LADENBURG THALM/SH SH lowered shares of Western Midstream Partners (NYSE:WES) from a buy rating to a neutral rating in a research note published on Tuesday, Briefing.com Automated Import reports.
WES has been the topic of several other research reports. Royal Bank of Canada dropped their target price on Western Midstream Partners to $28.00 and set an outperform rating on the stock in a report on Monday, August 5th. ValuEngine lowered Western Midstream Partners from a sell rating to a strong sell rating in a report on Thursday, August 1st. JPMorgan Chase & Co. lowered Western Midstream Partners from an overweight rating to a neutral rating and dropped their target price for the stock from $40.00 to $31.00 in a report on Tuesday. Mitsubishi UFJ Financial Group reiterated a neutral rating and set a $37.00 target price (down previously from $42.00) on shares of Western Midstream Partners in a report on Thursday, August 1st. Finally, Zacks Investment Research lowered Western Midstream Partners from a buy rating to a hold rating in a report on Saturday, August 3rd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $39.79.
WES stock opened at $24.11 on Tuesday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.15. The firm has a market capitalization of $11.03 billion, a PE ratio of 9.61, a P/E/G ratio of 2.09 and a beta of 1.40. The stock’s 50-day moving average price is $29.30. Western Midstream Partners has a fifty-two week low of $23.45 and a fifty-two week high of $36.19.
Western Midstream Partners (NYSE:WES) last posted its quarterly earnings data on Tuesday, July 30th. The pipeline company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.27). The firm had revenue of $685.10 million for the quarter, compared to analyst estimates of $709.39 million. Western Midstream Partners had a return on equity of 14.63% and a net margin of 18.98%. The firm’s quarterly revenue was up 32.2% on a year-over-year basis. During the same period in the prior year, the company earned ($0.32) earnings per share. As a group, sell-side analysts anticipate that Western Midstream Partners will post 1.94 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 13th. Shareholders of record on Wednesday, July 31st were paid a $0.618 dividend. This is a positive change from Western Midstream Partners’s previous quarterly dividend of $0.61. The ex-dividend date was Tuesday, July 30th. This represents a $2.47 annualized dividend and a yield of 10.25%. Western Midstream Partners’s dividend payout ratio is currently 98.41%.
A number of large investors have recently added to or reduced their stakes in the business. CQS Cayman LP bought a new stake in Western Midstream Partners in the second quarter valued at approximately $2,646,000. BlackRock Inc. raised its stake in Western Midstream Partners by 0.5% in the second quarter. BlackRock Inc. now owns 1,199,159 shares of the pipeline company’s stock valued at $36,898,000 after buying an additional 5,916 shares during the period. US Bancorp DE raised its stake in Western Midstream Partners by 4.4% in the second quarter. US Bancorp DE now owns 30,111 shares of the pipeline company’s stock valued at $927,000 after buying an additional 1,273 shares during the period. Virtus ETF Advisers LLC bought a new stake in Western Midstream Partners in the second quarter valued at approximately $2,426,000. Finally, Chilton Capital Management LLC raised its stake in Western Midstream Partners by 0.7% in the second quarter. Chilton Capital Management LLC now owns 88,876 shares of the pipeline company’s stock valued at $2,735,000 after buying an additional 595 shares during the period. Hedge funds and other institutional investors own 40.98% of the company’s stock.
About Western Midstream Partners
Western Midstream Partners, LP, together with its subsidiaries, engages in gathering, processing, compressing, treating, stabilizing, and transporting natural gas, condensate, natural gas liquids, and crude oil primarily in the United States. It is also involved in the gathering and disposing of produced water; and buying and selling of natural gas.
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