Western Midstream Partners (NYSE:WES) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Western Midstream Partners (NYSE:WES) from a hold rating to a buy rating in a research report sent to investors on Saturday morning.

Several other brokerages have also recently issued reports on WES. US Capital Advisors raised shares of Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 26th. UBS Group decreased their target price 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. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $41.00 target price on shares of Western Midstream Partners in a report on Monday, December 9th. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Western Midstream Partners has a consensus rating of “Hold” and an average target price of $38.43.

Western Midstream Partners Stock Up 2.8 %

Shares of Western Midstream Partners stock opened at $38.94 on Friday. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market capitalization of $14.85 billion, a PE ratio of 9.93, a price-to-earnings-growth ratio of 1.40 and a beta of 2.88. Western Midstream Partners has a 52-week low of $33.39 and a 52-week high of $43.33. The company has a 50-day simple moving average of $40.45 and a two-hundred day simple moving average of $39.24.

Western Midstream Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were paid a $0.875 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $3.50 dividend on an annualized basis and a dividend yield of 8.99%. Western Midstream Partners’s dividend payout ratio is presently 86.85%.

Institutional Trading of Western Midstream Partners

A number of large investors have recently made changes to their positions in the stock. Novem Group bought a new stake in Western Midstream Partners during the fourth quarter valued at approximately $695,000. State of Wyoming grew its position in Western Midstream Partners by 40.6% during the fourth quarter. State of Wyoming now owns 3,323 shares of the pipeline company’s stock valued at $128,000 after buying an additional 960 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Western Midstream Partners by 23.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,273,186 shares of the pipeline company’s stock valued at $279,509,000 after buying an additional 1,366,341 shares during the period. Eagle Global Advisors LLC grew its position in Western Midstream Partners by 23.2% during the fourth quarter. Eagle Global Advisors LLC now owns 2,434,080 shares of the pipeline company’s stock valued at $93,542,000 after buying an additional 458,111 shares during the period. Finally, Cresset Asset Management LLC bought a new stake in Western Midstream Partners during the fourth quarter valued at approximately $1,126,000. 84.82% of the stock is currently owned by institutional investors.

Western Midstream Partners Company Profile

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.