Western Midstream Partners (NYSE:WES) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Western Midstream Partners (NYSE:WES) from a hold rating to a buy rating in a report released on Saturday morning,Wall Street Zen reports.

Several other equities research analysts have also issued reports on WES. US Capital Advisors raised Western Midstream Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Friday, May 29th. Wells Fargo & Company boosted their price target on shares of Western Midstream Partners from $43.00 to $46.00 and gave the stock an “equal weight” rating in a report on Monday, August 10th. Morgan Stanley increased their price target on shares of Western Midstream Partners from $51.00 to $55.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 18th. Stifel Nicolaus initiated coverage on shares of Western Midstream Partners in a report on Thursday, September 10th. They set a “buy” rating and a $55.00 price objective for the company. Finally, Zacks Research raised shares of Western Midstream Partners from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 13th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, Western Midstream Partners currently has an average rating of “Moderate Buy” and an average price target of $49.25.

Western Midstream Partners Price Performance

Shares of NYSE WES opened at $47.90 on Friday. The company has a market capitalization of $19.79 billion, a PE ratio of 15.06, a PEG ratio of 1.44 and a beta of 0.69. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 2.02. The stock’s 50 day moving average price is $47.57 and its 200-day moving average price is $44.41. Western Midstream Partners has a twelve month low of $36.90 and a twelve month high of $50.07.

Western Midstream Partners (NYSE:WES) last issued its quarterly earnings results on Wednesday, August 5th. The pipeline company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.08. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.13 billion. Western Midstream Partners had a return on equity of 33.13% and a net margin of 29.44%.Western Midstream Partners’s revenue was up 30.0% on a year-over-year basis. During the same period last year, the business posted $0.87 earnings per share. On average, equities analysts anticipate that Western Midstream Partners will post 3.66 EPS for the current year.

Western Midstream Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were given a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 7.8%. The ex-dividend date was Friday, July 31st. Western Midstream Partners’s dividend payout ratio (DPR) is 116.98%.

Insider Activity

In related news, Director Frederick Forthuber bought 5,140 shares of the stock in a transaction that occurred on Wednesday, August 12th. The shares were acquired at an average cost of $48.62 per share, with a total value of $249,906.80. Following the completion of the purchase, the director directly owned 5,140 shares of the company’s stock, valued at $249,906.80. This trade represents a ? increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.04% of the company’s stock.

Hedge Funds Weigh In On Western Midstream Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of WES. Tidal Investments LLC grew its stake in shares of Western Midstream Partners by 77.5% during the second quarter. Tidal Investments LLC now owns 8,769 shares of the pipeline company’s stock valued at $384,000 after buying an additional 3,828 shares during the last quarter. Integrated Wealth Concepts LLC lifted its stake in shares of Western Midstream Partners by 59.9% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 9,922 shares of the pipeline company’s stock valued at $434,000 after acquiring an additional 3,717 shares during the last quarter. NewEdge Advisors LLC lifted its stake in shares of Western Midstream Partners by 8.1% in the 2nd quarter. NewEdge Advisors LLC now owns 71,977 shares of the pipeline company’s stock valued at $3,150,000 after acquiring an additional 5,393 shares during the last quarter. HighTower Advisors LLC grew its position in Western Midstream Partners by 14.2% during the 2nd quarter. HighTower Advisors LLC now owns 98,294 shares of the pipeline company’s stock worth $4,301,000 after acquiring an additional 12,252 shares during the last quarter. Finally, Compass Financial Management LLC bought a new position in Western Midstream Partners during the 2nd quarter worth approximately $132,000. Hedge funds and other institutional investors own 84.82% of the company’s stock.

About Western Midstream Partners

Western Midstream Partners, L.P. (NYSE:WES) is a publicly traded master limited partnership that owns, operates and develops midstream energy assets. The company provides gathering, processing, treating, compression, transportation and storage services for natural gas, crude oil, natural gas liquids and produced water.

Western Midstream’s infrastructure includes gathering systems, processing plants, pipelines, compressor stations, treatment facilities, storage assets and water-handling systems.