Western Midstream Partners (NYSE:WES) Given New $39.00 Price Target at UBS Group

Western Midstream Partners (NYSE:WES) had its target price lifted by UBS Group from $38.00 to $39.00 in a research report released on Wednesday morning, Benzinga reports. They currently have a neutral rating on the pipeline company’s stock.

Other research analysts also recently issued research reports about the stock. Wells Fargo & Company upped their target price on shares of Western Midstream Partners from $34.00 to $35.00 and gave the stock an equal weight rating in a report on Tuesday, May 21st. Stifel Nicolaus upped their target price on shares of Western Midstream Partners from $39.00 to $40.00 and gave the stock a hold rating in a report on Friday, August 9th. Morgan Stanley cut shares of Western Midstream Partners from an overweight rating to an equal weight rating and set a $42.00 price target on the stock. in a research note on Monday, September 16th. StockNews.com lowered Western Midstream Partners from a strong-buy rating to a buy rating in a research report on Tuesday. Finally, Royal Bank of Canada raised their price objective on Western Midstream Partners from $36.00 to $38.00 and gave the company a sector perform rating in a research report on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $36.75.

Western Midstream Partners Trading Down 0.7 %

Shares of Western Midstream Partners stock opened at $38.72 on Wednesday. The company has a market capitalization of $14.73 billion, a P/E ratio of 10.91, a P/E/G ratio of 0.75 and a beta of 2.87. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.68 and a current ratio of 1.68. The company has a fifty day moving average of $39.21 and a 200 day moving average of $37.65. Western Midstream Partners has a fifty-two week low of $26.14 and a fifty-two week high of $42.80.

Western Midstream Partners (NYSE:WES) last issued its earnings results on Wednesday, August 7th. The pipeline company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.09. The company had revenue of $905.63 million during the quarter, compared to the consensus estimate of $904.94 million. Western Midstream Partners had a net margin of 44.01% and a return on equity of 47.19%. Western Midstream Partners’s quarterly revenue was up 22.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.64 EPS. On average, sell-side analysts anticipate that Western Midstream Partners will post 4.16 earnings per share for the current fiscal year.

Western Midstream Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 1st were issued a $0.875 dividend. This represents a $3.50 dividend on an annualized basis and a dividend yield of 9.04%. The ex-dividend date of this dividend was Thursday, August 1st. Western Midstream Partners’s payout ratio is 98.59%.

Insider Activity at Western Midstream Partners

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total value of $697,125,000.00. Following the completion of the transaction, the insider now owns 165,681,578 shares of the company’s stock, valued at approximately $5,923,116,413.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.04% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Eagle Bay Advisors LLC purchased a new position in shares of Western Midstream Partners during the first quarter valued at approximately $29,000. American National Bank boosted its holdings in Western Midstream Partners by 34.5% during the 1st quarter. American National Bank now owns 1,190 shares of the pipeline company’s stock valued at $42,000 after acquiring an additional 305 shares during the period. Retirement Group LLC grew its position in Western Midstream Partners by 40.2% in the 1st quarter. Retirement Group LLC now owns 1,591 shares of the pipeline company’s stock valued at $57,000 after acquiring an additional 456 shares during the last quarter. EverSource Wealth Advisors LLC purchased a new stake in Western Midstream Partners in the second quarter worth $74,000. Finally, Triad Wealth Partners LLC bought a new stake in shares of Western Midstream Partners during the second quarter worth $78,000. Institutional investors own 42.94% 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.