Western Midstream Partners’ (WES) “Neutral” Rating Reiterated at Mitsubishi UFJ Financial Group

Mitsubishi UFJ Financial Group reiterated their neutral rating on shares of Western Midstream Partners (NYSE:WES) in a report released on Thursday morning, BenzingaRatingsTable reports. Mitsubishi UFJ Financial Group currently has a $37.00 price objective on the pipeline company’s stock, down from their prior price objective of $42.00.

Other analysts have also recently issued reports about the stock. Citigroup restated a buy rating and set a $35.00 target price on shares of Western Midstream Partners in a report on Tuesday, April 9th. ValuEngine cut shares of Western Midstream Partners from a sell rating to a strong sell rating in a report on Thursday. Finally, Mizuho started coverage on shares of Western Midstream Partners in a report on Friday, June 14th. They set a buy rating and a $34.00 target price for the company. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $43.08.

Shares of Western Midstream Partners stock traded down $0.55 on Thursday, hitting $25.95. The company had a trading volume of 1,693,004 shares, compared to its average volume of 951,119. The business has a 50-day simple moving average of $30.27. The company has a current ratio of 0.67, a quick ratio of 0.13 and a debt-to-equity ratio of 2.15. The stock has a market cap of $12.00 billion, a P/E ratio of 10.34, a PEG ratio of 1.93 and a beta of 1.40. Western Midstream Partners has a 52 week low of $25.64 and a 52 week high of $37.00.

Western Midstream Partners (NYSE:WES) last issued its earnings results on Tuesday, July 30th. The pipeline company reported $0.37 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.27). The business had revenue of $685.10 million for the quarter, compared to the consensus estimate of $709.39 million. Western Midstream Partners had a return on equity of 14.63% and a net margin of 18.98%. The company’s quarterly revenue was up 32.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.32) earnings per share. On average, equities analysts expect that Western Midstream Partners will post 2.02 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 13th. Investors of record on Wednesday, July 31st will be given a $0.618 dividend. This represents a $2.47 annualized dividend and a dividend yield of 9.53%. The ex-dividend date of this dividend is Tuesday, July 30th. This is an increase from Western Midstream Partners’s previous quarterly dividend of $0.61. Western Midstream Partners’s dividend payout ratio is 98.41%.

Large investors have recently modified their holdings of the stock. Stephens Inc. AR grew its position in Western Midstream Partners by 23.3% in the 2nd quarter. Stephens Inc. AR now owns 23,499 shares of the pipeline company’s stock worth $723,000 after purchasing an additional 4,434 shares during the last quarter. ELCO Management Co. LLC grew its position in Western Midstream Partners by 12.4% in the 2nd quarter. ELCO Management Co. LLC now owns 102,599 shares of the pipeline company’s stock worth $3,157,000 after purchasing an additional 11,300 shares during the last quarter. CIBC Private Wealth Group LLC grew its position in Western Midstream Partners by 9.9% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 2,180,977 shares of the pipeline company’s stock worth $67,108,000 after purchasing an additional 196,141 shares during the last quarter. BNP Paribas Arbitrage SA acquired a new stake in Western Midstream Partners in the 2nd quarter worth $2,024,000. Finally, Barnett & Company Inc. grew its position in Western Midstream Partners by 36.9% in the 2nd quarter. Barnett & Company Inc. now owns 27,449 shares of the pipeline company’s stock worth $845,000 after purchasing an additional 7,400 shares during the last quarter. Institutional investors and hedge funds own 41.10% of the company’s stock.

Western Midstream Partners Company Profile

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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Analyst Recommendations for Western Midstream Partners (NYSE:WES)

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