RBC Capital Remains a Hold on Western Midstream Partners (WES)

In a report released yesterday, Elvira Scotto from RBC Capital maintained a Hold rating on Western Midstream Partners (WES – Research Report), with a price target of $34.00. The company’s shares closed yesterday at $35.71.

Scotto covers the Energy sector, focusing on stocks such as Archrock, Cheniere Energy, and Cheniere Energy Partners. According to TipRanks, Scotto has an average return of 18.0% and a 64.42% success rate on recommended stocks.

Currently, the analyst consensus on Western Midstream Partners is a Moderate Buy with an average price target of $28.01.

Based on Western Midstream Partners’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $776.01 million and a net profit of $283.42 million. In comparison, last year the company earned a revenue of $837.57 million and had a net profit of $273.97 million

Based on the recent corporate insider activity of 21 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of WES in relation to earlier this year.

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Western Midstream Partners (WES) Company Description:

Western Midstream Partners LP owns, operates, acquires and develops 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. The company was founded in 2007 and is headquartered in The Woodlands, TX.