Western Midstream Partners (NYSE:WES) Sets New 1-Year High – Time to Buy?

Shares of Western Midstream Partners, LP (NYSE:WES) reached a new 52-week high during trading on Tuesday . The stock traded as high as $42.93 and last traded at $42.72, with a volume of 452634 shares traded. The stock had previously closed at $41.51.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on WES. Bank of America started coverage on Western Midstream Partners in a report on Thursday, October 17th. They set an “underperform” rating and a $37.00 price target for the company. Morgan Stanley lowered shares of Western Midstream Partners from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $42.00 to $40.00 in a research report on Friday, October 25th. Royal Bank of Canada restated a “sector perform” rating and issued a $41.00 target price on shares of Western Midstream Partners in a report on Monday, December 9th. StockNews.com downgraded shares of Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, October 28th. Finally, US Capital Advisors raised Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $37.88.

Western Midstream Partners Trading Up 1.0 %

The company’s 50 day simple moving average is $39.49 and its two-hundred day simple moving average is $39.12. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.05. The company has a market capitalization of $16.14 billion, a price-to-earnings ratio of 10.82, a P/E/G ratio of 1.44 and a beta of 2.90.

Western Midstream Partners (NYSE:WES) last issued its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.09). The business had revenue of $883.36 million for the quarter, compared to analysts’ expectations of $924.83 million. Western Midstream Partners had a return on equity of 46.02% and a net margin of 42.99%. Western Midstream Partners’s revenue was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.70 EPS. As a group, research analysts anticipate that Western Midstream Partners, LP will post 4.03 earnings per share for the current fiscal year.

Institutional Trading of Western Midstream Partners

Institutional investors and hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC acquired a new position in shares of Western Midstream Partners in the 2nd quarter valued at about $74,000. Sfmg LLC purchased a new position in Western Midstream Partners during the second quarter valued at approximately $205,000. Daymark Wealth Partners LLC acquired a new position in shares of Western Midstream Partners in the 2nd quarter valued at $1,244,000. Duff & Phelps Investment Management Co. acquired a new position in shares of Western Midstream Partners in the second quarter worth about $397,000. Finally, Truist Financial Corp boosted its position in Western Midstream Partners by 1.9% during the second quarter. Truist Financial Corp now owns 22,508 shares of the pipeline company’s stock worth $894,000 after purchasing an additional 421 shares in the last quarter. 84.82% of the stock is currently owned by institutional investors and hedge funds.

About Western Midstream Partners

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.