Western Midstream Partners (NYSE:WES) Stock Rating Upgraded by StockNews.com

Western Midstream Partners (NYSE:WES) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

WES has been the subject of a number of other reports. UBS Group reduced their target price on shares of 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. Royal Bank of Canada reissued a “sector perform” rating and issued a $41.00 price objective on shares of Western Midstream Partners in a research report on Monday, December 9th. Finally, US Capital Advisors raised shares of Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 26th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $38.43.

Western Midstream Partners Stock Performance

Shares of WES opened at $38.94 on Friday. The firm has a market cap of $14.85 billion, a P/E ratio of 9.93, a PEG ratio of 1.40 and a beta of 2.88. Western Midstream Partners has a twelve month low of $33.39 and a twelve month high of $43.33. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.11 and a current ratio of 1.11. The firm’s 50 day moving average price is $40.46 and its two-hundred day moving average price is $39.23.

Institutional Trading of Western Midstream Partners

A number of hedge funds have recently made changes to their positions in the business. Stifel Financial Corp raised its stake in Western Midstream Partners by 42.1% in the 3rd quarter. Stifel Financial Corp now owns 108,367 shares of the pipeline company’s stock valued at $4,146,000 after acquiring an additional 32,119 shares during the period. BNP Paribas Financial Markets raised its position in shares of Western Midstream Partners by 6.5% in the third quarter. BNP Paribas Financial Markets now owns 996,018 shares of the pipeline company’s stock valued at $38,108,000 after purchasing an additional 60,603 shares during the period. MAI Capital Management lifted its stake in shares of Western Midstream Partners by 293.1% during the 3rd quarter. MAI Capital Management now owns 29,878 shares of the pipeline company’s stock worth $1,143,000 after buying an additional 22,277 shares during the last quarter. Citigroup Inc. boosted its holdings in shares of Western Midstream Partners by 322.1% during the 3rd quarter. Citigroup Inc. now owns 406,587 shares of the pipeline company’s stock worth $15,556,000 after buying an additional 310,260 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in Western Midstream Partners by 60.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,785,105 shares of the pipeline company’s stock valued at $68,298,000 after buying an additional 670,440 shares during the last quarter. 84.82% of the stock is owned by institutional investors and hedge funds.

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.