Western Midstream Partners, LP (NYSE:WES) Receives Consensus Rating of “Reduce” from Brokerages

Shares of Western Midstream Partners, LP (NYSE:WES) have been assigned a consensus rating of “Reduce” from the nine analysts that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $38.43.

WES has been the subject of several research analyst reports. US Capital Advisors raised shares of Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. StockNews.com downgraded shares of Western Midstream Partners from a “buy” rating to a “hold” rating in a report on Friday, February 28th. UBS Group reduced their target price on Western Midstream Partners from $40.00 to $37.00 and set a “neutral” rating on the stock in a report on Friday, November 15th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $41.00 target price on shares of Western Midstream Partners in a research report on Monday, December 9th.

Western Midstream Partners Trading Down 1.5 %

Shares of WES opened at $37.78 on Friday. The firm has a market cap of $14.41 billion, a P/E ratio of 9.64, a price-to-earnings-growth ratio of 1.40 and a beta of 2.88. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.11 and a quick ratio of 1.11. Western Midstream Partners has a 1 year low of $33.39 and a 1 year high of $43.33. The company has a 50 day simple moving average of $40.48 and a two-hundred day simple moving average of $39.24.

Western Midstream Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were given a $0.875 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $3.50 annualized dividend and a yield of 9.26%. Western Midstream Partners’s dividend payout ratio is currently 86.85%.

Institutional Investors Weigh In On Western Midstream Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WES. Private Advisor Group LLC increased its position in shares of Western Midstream Partners by 9.6% during the 3rd quarter. Private Advisor Group LLC now owns 6,066 shares of the pipeline company’s stock valued at $232,000 after purchasing an additional 531 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in Western Midstream Partners by 287.3% during the third quarter. Farther Finance Advisors LLC now owns 1,437 shares of the pipeline company’s stock worth $55,000 after buying an additional 1,066 shares during the period. Concurrent Investment Advisors LLC increased its position in Western Midstream Partners by 6.2% during the third quarter. Concurrent Investment Advisors LLC now owns 6,053 shares of the pipeline company’s stock valued at $232,000 after acquiring an additional 352 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Western Midstream Partners in the third quarter valued at $119,000. Finally, Oppenheimer Asset Management Inc. raised its stake in shares of Western Midstream Partners by 88.4% in the third quarter. Oppenheimer Asset Management Inc. now owns 56,961 shares of the pipeline company’s stock valued at $2,179,000 after acquiring an additional 26,725 shares during the period. 84.82% of the stock is currently owned by hedge funds and other institutional investors.

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.