Western Midstream Partners (NYSE:WES) Reaches New 12-Month Low at $18.10

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Western Midstream Partners LP (NYSE:WES) shares reached a new 52-week low on Tuesday . The stock traded as low as $18.10 and last traded at $18.17, with a volume of 16009 shares traded. The stock had previously closed at $18.47.

Several analysts have recently commented on WES shares. Barclays set a $26.00 price objective on shares of Western Midstream Partners and gave the company a “hold” rating in a research report on Tuesday, October 15th. Citigroup decreased their price objective on shares of Western Midstream Partners from $35.00 to $26.00 and set a “buy” rating on the stock in a research report on Tuesday, October 1st. ValuEngine upgraded shares of Western Midstream Partners from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. downgraded shares of Western Midstream Partners from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $40.00 to $31.00 in a research report on Tuesday, August 13th. Finally, Zacks Investment Research upgraded shares of Western Midstream Partners from a “strong sell” rating to a “hold” rating in a research report on Saturday, November 9th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $32.08.

The company has a market capitalization of $8.74 billion, a PE ratio of 7.20, a PEG ratio of 2.38 and a beta of 1.43. The company’s 50 day moving average is $22.36 and its two-hundred day moving average is $26.52. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 2.32.

Western Midstream Partners (NYSE:WES) last posted its earnings results on Monday, November 4th. The pipeline company reported $0.27 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by ($0.20). The company had revenue of $666.03 million for the quarter, compared to analysts’ expectations of $688.91 million. Western Midstream Partners had a net margin of 18.35% and a return on equity of 15.32%. The business’s revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.39 earnings per share. Analysts forecast that Western Midstream Partners LP will post 1.35 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Friday, November 1st were paid a $0.62 dividend. This is a boost from Western Midstream Partners’s previous quarterly dividend of $0.62. This represents a $2.48 dividend on an annualized basis and a dividend yield of 13.74%. The ex-dividend date of this dividend was Thursday, October 31st. Western Midstream Partners’s dividend payout ratio (DPR) is presently 98.80%.

In other Western Midstream Partners news, Director David J. Tudor sold 5,000 shares of Western Midstream Partners stock in a transaction on Friday, September 20th. The shares were sold at an average price of $27.00, for a total value of $135,000.00.

Large investors have recently modified their holdings of the business. BNP Paribas Arbitrage SA purchased a new position in shares of Western Midstream Partners in the 2nd quarter worth $2,024,000. Bank of Montreal Can boosted its stake in shares of Western Midstream Partners by 95.2% during the 2nd quarter. Bank of Montreal Can now owns 3,468,071 shares of the pipeline company’s stock worth $106,713,000 after purchasing an additional 1,691,783 shares during the period. Fort Washington Investment Advisors Inc. OH boosted its stake in shares of Western Midstream Partners by 0.9% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 223,605 shares of the pipeline company’s stock worth $6,880,000 after purchasing an additional 1,900 shares during the period. Lenox Wealth Advisors LLC purchased a new position in shares of Western Midstream Partners during the 3rd quarter worth about $33,000. Finally, Cincinnati Insurance Co. boosted its stake in shares of Western Midstream Partners by 19.6% during the 3rd quarter. Cincinnati Insurance Co. now owns 103,608 shares of the pipeline company’s stock worth $2,579,000 after purchasing an additional 16,946 shares during the period. 41.26% of the stock is owned by institutional investors and hedge funds.

About Western Midstream Partners (NYSE:WES)

Western Midstream Partners, LP, together with its subsidiaries, engages in gathering, processing, compressing, treating, stabilizing, and transporting natural gas, condensate, natural gas liquids, and crude oil primarily in the United States. It is also involved in the gathering and disposing of produced water; and buying and selling of natural gas.

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