Royal Bank of Canada Reaffirms “Sector Perform” Rating for Western Midstream Partners (NYSE:WES)

Western Midstream Partners (NYSE:WES)‘s stock had its “sector perform” rating restated by equities researchers at Royal Bank of Canada in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $41.00 target price on the pipeline company’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 5.72% from the company’s current price.

Several other research analysts also recently commented on WES. US Capital Advisors raised Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 26th. StockNews.com cut Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, October 28th. UBS Group lowered their target price on Western Midstream Partners from $40.00 to $37.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. Morgan Stanley downgraded shares of Western Midstream Partners from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $42.00 to $40.00 in a research report on Friday, October 25th. Finally, Bank of America initiated coverage on shares of Western Midstream Partners in a research report on Thursday, October 17th. They issued an “underperform” rating and a $37.00 price objective for the company. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Western Midstream Partners currently has a consensus rating of “Hold” and an average price target of $37.88.

Western Midstream Partners Stock Down 2.0 %

NYSE WES opened at $38.78 on Monday. Western Midstream Partners has a 1-year low of $26.81 and a 1-year high of $42.80. The company has a market capitalization of $14.76 billion, a price-to-earnings ratio of 9.89, a PEG ratio of 1.09 and a beta of 2.90. The stock’s 50 day moving average is $38.51 and its two-hundred day moving average is $38.87. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.05.

Western Midstream Partners (NYSE:WES) last posted its earnings results on Wednesday, November 6th. The pipeline company reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.09). The firm had revenue of $883.36 million during the quarter, compared to the consensus estimate of $924.83 million. Western Midstream Partners had a return on equity of 46.02% and a net margin of 42.99%. The firm’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.70 EPS. Equities analysts forecast that Western Midstream Partners will post 4.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Comerica Bank lifted its holdings in Western Midstream Partners by 16.0% during the first quarter. Comerica Bank now owns 11,429 shares of the pipeline company’s stock worth $406,000 after acquiring an additional 1,580 shares in the last quarter. Simplicity Wealth LLC acquired a new position in shares of Western Midstream Partners in the 2nd quarter valued at approximately $215,000. Sequoia Financial Advisors LLC bought a new stake in Western Midstream Partners during the 2nd quarter worth approximately $219,000. Wealth Enhancement Advisory Services LLC raised its holdings in Western Midstream Partners by 113.1% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 30,722 shares of the pipeline company’s stock worth $1,221,000 after buying an additional 16,304 shares during the period. Finally, Archford Capital Strategies LLC bought a new position in Western Midstream Partners in the second quarter valued at approximately $215,000. Institutional investors own 84.82% of the company’s stock.

About Western Midstream Partners

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.