Mizuho Increases Western Midstream Partners (NYSE:WES) Price Target to $39.00

Western Midstream Partners (NYSE:WES) had its target price boosted by stock analysts at Mizuho from $34.00 to $39.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the pipeline company’s stock. Mizuho’s target price would indicate a potential upside of 9.43% from the stock’s previous close.

WES has been the topic of several other research reports. Citigroup downgraded Western Midstream Partners from a “buy” rating to a “neutral” rating and boosted their price target for the company from $30.00 to $34.00 in a research note on Thursday, February 29th. Raymond James reiterated a “market perform” rating on shares of Western Midstream Partners in a research note on Tuesday, March 19th. Stifel Nicolaus boosted their price target on Western Midstream Partners from $35.00 to $36.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Finally, Wolfe Research upgraded Western Midstream Partners from an “underperform” rating to a “peer perform” rating in a research note on Thursday, April 18th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $31.09.

Western Midstream Partners Stock Up 0.3 %

Shares of WES stock opened at $35.64 on Tuesday. Western Midstream Partners has a 1-year low of $25.04 and a 1-year high of $36.79. The stock’s fifty day moving average price is $34.89 and its 200 day moving average price is $30.77. The company has a debt-to-equity ratio of 2.40, a current ratio of 0.76 and a quick ratio of 0.76. The company has a market cap of $13.56 billion, a price-to-earnings ratio of 13.71 and a beta of 2.82.

Western Midstream Partners (NYSE:WES) last posted its quarterly earnings results on Wednesday, February 21st. The pipeline company reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.04). The firm had revenue of $858.21 million for the quarter, compared to analysts’ expectations of $850.23 million. Western Midstream Partners had a net margin of 32.72% and a return on equity of 33.58%. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.85 EPS. On average, research analysts expect that Western Midstream Partners will post 3.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Lisa A. Stewart bought 2,500 shares of Western Midstream Partners stock in a transaction on Wednesday, March 6th. The stock was acquired at an average price of $34.87 per share, with a total value of $87,175.00. Following the completion of the acquisition, the director now directly owns 30,730 shares of the company’s stock, valued at $1,071,555.10. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Kenneth F. Owen bought 7,000 shares of Western Midstream Partners stock in a transaction on Monday, February 26th. The stock was acquired at an average price of $33.96 per share, with a total value of $237,720.00. Following the completion of the acquisition, the director now directly owns 32,730 shares of the company’s stock, valued at $1,111,510.80. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Lisa A. Stewart bought 2,500 shares of Western Midstream Partners stock in a transaction on Wednesday, March 6th. The shares were purchased at an average cost of $34.87 per share, with a total value of $87,175.00. Following the acquisition, the director now directly owns 30,730 shares of the company’s stock, valued at $1,071,555.10. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Western Midstream Partners

Hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC grew its position in shares of Western Midstream Partners by 13.2% in the third quarter. SG Americas Securities LLC now owns 19,441 shares of the pipeline company’s stock valued at $529,000 after purchasing an additional 2,266 shares in the last quarter. Raymond James & Associates grew its position in Western Midstream Partners by 29.5% in the third quarter. Raymond James & Associates now owns 98,215 shares of the pipeline company’s stock worth $2,674,000 after acquiring an additional 22,380 shares during the period. Raymond James Financial Services Advisors Inc. grew its position in Western Midstream Partners by 15.8% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 357,912 shares of the pipeline company’s stock worth $9,746,000 after acquiring an additional 48,962 shares during the period. Bank of New York Mellon Corp purchased a new position in Western Midstream Partners in the third quarter worth approximately $216,000. Finally, Chicago Partners Investment Group LLC grew its position in Western Midstream Partners by 1.6% in the third quarter. Chicago Partners Investment Group LLC now owns 26,363 shares of the pipeline company’s stock worth $725,000 after acquiring an additional 407 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.