Western Midstream Partners, LP (NYSE:WES) Given Average Recommendation of “Reduce” by Brokerages

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

A number of equities analysts have recently weighed in on WES shares. StockNews.com raised shares of Western Midstream Partners from a “hold” rating to a “buy” rating in a research report on Saturday, March 8th. 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.

Western Midstream Partners Stock Performance

NYSE WES opened at $40.94 on Tuesday. The stock has a market cap of $15.61 billion, a price-to-earnings ratio of 10.44, a price-to-earnings-growth ratio of 1.40 and a beta of 2.88. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.05. The business has a fifty day moving average of $40.83 and a 200-day moving average of $39.59. Western Midstream Partners has a fifty-two week low of $33.64 and a fifty-two week high of $43.33.

Western Midstream Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were issued a dividend of $0.875 per share. This represents a $3.50 annualized dividend and a dividend yield of 8.55%. The ex-dividend date was Monday, February 3rd. Western Midstream Partners’s dividend payout ratio is 86.85%.

Institutional Investors Weigh In On Western Midstream Partners

Large investors have recently made changes to their positions in the company. Cerity Partners LLC increased its holdings in shares of Western Midstream Partners by 55.2% in the 3rd quarter. Cerity Partners LLC now owns 29,878 shares of the pipeline company’s stock valued at $1,143,000 after purchasing an additional 10,624 shares during the period. HighTower Advisors LLC grew its position in shares of Western Midstream Partners by 14.5% in the third quarter. HighTower Advisors LLC now owns 94,599 shares of the pipeline company’s stock valued at $3,619,000 after purchasing an additional 11,974 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of Western Midstream Partners during the third quarter worth approximately $250,000. Millburn Ridgefield Corp acquired a new position in Western Midstream Partners during the 3rd quarter valued at $86,000. Finally, Recurrent Investment Advisors LLC raised its position in shares of Western Midstream Partners by 5.4% during the third quarter. Recurrent Investment Advisors LLC now owns 1,397,140 shares of the pipeline company’s stock valued at $53,455,000 after buying an additional 71,210 shares during the last quarter. Institutional investors and hedge funds 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.