Several other research firms have also issued reports on WES. Stifel Nicolaus upped their target price on Western Midstream Partners from $39.00 to $40.00 and gave the company a "hold" rating in a report on Friday, August 9th. Bank of America initiated coverage on Western Midstream Partners in a research report on Thursday. They set an "underperform" rating and a $37.00 target price for the company. Morgan Stanley cut Western Midstream Partners from an "overweight" rating to an "equal weight" rating and set a $42.00 target price on the stock. in a research note on Monday, September 16th. Royal Bank of Canada increased their price target on shares of Western Midstream Partners from $38.00 to $41.00 and gave the company a "sector perform" rating in a research report on Wednesday. Finally, UBS Group lifted their price objective on shares of Western Midstream Partners from $38.00 to $39.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Western Midstream Partners currently has a consensus rating of "Hold" and a consensus target price of $38.38.
View Our Latest Research Report on Western Midstream Partners
WES stock opened at $38.72 on Friday. The firm has a market capitalization of $14.73 billion, a PE ratio of 10.91, a P/E/G ratio of 0.75 and a beta of 2.87. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.08. Western Midstream Partners has a twelve month low of $26.49 and a twelve month high of $42.80. The stock's 50 day moving average is $38.58 and its 200-day moving average is $38.26.
Western Midstream Partners (NYSE:WES - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.09. Western Midstream Partners had a return on equity of 47.19% and a net margin of 44.01%. The business had revenue of $905.63 million for the quarter, compared to analysts' expectations of $904.94 million. During the same period last year, the business earned $0.64 EPS. The business's revenue was up 22.7% on a year-over-year basis. Sell-side analysts expect that Western Midstream Partners will post 4.15 EPS for the current fiscal year.
In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the company's stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the sale, the insider now directly owns 165,681,578 shares in the company, valued at approximately $5,923,116,413.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.04% of the company's stock.
Several hedge funds have recently made changes to their positions in the stock. Cyndeo Wealth Partners LLC purchased a new stake in Western Midstream Partners during the 3rd quarter worth about $251,000. Bleakley Financial Group LLC grew its holdings in Western Midstream Partners by 5.8% during the 3rd quarter. Bleakley Financial Group LLC now owns 5,711 shares of the pipeline company's stock valued at $218,000 after buying an additional 311 shares in the last quarter. Cedar Mountain Advisors LLC increased its position in shares of Western Midstream Partners by 16.1% during the third quarter. Cedar Mountain Advisors LLC now owns 2,158 shares of the pipeline company's stock valued at $83,000 after buying an additional 299 shares during the period. Exchange Traded Concepts LLC lifted its holdings in shares of Western Midstream Partners by 3.2% in the third quarter. Exchange Traded Concepts LLC now owns 231,872 shares of the pipeline company's stock worth $8,871,000 after buying an additional 7,111 shares in the last quarter. Finally, Inspire Investing LLC lifted its holdings in shares of Western Midstream Partners by 7.4% in the third quarter. Inspire Investing LLC now owns 21,890 shares of the pipeline company's stock worth $838,000 after buying an additional 1,502 shares in the last quarter. 42.94% of the stock is currently owned by hedge funds and other institutional investors.
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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