Western Midstream Partners (NYSE:WES) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Western Midstream Partners (NYSE:WES) from a hold rating to a buy rating in a research note published on Saturday.

Several other equities research analysts also recently commented on the company. UBS Group cut their price objective 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. Royal Bank of Canada reiterated a “sector perform” rating and issued a $41.00 price target on shares of Western Midstream Partners in a research note on Monday, December 9th. Finally, US Capital Advisors upgraded shares of Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Western Midstream Partners presently has an average rating of “Hold” and a consensus target price of $38.43.

Western Midstream Partners Stock Performance

WES opened at $40.56 on Friday. The business’s 50-day simple moving average is $40.45 and its 200 day simple moving average is $39.25. Western Midstream Partners has a 52-week low of $33.39 and a 52-week high of $43.33. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market capitalization of $15.46 billion, a PE ratio of 10.35, a PEG ratio of 1.40 and a beta of 2.88.

Western Midstream Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were given a $0.875 dividend. This represents a $3.50 annualized dividend and a dividend yield of 8.63%. The ex-dividend date was Monday, February 3rd. Western Midstream Partners’s payout ratio is presently 86.85%.

Institutional Trading of Western Midstream Partners

Hedge funds have recently modified their holdings of the stock. Apollon Wealth Management LLC raised its holdings in Western Midstream Partners by 1.2% in the 4th quarter. Apollon Wealth Management LLC now owns 25,691 shares of the pipeline company’s stock valued at $987,000 after acquiring an additional 295 shares during the period. Integrated Wealth Concepts LLC grew its position in shares of Western Midstream Partners by 4.7% in the fourth quarter. Integrated Wealth Concepts LLC now owns 6,833 shares of the pipeline company’s stock valued at $263,000 after purchasing an additional 306 shares during the last quarter. Virtus ETF Advisers LLC increased its stake in shares of Western Midstream Partners by 7.3% during the fourth quarter. Virtus ETF Advisers LLC now owns 4,564 shares of the pipeline company’s stock worth $175,000 after purchasing an additional 311 shares during the period. Concurrent Investment Advisors LLC lifted its holdings in Western Midstream Partners by 6.2% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 6,053 shares of the pipeline company’s stock worth $232,000 after purchasing an additional 352 shares during the last quarter. Finally, RE Dickinson Investment Advisors LLC boosted its stake in Western Midstream Partners by 21.8% in the 4th quarter. RE Dickinson Investment Advisors LLC now owns 2,168 shares of the pipeline company’s stock valued at $83,000 after purchasing an additional 388 shares during the period. Institutional investors and hedge funds own 84.82% of the company’s stock.

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.