Western Midstream Partners (NYSE:WES) has been given a $26.00 target price by stock analysts at Barclays in a report issued on Tuesday, TipRanks reports. The firm currently has a “hold” rating on the pipeline company’s stock. Barclays‘s price target suggests a potential upside of 11.83% from the stock’s previous close.
A number of other research firms have also recently issued reports on WES. JPMorgan Chase & Co. cut Western Midstream Partners from an “overweight” rating to a “neutral” rating and cut their target price for the company from $40.00 to $31.00 in a research note on Tuesday, August 13th. Mitsubishi UFJ Financial Group reiterated a “neutral” rating and issued a $37.00 target price (down from $42.00) on shares of Western Midstream Partners in a research note on Thursday, August 1st. Bank of America cut their target price on Western Midstream Partners from $35.00 to $29.00 and set a “neutral” rating on the stock in a research note on Thursday, August 15th. ValuEngine upgraded Western Midstream Partners from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Finally, Scotiabank assumed coverage on Western Midstream Partners in a research note on Tuesday, September 3rd. They issued a “sector perform” rating and a $28.00 target price on the stock. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $34.31.
WES stock traded down $0.35 during mid-day trading on Tuesday, reaching $23.25. The company had a trading volume of 36,600 shares, compared to its average volume of 2,102,192. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.15. The stock has a market capitalization of $10.71 billion, a P/E ratio of 9.35, a P/E/G ratio of 2.31 and a beta of 1.45. Western Midstream Partners has a one year low of $21.92 and a one year high of $35.75. The stock’s 50-day simple moving average is $24.55 and its two-hundred day simple moving average is $28.39.
Western Midstream Partners (NYSE:WES) last posted its earnings results on Tuesday, July 30th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.27). The company had revenue of $685.10 million during the quarter, compared to the consensus estimate of $709.39 million. Western Midstream Partners had a net margin of 18.98% and a return on equity of 14.63%. The business’s quarterly revenue was up 32.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.32) earnings per share. On average, research analysts forecast that Western Midstream Partners will post 1.69 EPS for the current fiscal year.
In other news, Director David J. Tudor sold 5,000 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $27.00, for a total transaction of $135,000.00. 0.01% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC grew its holdings in Western Midstream Partners by 83.4% during the first quarter. FMR LLC now owns 320,105 shares of the pipeline company’s stock worth $10,038,000 after acquiring an additional 145,604 shares during the period. First Trust Advisors LP acquired a new position in Western Midstream Partners during the first quarter worth about $5,321,000. XR Securities LLC acquired a new position in Western Midstream Partners during the second quarter worth about $212,000. Adams Asset Advisors LLC grew its holdings in Western Midstream Partners by 52.5% during the second quarter. Adams Asset Advisors LLC now owns 29,245 shares of the pipeline company’s stock worth $899,000 after acquiring an additional 10,068 shares during the period. Finally, Dividend Assets Capital LLC grew its holdings in Western Midstream Partners by 16.0% during the second quarter. Dividend Assets Capital LLC now owns 396,101 shares of the pipeline company’s stock worth $12,188,000 after acquiring an additional 54,549 shares during the period. 41.01% of the stock is currently owned by institutional investors.
Western Midstream Partners Company Profile
Western Midstream Partners, LP, together with its subsidiaries, engages in gathering, processing, compressing, treating, stabilizing, and transporting natural gas, condensate, natural gas liquids, and crude oil primarily in the United States. It is also involved in the gathering and disposing of produced water; and buying and selling of natural gas.
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