Western Midstream Partners, LP (NYSE:WES) Receives $38.43 Average Target Price from Brokerages

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

A number of equities research analysts recently weighed in on WES shares. US Capital Advisors upgraded Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 26th. Royal Bank of Canada restated a “sector perform” rating and issued a $41.00 price target on shares of Western Midstream Partners in a report on Monday, December 9th. StockNews.com upgraded Western Midstream Partners from a “hold” rating to a “buy” rating in a report on Saturday. Finally, UBS Group lowered 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.

Western Midstream Partners Stock Performance

WES opened at $40.65 on Friday. The stock has a market cap of $15.50 billion, a P/E ratio of 10.37, a P/E/G 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. The stock’s 50 day simple moving average is $40.49 and its 200 day simple moving average is $39.27. Western Midstream Partners has a 1-year low of $33.42 and a 1-year high of $43.33.

Western Midstream Partners Announces Dividend

The firm also recently disclosed 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 8.61%. The ex-dividend date of this dividend was Monday, February 3rd. Western Midstream Partners’s dividend payout ratio (DPR) is 86.85%.

Institutional Investors Weigh In On Western Midstream Partners

Several hedge funds have recently made changes to their positions in the business. Invesco Ltd. boosted its holdings in shares of Western Midstream Partners by 6.6% during the fourth quarter. Invesco Ltd. now owns 22,809,161 shares of the pipeline company’s stock worth $876,556,000 after purchasing an additional 1,406,362 shares during the last quarter. Tortoise Capital Advisors L.L.C. raised its position in shares of Western Midstream Partners by 2.0% in the 4th quarter. Tortoise Capital Advisors L.L.C. now owns 8,064,089 shares of the pipeline company’s stock worth $309,903,000 after buying an additional 159,016 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Western Midstream Partners by 23.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,273,186 shares of the pipeline company’s stock worth $279,509,000 after buying an additional 1,366,341 shares during the period. Chickasaw Capital Management LLC raised its position in shares of Western Midstream Partners by 1.5% in the 4th quarter. Chickasaw Capital Management LLC now owns 6,755,387 shares of the pipeline company’s stock worth $259,610,000 after buying an additional 99,518 shares during the period. Finally, Kayne Anderson Capital Advisors LP raised its position in shares of Western Midstream Partners by 23.5% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 6,228,448 shares of the pipeline company’s stock worth $238,300,000 after buying an additional 1,184,597 shares during the period. 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.