Western Midstream Partners (NYSE:WES) PT Raised to $39.00 at Mizuho

Western Midstream Partners (NYSE:WES) had its target price raised by equities researchers at Mizuho from $34.00 to $39.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the pipeline company’s stock. Mizuho’s price objective indicates a potential upside of 9.86% from the stock’s current price.

A number of other research analysts have also commented on the company. Wolfe Research raised Western Midstream Partners from an “underperform” rating to a “peer perform” rating in a report on Thursday, April 18th. Stifel Nicolaus increased their target price on Western Midstream Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Citigroup lowered Western Midstream Partners from a “buy” rating to a “neutral” rating and increased their target price for the stock from $30.00 to $34.00 in a report on Thursday, February 29th. Finally, Raymond James reissued a “market perform” rating on shares of Western Midstream Partners in a report on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $31.09.

Western Midstream Partners Stock Down 0.4 %

WES opened at $35.50 on Tuesday. Western Midstream Partners has a 1-year low of $25.04 and a 1-year high of $36.79. The stock’s fifty day simple moving average is $34.96 and its 200 day simple moving average is $30.86. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 2.40. The stock has a market cap of $13.51 billion, a PE ratio of 13.65 and a beta of 2.82.

Western Midstream Partners (NYSE:WES) last issued its quarterly earnings data on Wednesday, February 21st. The pipeline company reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.04). Western Midstream Partners had a net margin of 32.72% and a return on equity of 33.58%. The firm had revenue of $858.21 million during the quarter, compared to analyst estimates of $850.23 million. During the same period in the prior year, the company earned $0.85 earnings per share. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. As a group, research analysts expect that Western Midstream Partners will post 3.42 earnings per share for the current year.

Insider Buying and Selling at Western Midstream Partners

In other news, Director Lisa A. Stewart bought 2,500 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was purchased at an average cost of $34.87 per share, for a total transaction of $87,175.00. Following the completion of the transaction, the director now owns 30,730 shares of the company’s stock, valued at $1,071,555.10. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Kenneth F. Owen acquired 7,000 shares of the stock in a transaction dated Monday, February 26th. The stock was bought at an average cost of $33.96 per share, for a total transaction of $237,720.00. Following the completion of the transaction, the director now directly owns 32,730 shares of the company’s stock, valued at $1,111,510.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lisa A. Stewart acquired 2,500 shares of the stock in a transaction dated Wednesday, March 6th. The shares were bought at an average price of $34.87 per share, with a total value of $87,175.00. Following the completion of the transaction, the director now directly owns 30,730 shares of the company’s stock, valued at $1,071,555.10. The disclosure for this purchase can be found here. Corporate insiders own 0.04% of the company’s stock.

Hedge Funds Weigh In On Western Midstream Partners

A number of hedge funds have recently made changes to their positions in WES. Larson Financial Group LLC acquired a new stake in Western Midstream Partners during the third quarter worth approximately $27,000. American National Bank grew its stake in Western Midstream Partners by 34.5% during the first quarter. American National Bank now owns 1,190 shares of the pipeline company’s stock worth $42,000 after purchasing an additional 305 shares during the period. Fortitude Family Office LLC acquired a new stake in Western Midstream Partners during the fourth quarter worth approximately $43,000. Retirement Group LLC grew its stake in Western Midstream Partners by 40.2% during the first quarter. Retirement Group LLC now owns 1,591 shares of the pipeline company’s stock worth $57,000 after purchasing an additional 456 shares during the period. Finally, UMB Bank n.a. acquired a new stake in Western Midstream Partners during the fourth quarter worth approximately $74,000. 42.94% of the stock is currently owned by institutional investors.

Western Midstream Partners Company Profile

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.