Western Midstream Partners (NYSE:WES – Get Free Report) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Saturday.
WES has been the topic of a number of other reports. Mizuho lifted their price objective on Western Midstream Partners from $34.00 to $39.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. Wolfe Research raised shares of Western Midstream Partners from an “underperform” rating to a “peer perform” rating in a research report on Thursday, April 18th. Stifel Nicolaus raised their target price on shares of Western Midstream Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Citigroup cut shares of Western Midstream Partners from a “buy” rating to a “neutral” rating and boosted their price target for the company from $30.00 to $34.00 in a research report on Thursday, February 29th. Finally, Raymond James restated a “market perform” rating on shares of Western Midstream Partners in a report on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Western Midstream Partners has a consensus rating of “Hold” and an average price target of $31.09.
Western Midstream Partners Trading Up 1.4 %
Shares of NYSE:WES traded up $0.54 during trading on Friday, reaching $38.04. 855,795 shares of the company traded hands, compared to its average volume of 1,279,508. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 2.15. Western Midstream Partners has a 52-week low of $25.04 and a 52-week high of $38.34. The firm has a market capitalization of $14.47 billion, a price-to-earnings ratio of 10.72 and a beta of 2.82. The business’s fifty day moving average is $35.40 and its 200-day moving average is $31.34.
Western Midstream Partners (NYSE:WES – Get Free Report) last announced its quarterly earnings results on Wednesday, May 8th. The pipeline company reported $1.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.62. The business had revenue of $887.73 million for the quarter, compared to analyst estimates of $868.22 million. Western Midstream Partners had a net margin of 42.50% and a return on equity of 44.76%. The company’s revenue was up 20.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.52 EPS. As a group, analysts forecast that Western Midstream Partners will post 3.64 EPS for the current year.
Insider Buying and Selling
In other news, Director Lisa A. Stewart bought 2,500 shares of the stock in a transaction on Wednesday, March 6th. The shares were bought at an average price of $34.87 per share, with a total value of $87,175.00. Following the completion of the acquisition, the director now owns 30,730 shares in the company, valued at $1,071,555.10. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Kenneth F. Owen acquired 7,000 shares of Western Midstream Partners stock in a transaction dated Monday, February 26th. The stock was purchased at an average cost of $33.96 per share, for a total transaction of $237,720.00. Following the purchase, the director now directly owns 32,730 shares of the company’s stock, valued at approximately $1,111,510.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lisa A. Stewart bought 2,500 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were bought at an average price of $34.87 per share, for a total transaction of $87,175.00. Following the completion of the transaction, the director now directly owns 30,730 shares of the company’s stock, valued at approximately $1,071,555.10. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in WES. Larson Financial Group LLC purchased a new stake in Western Midstream Partners in the 3rd quarter worth $27,000. Eagle Bay Advisors LLC bought a new position in shares of Western Midstream Partners during the first quarter worth $29,000. American National Bank grew its stake in Western Midstream Partners by 34.5% during the first quarter. American National Bank now owns 1,190 shares of the pipeline company’s stock valued at $42,000 after acquiring an additional 305 shares in the last quarter. Fortitude Family Office LLC bought a new stake in Western Midstream Partners in the 4th quarter valued at $43,000. Finally, Retirement Group LLC increased its holdings in Western Midstream Partners by 40.2% in the 1st quarter. Retirement Group LLC now owns 1,591 shares of the pipeline company’s stock valued at $57,000 after acquiring an additional 456 shares during the last quarter. Institutional investors own 42.94% of the company’s stock.
About Western Midstream Partners
Western Midstream Partners, LP, together with its subsidiaries, operates as a midstream energy company primarily in the United States. It is involved in gathering, compressing, treating, processing, and transporting natural gas; gathering, stabilizing, and transporting condensate, natural gas liquids (NGLs), and crude oil; and gathering and disposing produced water.