Western Midstream Partners, LP (NYSE:WES) Receives Average Recommendation of “Reduce” from Analysts

Western Midstream Partners, LP (NYSE:WES) has received a consensus rating of “Reduce” from the eight ratings firms that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $38.43.

A number of equities analysts have issued reports on WES shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $41.00 price objective on shares of Western Midstream Partners in a research note on Monday, December 9th. StockNews.com raised Western Midstream Partners from a “hold” rating to a “buy” rating in a research note on Saturday, March 8th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Penbrook Management LLC raised its position in shares of Western Midstream Partners by 81.3% during the first quarter. Penbrook Management LLC now owns 11,600 shares of the pipeline company’s stock worth $475,000 after purchasing an additional 5,200 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in Western Midstream Partners by 29.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 42,294 shares of the pipeline company’s stock worth $1,625,000 after buying an additional 9,506 shares during the period. Novem Group acquired a new stake in Western Midstream Partners during the 4th quarter worth approximately $695,000. State of Wyoming lifted its stake in Western Midstream Partners by 40.6% in the fourth quarter. State of Wyoming now owns 3,323 shares of the pipeline company’s stock valued at $128,000 after buying an additional 960 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Western Midstream Partners by 23.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,273,186 shares of the pipeline company’s stock valued at $279,509,000 after buying an additional 1,366,341 shares during the period. 84.82% of the stock is currently owned by institutional investors.

Western Midstream Partners Stock Performance

Western Midstream Partners stock opened at $37.06 on Tuesday. Western Midstream Partners has a 1 year low of $33.64 and a 1 year high of $43.33. The company’s 50-day moving average is $40.63 and its two-hundred day moving average is $39.59. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.05. The company has a market cap of $14.13 billion, a PE ratio of 9.45, a PEG ratio of 1.40 and a beta of 2.40.

Western Midstream Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were given a dividend of $0.875 per share. The ex-dividend date was Monday, February 3rd. This represents a $3.50 dividend on an annualized basis and a dividend yield of 9.45%. Western Midstream Partners’s dividend payout ratio is 86.85%.

Western Midstream Partners Company Profile

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.