Western Midstream Partners (NYSE:WES) Price Target Lowered to $42.00 at Stifel Nicolaus

Western Midstream Partners (NYSE:WES) had its price objective cut by equities research analysts at Stifel Nicolaus from $43.00 to $42.00 in a research report issued to clients and investors on Friday, MarketBeat.com reports. The brokerage presently has a “hold” rating on the pipeline company’s stock. Stifel Nicolaus’ price objective would indicate a potential upside of 2.02% from the stock’s previous close.

WES has been the topic of a number of other research reports. Wall Street Zen cut shares of Western Midstream Partners from a “buy” rating to a “hold” rating in a report on Saturday, December 27th. Royal Bank Of Canada boosted their target price on Western Midstream Partners from $39.00 to $42.00 and gave the company a “sector perform” rating in a research note on Friday, November 28th. Finally, Wells Fargo & Company cut their price target on Western Midstream Partners from $40.00 to $39.00 and set an “equal weight” rating for the company in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $41.17.

Western Midstream Partners Stock Performance

WES stock traded down $0.32 during midday trading on Friday, hitting $41.17. The company’s stock had a trading volume of 84,004 shares, compared to its average volume of 1,361,626. The stock has a market cap of $16.80 billion, a price-to-earnings ratio of 13.74 and a beta of 0.77. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 2.08. The stock’s 50-day moving average price is $40.78 and its 200 day moving average price is $39.36. Western Midstream Partners has a 1 year low of $33.60 and a 1 year high of $44.74.

Western Midstream Partners (NYSE:WES) last released its earnings results on Wednesday, February 18th. The pipeline company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.44). Western Midstream Partners had a return on equity of 35.21% and a net margin of 30.52%.The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the previous year, the firm earned $0.85 earnings per share. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. On average, equities analysts forecast that Western Midstream Partners will post 4.02 EPS for the current year.

Insiders Place Their Bets

In other Western Midstream Partners news, SVP Christopher B. Dial sold 5,879 shares of the stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $42.35, for a total value of $248,975.65. Following the sale, the senior vice president directly owned 185,011 shares in the company, valued at $7,835,215.85. This represents a 3.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.04% of the company’s stock.

Institutional Investors Weigh In On Western Midstream Partners

A number of institutional investors and hedge funds have recently made changes to their positions in WES. Eagle Bay Advisors LLC purchased a new position in Western Midstream Partners during the fourth quarter worth about $27,000. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Western Midstream Partners during the fourth quarter worth about $27,000. Rothschild Investment LLC increased its position in shares of Western Midstream Partners by 76.2% in the fourth quarter. Rothschild Investment LLC now owns 793 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 343 shares during the last quarter. Garton & Associates Financial Advisors LLC purchased a new stake in Western Midstream Partners in the fourth quarter valued at approximately $32,000. Finally, Global Wealth Strategies & Associates purchased a new stake in Western Midstream Partners in the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 84.82% of the company’s stock.

About Western Midstream Partners

Western Midstream Partners, LP (NYSE: WES) is a midstream energy infrastructure company that owns, operates and develops an integrated network of crude oil, natural gas and produced water gathering, processing, transportation and storage assets in the United States. The partnership’s primary offerings include pipeline transportation, fractionation services, natural gas liquids (NGL) logistics and produced water handling. Through its fee-based and commodity-based contracts, Western Midstream provides its customers with essential services that support efficient energy production and distribution.

The company’s asset portfolio spans key onshore basins, including the Delaware Basin in West Texas and southeastern New Mexico, the San Juan Basin in New Mexico and Colorado, and the Denver-Julesburg Basin in Colorado.