Western Midstream Partners, LP (NYSE:WES) Given Consensus Rating of “Hold” by Brokerages

Shares of Western Midstream Partners, LP (NYSE:WESGet Free Report) have been given a consensus recommendation of “Hold” by the seven ratings firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $42.2857.

WES has been the subject of several recent analyst reports. Stifel Nicolaus set a $46.00 target price on Western Midstream Partners and gave the stock a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. lowered their target price on Western Midstream Partners from $44.00 to $43.00 and set a “neutral” rating on the stock in a research note on Thursday, March 12th. Finally, Wells Fargo & Company increased their price target on shares of Western Midstream Partners from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Friday, March 13th.

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Western Midstream Partners News Summary

Here are the key news stories impacting Western Midstream Partners this week:

Western Midstream Partners Stock Down 0.0%

Shares of Western Midstream Partners stock opened at $43.48 on Wednesday. Western Midstream Partners has a 12-month low of $36.69 and a 12-month high of $44.74. The firm has a market capitalization of $17.12 billion, a PE ratio of 14.21 and a beta of 0.70. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.97. The stock’s fifty day moving average is $41.37 and its 200-day moving average is $40.44.

Western Midstream Partners (NYSE:WESGet Free Report) last released its quarterly earnings results on Wednesday, May 6th. The pipeline company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.11. The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.01 billion. Western Midstream Partners had a return on equity of 33.65% and a net margin of 29.98%.Western Midstream Partners’s revenue for the quarter was up 22.5% on a year-over-year basis. During the same quarter last year, the company posted $0.79 EPS. Equities analysts anticipate that Western Midstream Partners will post 3.25 earnings per share for the current year.

Western Midstream Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Friday, May 1st will be paid a dividend of $0.93 per share. This is an increase from Western Midstream Partners’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Friday, May 1st. This represents a $3.72 dividend on an annualized basis and a dividend yield of 8.6%. Western Midstream Partners’s dividend payout ratio (DPR) is 121.57%.

Insider Buying and Selling at Western Midstream Partners

In other news, SVP Christopher B. Dial sold 5,879 shares of the firm’s stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $42.35, for a total transaction of $248,975.65. Following the completion of the sale, the senior vice president directly owned 185,011 shares of the company’s stock, valued at $7,835,215.85. This trade represents a 3.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert G. Phillips purchased 1,250 shares of the stock in a transaction that occurred on Wednesday, March 11th. The stock was purchased at an average cost of $40.19 per share, with a total value of $50,237.50. Following the purchase, the director owned 5,296 shares in the company, valued at $212,846.24. This represents a 30.89% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 0.04% of the company’s stock.

Institutional Trading of Western Midstream Partners

Several large investors have recently added to or reduced their stakes in WES. Eagle Bay Advisors LLC bought a new position in shares of Western Midstream Partners during the 4th quarter valued at $27,000. Northwestern Mutual Wealth Management Co. bought a new stake in Western Midstream Partners in the fourth quarter worth $27,000. Rothschild Investment LLC increased its position in Western Midstream Partners by 76.2% during the fourth quarter. Rothschild Investment LLC now owns 793 shares of the pipeline company’s stock worth $31,000 after buying an additional 343 shares during the last quarter. Garton & Associates Financial Advisors LLC acquired a new position in Western Midstream Partners during the fourth quarter worth $32,000. Finally, Global Wealth Strategies & Associates bought a new position in Western Midstream Partners during the fourth quarter valued at about $35,000. 84.82% of the stock is owned by institutional investors.

About Western Midstream Partners

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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.

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Analyst Recommendations for Western Midstream Partners (NYSE:WES)

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