Western Midstream Partners (NYSE:WES) Hits New 52-Week High – Still a Buy?

Western Midstream Partners, LP (NYSE:WES) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $47.04 and last traded at $47.1440, with a volume of 459545 shares changing hands. The stock had previously closed at $46.03.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Wall Street Zen upgraded Western Midstream Partners from a “hold” rating to a “buy” rating in a report on Saturday. Stifel Nicolaus set a $46.00 price objective on shares of Western Midstream Partners and gave the stock a “buy” rating in a research note on Thursday, May 7th. Wells Fargo & Company boosted their target price on shares of Western Midstream Partners from $41.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 13th. JPMorgan Chase & Co. reduced their price target on shares of Western Midstream Partners from $44.00 to $43.00 and set a “neutral” rating for the company in a report on Thursday, March 12th. Finally, Citigroup raised their price target on shares of Western Midstream Partners from $39.00 to $42.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 12th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Western Midstream Partners presently has a consensus rating of “Hold” and an average price target of $43.00.

Western Midstream Partners Stock Performance

The firm has a fifty day simple moving average of $41.76 and a 200 day simple moving average of $40.72. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.34. The stock has a market cap of $18.56 billion, a price-to-earnings ratio of 15.41 and a beta of 0.70.

Western Midstream Partners (NYSE:WES) last announced its quarterly earnings data on Wednesday, May 6th. The pipeline company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.11. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.01 billion. Western Midstream Partners had a return on equity of 33.89% and a net margin of 29.98%.Western Midstream Partners’s revenue for the quarter was up 22.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.79 EPS. As a group, sell-side analysts expect that Western Midstream Partners, LP will post 3.38 earnings per share for the current year.

Western Midstream Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were paid a dividend of $0.93 per share. This is an increase from Western Midstream Partners’s previous quarterly dividend of $0.91. This represents a $3.72 dividend on an annualized basis and a yield of 7.9%. The ex-dividend date was Friday, May 1st. Western Midstream Partners’s dividend payout ratio is presently 121.57%.

Insider Transactions at Western Midstream Partners

In other Western Midstream Partners news, Director Robert G. Phillips acquired 1,250 shares of the company’s stock in a transaction dated Wednesday, March 11th. The stock was bought at an average price of $40.19 per share, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is available through this link. 0.04% of the stock is owned by company insiders.

Institutional Trading of Western Midstream Partners

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

Western Midstream Partners Company Profile

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.