Western Midstream Partners (NYSE:WES) Hits New 52-Week High – Here’s What Happened

by · The Cerbat Gem

Western Midstream Partners, LP (NYSE:WES – Get Free Report)’s share price hit 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 changing hands. The stock had previously closed at $41.51.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $41.00 target price on shares of Western Midstream Partners in a research report on Monday, December 9th. UBS Group decreased their price objective on shares of Western Midstream Partners from $40.00 to $37.00 and set a “neutral” rating for the company in a report on Friday, November 15th. Morgan Stanley downgraded shares of Western Midstream Partners from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $42.00 to $40.00 in a research note on Friday, October 25th. Bank of America assumed coverage on shares of Western Midstream Partners in a research note on Thursday, October 17th. They set an “underperform” rating and a $37.00 price target for the company. 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 issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $37.88.

Get Our Latest Analysis on WES

Western Midstream Partners Trading Up 2.9 %

The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.05. The stock has a market capitalization of $16.26 billion, a P/E ratio of 10.92, a price-to-earnings-growth ratio of 1.39 and a beta of 2.90. The company has a 50-day moving average price of $39.25 and a 200 day moving average price of $39.08.

Western Midstream Partners (NYSE:WES – Get Free Report) last announced its earnings results on Wednesday, November 6th. The pipeline company reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.09). Western Midstream Partners had a return on equity of 46.02% and a net margin of 42.99%. The firm had revenue of $883.36 million during the quarter, compared to the consensus estimate of $924.83 million. During the same quarter in the prior year, the firm posted $0.70 earnings per share. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. On average, research analysts forecast that Western Midstream Partners, LP will post 4.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Western Midstream Partners

Several institutional investors and hedge funds have recently bought and sold shares of the company. Chickasaw Capital Management LLC lifted its holdings in shares of Western Midstream Partners by 1.5% during the 4th quarter. Chickasaw Capital Management LLC now owns 6,755,387 shares of the pipeline company’s stock valued at $259,610,000 after purchasing an additional 99,518 shares during the last quarter. Kayne Anderson Capital Advisors LP increased its position in Western Midstream Partners by 23.5% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 6,228,448 shares of the pipeline company’s stock valued at $238,300,000 after buying an additional 1,184,597 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Western Midstream Partners by 60.1% in the third quarter. JPMorgan Chase & Co. now owns 1,785,105 shares of the pipeline company’s stock valued at $68,298,000 after buying an additional 670,440 shares during the last quarter. Fractal Investments LLC boosted its holdings in Western Midstream Partners by 5.4% in the third quarter. Fractal Investments LLC now owns 1,465,706 shares of the pipeline company’s stock worth $56,078,000 after acquiring an additional 75,145 shares in the last quarter. Finally, Recurrent Investment Advisors LLC grew its stake in shares of Western Midstream Partners by 5.4% during the third quarter. Recurrent Investment Advisors LLC now owns 1,397,140 shares of the pipeline company’s stock worth $53,455,000 after acquiring an additional 71,210 shares during the last quarter. 84.82% of the stock is owned by hedge funds and other institutional investors.

Western Midstream Partners Company Profile

(Get Free Report)

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.

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