Western Midstream Partners (NYSE:WES) Downgraded to “Hold” Rating by StockNews.com

StockNews.com cut shares of Western Midstream Partners (NYSE:WES) from a buy rating to a hold rating in a research report report published on Friday.

Other analysts also recently issued research reports about the company. US Capital Advisors upgraded Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 26th. Royal Bank of Canada restated a “sector perform” rating and set a $41.00 target price on shares of Western Midstream Partners in a report on Monday, December 9th. Finally, UBS Group decreased their target price on Western Midstream Partners from $40.00 to $37.00 and set a “neutral” rating for the company in a report on Friday, November 15th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $38.43.

Western Midstream Partners Stock Performance

NYSE:WES opened at $40.54 on Friday. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.11 and a quick ratio of 1.11. The business has a 50 day moving average of $40.48 and a 200 day moving average of $39.19. The company has a market capitalization of $15.43 billion, a price-to-earnings ratio of 10.34, a PEG ratio of 1.40 and a beta of 2.88. Western Midstream Partners has a 1-year low of $33.25 and a 1-year high of $43.33.

Western Midstream Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a $0.875 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $3.50 dividend on an annualized basis and a yield of 8.63%. Western Midstream Partners’s dividend payout ratio (DPR) is 86.85%.

Institutional Investors Weigh In On Western Midstream Partners

Institutional investors have recently modified their holdings of the stock. Cary Street Partners Financial LLC purchased a new stake in shares of Western Midstream Partners in the fourth quarter worth $39,000. Harbour Investments Inc. grew its stake in shares of Western Midstream Partners by 555.6% in the fourth quarter. Harbour Investments Inc. now owns 1,180 shares of the pipeline company’s stock worth $45,000 after acquiring an additional 1,000 shares during the last quarter. Global Retirement Partners LLC purchased a new stake in shares of Western Midstream Partners in the fourth quarter worth $51,000. Empowered Funds LLC purchased a new stake in shares of Western Midstream Partners in the fourth quarter worth $53,000. Finally, Farther Finance Advisors LLC grew its stake in shares of Western Midstream Partners by 287.3% in the third quarter. Farther Finance Advisors LLC now owns 1,437 shares of the pipeline company’s stock worth $55,000 after acquiring an additional 1,066 shares during the last quarter. 84.82% of the stock is 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.