Shares of Western Midstream Partners, LP (NYSE:WES – Get Rating) have been assigned an average recommendation of "Moderate Buy" from the eight research firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $31.00.
A number of equities analysts have recently commented on the stock. Wolfe Research assumed coverage on shares of Western Midstream Partners in a research note on Monday, August 1st. They issued a "peer perform" rating on the stock. Morgan Stanley raised their target price on shares of Western Midstream Partners from $31.00 to $35.00 and gave the company an "overweight" rating in a research note on Wednesday, July 20th. StockNews.com downgraded shares of Western Midstream Partners from a "strong-buy" rating to a "buy" rating in a research note on Friday, July 22nd. Finally, Barclays raised their target price on shares of Western Midstream Partners from $29.00 to $31.00 and gave the company an "overweight" rating in a research note on Wednesday, July 20th.
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Western Midstream Partners Stock Performance
NYSE:WES opened at $27.20 on Monday. The firm's 50 day moving average is $27.20 and its two-hundred day moving average is $25.96. Western Midstream Partners has a fifty-two week low of $18.89 and a fifty-two week high of $29.50. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 2.01. The company has a market cap of $10.51 billion, a P/E ratio of 10.15 and a beta of 3.02.
Western Midstream Partners Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 12th. Shareholders of record on Monday, August 1st were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 7.35%. The ex-dividend date was Friday, July 29th. Western Midstream Partners's dividend payout ratio is currently 74.63%.
Insiders Place Their Bets
In other Western Midstream Partners news, major shareholder Petroleum Corp /De/ Occidental sold 10,000,000 shares of the firm's stock in a transaction on Thursday, July 21st. The shares were sold at an average price of $25.25, for a total transaction of $252,500,000.00. Following the completion of the transaction, the insider now directly owns 190,281,578 shares of the company's stock, valued at approximately $4,804,609,844.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.04% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of the business. Blair William & Co. IL boosted its holdings in shares of Western Midstream Partners by 5.2% in the 1st quarter. Blair William & Co. IL now owns 9,492 shares of the pipeline company's stock valued at $239,000 after buying an additional 470 shares during the period. Chicago Partners Investment Group LLC boosted its holdings in shares of Western Midstream Partners by 1.7% in the 1st quarter. Chicago Partners Investment Group LLC now owns 31,344 shares of the pipeline company's stock valued at $812,000 after buying an additional 512 shares during the period. Ieq Capital LLC boosted its holdings in shares of Western Midstream Partners by 2.0% in the 2nd quarter. Ieq Capital LLC now owns 27,012 shares of the pipeline company's stock valued at $657,000 after buying an additional 521 shares during the period. Guggenheim Capital LLC lifted its position in Western Midstream Partners by 3.7% in the 1st quarter. Guggenheim Capital LLC now owns 15,973 shares of the pipeline company's stock valued at $403,000 after purchasing an additional 565 shares during the last quarter. Finally, Advisor Group Holdings Inc. lifted its position in Western Midstream Partners by 6.4% in the 1st quarter. Advisor Group Holdings Inc. now owns 11,853 shares of the pipeline company's stock valued at $234,000 after purchasing an additional 710 shares during the last quarter. 92.76% of the stock is owned by institutional investors and hedge funds.
About Western Midstream Partners
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Western Midstream Partners, LP, a midstream energy company, together with its subsidiaries, acquires, owns, develops, and operates 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.
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