Shares of Western Midstream Partners LP (NYSE:WES) have earned an average rating of “Hold” from the twelve brokerages that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $43.78.

Several research firms have issued reports on WES. ValuEngine raised shares of Western Midstream Partners from a “sell” rating to a “hold” rating in a research report on Saturday, April 13th. Mitsubishi UFJ Financial Group lowered their price objective on shares of Western Midstream Partners from $55.00 to $42.00 and set an “overweight” rating for the company in a research report on Monday, April 15th. Barclays began coverage on shares of Western Midstream Partners in a research report on Friday, March 22nd. They issued an “equal weight” rating and a $34.00 price objective for the company. Citigroup reissued a “buy” rating and issued a $35.00 price objective on shares of Western Midstream Partners in a research report on Tuesday, April 9th. Finally, Mizuho assumed coverage on shares of Western Midstream Partners in a research report on Friday, June 14th. They issued a “buy” rating and a $34.00 price objective for the company.

Several institutional investors and hedge funds have recently made changes to their positions in WES. Neuberger Berman Group LLC lifted its position in shares of Western Midstream Partners by 504.6% in the 1st quarter. Neuberger Berman Group LLC now owns 13,849,579 shares of the pipeline company’s stock worth $434,323,000 after purchasing an additional 11,558,966 shares during the period. Tortoise Capital Advisors L.L.C. lifted its position in Western Midstream Partners by 71.1% during the first quarter. Tortoise Capital Advisors L.L.C. now owns 27,003,514 shares of the pipeline company’s stock valued at $846,830,000 after acquiring an additional 11,224,350 shares during the last quarter. Alps Advisors Inc. lifted its position in Western Midstream Partners by 91.6% during the first quarter. Alps Advisors Inc. now owns 19,070,424 shares of the pipeline company’s stock valued at $598,048,000 after acquiring an additional 9,115,972 shares during the last quarter. Chickasaw Capital Management LLC lifted its position in Western Midstream Partners by 236.4% during the first quarter. Chickasaw Capital Management LLC now owns 9,307,744 shares of the pipeline company’s stock valued at $291,891,000 after acquiring an additional 6,540,816 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Western Midstream Partners by 84.4% during the first quarter. JPMorgan Chase & Co. now owns 6,598,326 shares of the pipeline company’s stock valued at $206,923,000 after acquiring an additional 3,020,395 shares during the last quarter. 41.13% of the stock is owned by hedge funds and other institutional investors.

NYSE:WES traded up $0.65 during mid-day trading on Tuesday, hitting $30.02. 77,788 shares of the stock traded hands, compared to its average volume of 888,806. The stock has a market cap of $13.02 billion, a PE ratio of 11.93, a price-to-earnings-growth ratio of 2.09 and a beta of 1.48. Western Midstream Partners has a 52 week low of $25.89 and a 52 week high of $37.69. The stock has a 50 day moving average price of $29.58. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 1.45.

Western Midstream Partners (NYSE:WES) last released its quarterly earnings data on Tuesday, April 30th. The pipeline company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.17). The company had revenue of $671.88 million during the quarter, compared to analysts’ expectations of $622.45 million. Western Midstream Partners had a net margin of 16.47% and a return on equity of 11.61%. Western Midstream Partners’s quarterly revenue was up 34.1% on a year-over-year basis. During the same period last year, the firm earned $0.46 earnings per share. Research analysts predict that Western Midstream Partners will post 2.3 EPS 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.

See Also: Leveraged Buyout (LBO)

Analyst Recommendations for Western Midstream Partners (NYSE:WES)

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