Western Midstream Partners (NYSE:WES) Price Target Raised to $42.00

by · The Cerbat Gem

Western Midstream Partners (NYSE:WES – Free Report) had its target price upped by Royal Bank Of Canada from $39.00 to $42.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has a sector perform rating on the pipeline company’s stock.

A number of other research firms have also recently weighed in on WES. Wells Fargo & Company raised their price target on Western Midstream Partners from $38.00 to $40.00 and gave the company an “equal weight” rating in a research note on Thursday, November 13th. Mizuho raised their target price on Western Midstream Partners from $44.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, August 29th. Citigroup assumed coverage on Western Midstream Partners in a research note on Monday, October 20th. They set a “neutral” rating and a $39.00 target price for the company. Morgan Stanley dropped their price target on shares of Western Midstream Partners from $41.00 to $39.00 and set an “underweight” rating on the stock in a research note on Tuesday, August 26th. Finally, Stifel Nicolaus set a $43.00 price objective on shares of Western Midstream Partners in a report on Thursday, November 6th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Western Midstream Partners has an average rating of “Hold” and an average target price of $41.50.

Check Out Our Latest Stock Report on Western Midstream Partners

Western Midstream Partners Stock Up 1.2%

Shares of Western Midstream Partners stock opened at $39.47 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 2.08. Western Midstream Partners has a 52-week low of $33.60 and a 52-week high of $43.33. The company has a market capitalization of $16.10 billion, a P/E ratio of 12.14 and a beta of 1.14. The company has a 50 day moving average of $38.57 and a 200 day moving average of $38.72.

Western Midstream Partners (NYSE:WES – Get Free Report) last announced its quarterly earnings data on Tuesday, November 4th. The pipeline company reported $0.87 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.87. The business had revenue of $952.48 million for the quarter, compared to analyst estimates of $965.55 million. Western Midstream Partners had a net margin of 34.45% and a return on equity of 37.70%. The company’s revenue was up 7.8% on a year-over-year basis. During the same period last year, the business earned $0.74 EPS. As a group, research analysts forecast that Western Midstream Partners will post 4.02 EPS for the current fiscal year.

Western Midstream Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 31st were issued a dividend of $0.91 per share. The ex-dividend date of this dividend was Friday, October 31st. This represents a $3.64 annualized dividend and a dividend yield of 9.2%. Western Midstream Partners’s dividend payout ratio (DPR) is currently 107.69%.

Institutional Trading of Western Midstream Partners

A number of institutional investors have recently modified their holdings of WES. Daymark Wealth Partners LLC boosted its stake in Western Midstream Partners by 0.6% during the 2nd quarter. Daymark Wealth Partners LLC now owns 45,774 shares of the pipeline company’s stock valued at $1,771,000 after acquiring an additional 268 shares during the last quarter. Apollon Wealth Management LLC lifted its holdings in shares of Western Midstream Partners by 1.0% in the 2nd quarter. Apollon Wealth Management LLC now owns 26,382 shares of the pipeline company’s stock worth $1,021,000 after purchasing an additional 269 shares during the last quarter. HB Wealth Management LLC boosted its position in Western Midstream Partners by 4.0% during the 3rd quarter. HB Wealth Management LLC now owns 7,900 shares of the pipeline company’s stock valued at $310,000 after purchasing an additional 304 shares during the period. Jaffetilchin Investment Partners LLC boosted its position in Western Midstream Partners by 6.4% during the 2nd quarter. Jaffetilchin Investment Partners LLC now owns 5,201 shares of the pipeline company’s stock valued at $201,000 after purchasing an additional 312 shares during the period. Finally, Bollard Group LLC grew its stake in Western Midstream Partners by 2.4% during the 3rd quarter. Bollard Group LLC now owns 15,517 shares of the pipeline company’s stock worth $610,000 after buying an additional 359 shares during the last quarter. 84.82% of the stock is currently owned by hedge funds and other institutional investors.

Western Midstream Partners Company Profile

(Get Free Report)

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.

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