Western Midstream Partners (NYSE:WES) Receives New Coverage from Analysts at StockNews.com

Equities research analysts at StockNews.com began coverage on shares of Western Midstream Partners (NYSE:WES – Get Rating) in a report issued on Thursday. The brokerage set a “buy” rating on the pipeline company’s stock.

A number of other research firms have also recently issued reports on WES. Morgan Stanley raised their target price on shares of Western Midstream Partners from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Monday, January 9th. Mizuho raised their target price on shares of Western Midstream Partners from $33.00 to $35.00 and gave the stock a “buy” rating in a research note on Tuesday, January 31st. Citigroup cut their target price on shares of Western Midstream Partners from $33.00 to $32.00 and set a “buy” rating for the company in a research note on Monday, February 27th. Barclays raised their target price on shares of Western Midstream Partners from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 18th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Western Midstream Partners from $35.00 to $33.00 and set an “overweight” rating for the company in a research note on Monday, January 23rd. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Western Midstream Partners presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.00.

Western Midstream Partners Stock Performance

Shares of WES opened at $24.52 on Thursday. The firm has a 50-day moving average of $27.28 and a 200-day moving average of $27.01. Western Midstream Partners has a one year low of $21.95 and a one year high of $29.50. The company has a market cap of $9.44 billion, a PE ratio of 8.17 and a beta of 2.79. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.00 and a quick ratio of 1.00.

Western Midstream Partners (NYSE:WES – Get Rating) last announced its quarterly earnings data on Wednesday, February 22nd. The pipeline company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.13. The company had revenue of $779.40 million during the quarter, compared to the consensus estimate of $800.50 million. Western Midstream Partners had a net margin of 37.22% and a return on equity of 38.15%. The company’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.58 EPS. As a group, equities analysts forecast that Western Midstream Partners will post 2.89 earnings per share for the current year.

Hedge Funds Weigh In On Western Midstream Partners

Hedge funds and other institutional investors have recently made changes to their positions in the company. SeaCrest Wealth Management LLC acquired a new position in shares of Western Midstream Partners in the 2nd quarter valued at approximately $26,000. Money Concepts Capital Corp acquired a new position in shares of Western Midstream Partners in the 4th quarter valued at approximately $46,000. Parkwood LLC raised its position in shares of Western Midstream Partners by 77.8% in the 2nd quarter. Parkwood LLC now owns 56,155 shares of the pipeline company’s stock valued at $56,000 after buying an additional 24,570 shares in the last quarter. CoreCap Advisors LLC acquired a new position in shares of Western Midstream Partners in the 2nd quarter valued at approximately $58,000. Finally, New Millennium Group LLC acquired a new position in shares of Western Midstream Partners in the 2nd quarter valued at approximately $80,000. 91.96% of the stock is currently owned by institutional investors and hedge funds.

About Western Midstream Partners

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Western Midstream Partners LP engages in the ownership, operation, acquisition, and development of midstream energy assets. It engages in the business of gathering, processing, compressing, treating, and transporting natural gas, condensate, natural gas liquids, and crude oil for Anadarko, as well as third-party producers and customers.