Western Midstream Partners (NYSE:WES) Trading Up 5%

Western Midstream Partners LP (NYSE:WES)’s stock price was up 5% on Tuesday . The company traded as high as $19.61 and last traded at $19.50, approximately 2,605,586 shares changed hands during mid-day trading. An increase of 127% from the average daily volume of 1,150,027 shares. The stock had previously closed at $18.57.

A number of analysts have recently weighed in on WES shares. Barclays set a $26.00 target price on Western Midstream Partners and gave the company a “hold” rating in a research note on Tuesday, October 15th. Bank of America lowered their target price on Western Midstream Partners from $35.00 to $29.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th. JPMorgan Chase & Co. lowered Western Midstream Partners from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $40.00 to $31.00 in a research note on Tuesday, August 13th. LADENBURG THALM/SH SH lowered Western Midstream Partners from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 13th. Finally, Citigroup lowered their target price on Western Midstream Partners from $26.00 to $23.00 and set a “buy” rating for the company in a research note on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $31.85.

The stock has a 50-day moving average of $19.73 and a 200 day moving average of $25.17. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.66 and a quick ratio of 0.66. The stock has a market capitalization of $8.04 billion, a price-to-earnings ratio of 7.77, a price-to-earnings-growth ratio of 2.19 and a beta of 1.36.

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

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Friday, November 1st were given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 12.72%. This is a positive change from Western Midstream Partners’s previous quarterly dividend of $0.62. 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 news, Director James R. Crane acquired 71,041 shares of the 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 directly owns 169,068 shares in the company, valued at $3,075,346.92. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director David J. Tudor sold 5,000 shares of Western Midstream Partners stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $27.00, for a total value of $135,000.00.

A number of hedge funds have recently made changes to their positions in WES. FMR LLC increased its position in Western Midstream Partners by 83.4% in the first quarter. FMR LLC now owns 320,105 shares of the pipeline company’s stock worth $10,038,000 after purchasing an additional 145,604 shares during the period. First Trust Advisors LP acquired a new position in shares of Western Midstream Partners during the 1st quarter worth about $5,321,000. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Western Midstream Partners by 41.2% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 109,675 shares of the pipeline company’s stock worth $3,375,000 after buying an additional 32,000 shares during the period. SG Americas Securities LLC acquired a new position in shares of Western Midstream Partners during the 2nd quarter worth about $717,000. Finally, BNP Paribas Arbitrage SA acquired a new position in shares of Western Midstream Partners during the 2nd quarter worth about $2,024,000. Hedge funds and other institutional investors own 41.45% of the company’s stock.

Western Midstream Partners Company Profile (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.

Further Reading: Commodities

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