western Midstream Partners by 293.1% in the third 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. Citigroup Inc. grew its holdings in shares of Western Midstream Partners by 322.1% in the 3rd quarter. Citigroup Inc. now owns 406,587 shares of the pipeline company's stock valued at $15,556,000 after acquiring an additional 310,260 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Western Midstream Partners by 60.1% in the third quarter. JPMorgan Chase & Co. now owns 1,785,105 shares of the pipeline company's stock valued at $68,298,000 after purchasing an additional 670,440 shares in the last quarter. Institutional investors and hedge funds own 84.82% 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.