Mizuho Issues Positive Forecast for Western Midstream Partners (NYSE:WES) Stock Price

Western Midstream Partners (NYSE:WES) had its price target boosted by analysts at Mizuho from $48.00 to $51.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the pipeline company’s stock. Mizuho’s price objective would indicate a potential upside of 11.58% from the company’s current price.

Several other analysts have also weighed in on WES. Citigroup upped their target price on Western Midstream Partners from $39.00 to $42.00 and gave the company a “neutral” rating in a report on Tuesday, May 12th. Stifel Nicolaus set a $46.00 price objective on shares of Western Midstream Partners and gave the stock a “buy” rating in a research report on Thursday, May 7th. UBS Group increased their price objective on shares of Western Midstream Partners from $45.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday. Morgan Stanley upgraded shares of Western Midstream Partners from an “underweight” rating to an “equal weight” rating and set a $51.00 target price for the company in a report on Wednesday, June 10th. Finally, US Capital Advisors upgraded shares of Western Midstream Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $45.75.

Western Midstream Partners Price Performance

Shares of NYSE:WES opened at $45.71 on Tuesday. The business’s 50 day simple moving average is $44.22 and its 200-day simple moving average is $42.26. The firm has a market capitalization of $18.00 billion, a price-to-earnings ratio of 14.94, a price-to-earnings-growth ratio of 1.88 and a beta of 0.68. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.09 and a quick ratio of 1.09. Western Midstream Partners has a 12 month low of $36.90 and a 12 month high of $48.01.

Western Midstream Partners (NYSE:WES) last released its quarterly earnings results on Wednesday, May 6th. The pipeline company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.11. Western Midstream Partners had a return on equity of 33.89% and a net margin of 29.98%.The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the prior year, the firm posted $0.79 EPS. The company’s revenue was up 22.5% compared to the same quarter last year. As a group, equities analysts forecast that Western Midstream Partners will post 3.44 earnings per share for the current fiscal year.

Institutional Trading of Western Midstream Partners

Several institutional investors and hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Western Midstream Partners during the third quarter valued at $300,257,000. Morgan Stanley boosted its stake in shares of Western Midstream Partners by 98.1% during the 4th quarter. Morgan Stanley now owns 5,446,475 shares of the pipeline company’s stock worth $215,136,000 after purchasing an additional 2,696,439 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Western Midstream Partners by 106.9% during the 4th quarter. JPMorgan Chase & Co. now owns 3,005,252 shares of the pipeline company’s stock worth $118,707,000 after purchasing an additional 1,552,401 shares during the last quarter. Tortoise Capital Advisors L.L.C. grew its holdings in shares of Western Midstream Partners by 15.8% during the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 8,539,175 shares of the pipeline company’s stock worth $337,297,000 after buying an additional 1,163,991 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Western Midstream Partners by 10.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 9,562,213 shares of the pipeline company’s stock worth $377,707,000 after buying an additional 936,376 shares in the last quarter. 84.82% of the stock is currently owned by hedge funds and other institutional investors.

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.