JPMorgan Chase & Co. Has Lowered Expectations for Western Midstream Partners (NYSE:WES) Stock Price

by · The Markets Daily

Western Midstream Partners (NYSE:WES – Get Free Report) had its price target cut by investment analysts at JPMorgan Chase & Co. from $44.00 to $43.00 in a report released on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the pipeline company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 5.76% from the company’s current price.

Several other research analysts also recently commented on the stock. Stifel Nicolaus decreased their price target on shares of Western Midstream Partners from $43.00 to $42.00 and set a “hold” rating on the stock in a research note on Friday, February 20th. Wall Street Zen cut shares of Western Midstream Partners from a “buy” rating to a “hold” rating in a research note on Saturday, December 27th. Royal Bank Of Canada lifted their target price on shares of Western Midstream Partners from $39.00 to $42.00 and gave the stock a “sector perform” rating in a research report on Friday, November 28th. Finally, Wells Fargo & Company lowered their price target on shares of Western Midstream Partners from $40.00 to $39.00 and set an “equal weight” rating for the company in a research note on Thursday, January 22nd. One analyst has rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Western Midstream Partners has an average rating of “Hold” and an average price target of $41.43.

View Our Latest Research Report on Western Midstream Partners

Western Midstream Partners Price Performance

NYSE WES traded up $0.07 during trading hours on Thursday, reaching $40.66. 1,023,228 shares of the stock traded hands, compared to its average volume of 1,448,623. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.34 and a quick ratio of 1.34. The stock has a 50 day simple moving average of $41.33 and a two-hundred day simple moving average of $39.64. Western Midstream Partners has a 1 year low of $33.60 and a 1 year high of $44.74. The company has a market cap of $16.01 billion, a price-to-earnings ratio of 13.55 and a beta of 0.76.

Western Midstream Partners (NYSE:WES – Get Free Report) last posted its quarterly earnings data on Wednesday, February 18th. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.44). The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Western Midstream Partners had a return on equity of 33.14% and a net margin of 30.52%.Western Midstream Partners’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.85 earnings per share. On average, analysts predict that Western Midstream Partners will post 4.02 EPS for the current fiscal year.

Insider Buying and Selling

In other Western Midstream Partners news, SVP Christopher B. Dial sold 5,879 shares of the company’s stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $42.35, for a total transaction of $248,975.65. Following the completion of the transaction, the senior vice president owned 185,011 shares of the company’s stock, valued at $7,835,215.85. This represents a 3.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.04% of the stock is owned by insiders.

Hedge Funds Weigh In On Western Midstream Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Alps Advisors Inc. boosted its holdings in Western Midstream Partners by 0.9% in the fourth quarter. Alps Advisors Inc. now owns 35,074,357 shares of the pipeline company’s stock valued at $1,385,437,000 after acquiring an additional 299,631 shares in the last quarter. Invesco Ltd. raised its holdings in Western Midstream Partners by 0.3% in the 3rd quarter. Invesco Ltd. now owns 24,292,437 shares of the pipeline company’s stock worth $954,450,000 after purchasing an additional 81,183 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Western Midstream Partners by 10.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 9,562,213 shares of the pipeline company’s stock worth $377,707,000 after purchasing an additional 936,376 shares during the period. Tortoise Capital Advisors L.L.C. lifted its position in shares of Western Midstream Partners by 15.8% in the 4th quarter. Tortoise Capital Advisors L.L.C. now owns 8,539,175 shares of the pipeline company’s stock worth $337,297,000 after purchasing an additional 1,163,991 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Western Midstream Partners during the 3rd quarter valued at about $300,257,000. Institutional investors own 84.82% of the company’s stock.

Western Midstream Partners Company Profile

(Get Free Report)

Western Midstream Partners, LP (NYSE: WES) is a midstream energy infrastructure company that owns, operates and develops an integrated network of crude oil, natural gas and produced water gathering, processing, transportation and storage assets in the United States. The partnership’s primary offerings include pipeline transportation, fractionation services, natural gas liquids (NGL) logistics and produced water handling. Through its fee-based and commodity-based contracts, Western Midstream provides its customers with essential services that support efficient energy production and distribution.

The company’s asset portfolio spans key onshore basins, including the Delaware Basin in West Texas and southeastern New Mexico, the San Juan Basin in New Mexico and Colorado, and the Denver-Julesburg Basin in Colorado.

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