Western Midstream Partners LP (NYSE:WES) Receives $32.25 Consensus Price Target from Analysts

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Western Midstream Partners LP (NYSE:WES) has received an average recommendation of “Hold” from the sixteen analysts that are covering the stock, Marketbeat reports. Thirteen analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $32.25.

A number of brokerages have issued reports on WES. Barclays set a $26.00 price target on Western Midstream Partners and gave the company a “hold” rating in a report on Tuesday, October 15th. ValuEngine raised Western Midstream Partners from a “sell” rating to a “hold” rating in a report on Wednesday. Scotiabank initiated coverage on Western Midstream Partners in a research note on Tuesday, September 3rd. They set a “sector perform” rating and a $28.00 target price for the company. Zacks Investment Research raised Western Midstream Partners from a “strong sell” rating to a “hold” rating in a research note on Saturday, November 9th. Finally, Mizuho reduced their target price on Western Midstream Partners from $34.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, September 6th.

In other news, Director James R. Crane purchased 71,041 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was purchased at an average cost of $18.19 per share, for a total transaction of $1,292,235.79. Following the completion of the transaction, the director now owns 169,068 shares of the company’s stock, valued at $3,075,346.92. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David J. Tudor sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $27.00, for a total value of $135,000.00. Corporate insiders own 0.01% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. B & T Capital Management DBA Alpha Capital Management purchased a new stake in shares of Western Midstream Partners during the third quarter worth approximately $30,000. Lenox Wealth Advisors LLC purchased a new stake in shares of Western Midstream Partners during the third quarter worth approximately $33,000. HM Payson & Co. purchased a new stake in shares of Western Midstream Partners during the second quarter worth approximately $34,000. Doyle Wealth Management purchased a new stake in shares of Western Midstream Partners during the second quarter worth approximately $47,000. Finally, Manchester Capital Management LLC purchased a new stake in shares of Western Midstream Partners during the second quarter worth approximately $62,000. Hedge funds and other institutional investors own 41.45% of the company’s stock.

Shares of NYSE:WES opened at $18.95 on Tuesday. Western Midstream Partners has a 12-month low of $17.46 and a 12-month high of $35.75. The company has a market capitalization of $8.79 billion, a PE ratio of 11.83, a PEG ratio of 2.39 and a beta of 1.35. The business has a 50 day moving average of $19.51 and a two-hundred day moving average of $25.01. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 2.32.

Western Midstream Partners (NYSE:WES) last announced its quarterly earnings results on Monday, November 4th. The pipeline company reported $0.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($0.20). Western Midstream Partners had a net margin of 18.35% and a return on equity of 15.32%. The company had revenue of $666.03 million during the quarter, compared to analyst estimates of $688.91 million. During the same period in the previous year, the firm posted $0.39 earnings per share. The company’s revenue was up 13.3% compared to the same quarter last year. Equities research analysts predict that Western Midstream Partners will post 1.35 earnings per share for the current fiscal year.

Western Midstream Partners Company Profile

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.

Read More: What Factors Can Affect Return on Equity?

Analyst Recommendations for Western Midstream Partners (NYSE:WES)

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