Western Midstream Partners (NYSE:WES) was given a new $39.00 target price at UBS Group

Western Midstream Partners (NYSE:WES – Free Report) Their target price was raised by UBS Group from $38.00 to $39.00 in a report on Wednesday morning, Benzinga reports. UBS Group currently has a neutral rating on the pipeline company’s stock.

Several other equities research analysts have also recently commented on the company. Royal Bank of Canada boosted their price objective on Western Midstream Partners from $36.00 to $38.00 and gave the company a sector perform rating in a research report on Tuesday, August 27th. Wells Fargo & Company upped their price objective on shares of Western Midstream Partners from $34.00 to $35.00 and gave the company an equal weight rating in a report on Tuesday, May 21st. StockNews.com lowered shares of Western Midstream Partners from a strong-buy rating to a buy rating in a report on Tuesday. Morgan Stanley cut shares of Western Midstream Partners from an overweight rating to an equal weight rating and set a $42.00 target price for the company. in a research note on Monday. Finally, Stifel Nicolaus boosted their price target on Western Midstream Partners from $39.00 to $40.00 and gave the stock a hold rating in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. Western Midstream Partners currently has a consensus rating of Hold and a consensus price target of $36.75, based on data from MarketBeat.com.

Check out our latest research report on WES

Western Midstream Partners stock performance

Shares of Western Midstream Partners stock opened at $39.63 on Wednesday. Western Midstream Partners has a one year low of $26.11 and a one year high of $42.80. The company’s 50-day moving average is $39.29 and its 200-day moving average is $37.60. The stock has a market cap of $15.08 billion, a price-to-earnings ratio of 11.16, a PEG ratio of 0.75 and a beta of 2.87. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.68, and a quick ratio of 1.68.

Western Midstream Partners (NYSE:WES – Get Your Free Report ) last posted its earnings results on Wednesday, August 7th. The pipeline company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.09. The firm had revenue of $905.63 million for the quarter, compared to the consensus estimate of $904.94 million. Western Midstream Partners had a net margin of 44.01% and a return on equity of 47.19%. The company’s revenue increased by 22.7% year-on-year. In the same quarter last year, the company posted earnings of $0.64 per share. sell-side analysts anticipate that Western Midstream Partners will post 4.16 EPS for the current fiscal year.

Western Midstream Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 1st were given a dividend of $0.875 per share. The ex-dividend date was Thursday, August 1. This represents an annualized dividend of $3.50 and a yield of 8.83%. Western Midstream Partners’ dividend payout ratio (DPR) is currently 98.59%.

Insider Buying and Selling at Western Midstream Partners

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of Western Midstream Partners stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the transaction, the insider now directly owns 165,681,578 shares of the company’s stock, valued at approximately $5,923,116,413.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed via this link. 0.04% of shares are currently held by corporate insiders.

Institutional inputs and outputs

A number of large investors have recently modified their holdings of the company. Eagle Bay Advisors LLC bought a new stake in Western Midstream Partners in the first quarter valued at approximately $29,000. American National Bank grew its position in shares of Western Midstream Partners by 34.5% in the first quarter. American National Bank now owns 1,190 shares of the pipeline company’s stock worth $42,000 after purchasing an additional 305 shares in the last quarter. Retirement Group LLC boosted its stake in Western Midstream Partners by 40.2% in the first quarter. Retirement Group LLC now owns 1,591 shares of the pipeline company’s stock valued at $57,000 after buying an additional 456 shares during the period. EverSource Wealth Advisors LLC acquired a new position in Western Midstream Partners in the second quarter valued at approximately $74,000. Finally, Triad Wealth Partners LLC bought a new position in Western Midstream Partners in the second quarter valued at approximately $78,000. Hedge funds and other institutional investors own 42.94% of the company’s shares.

Western Midstream Partners company profile

(Get a 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 the collection, compression, treatment, processing and transportation of natural gas; collecting, stabilizing and transporting condensate, natural gas liquids (NGL) and crude oil; and the collection and disposal of produced water.

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