Western Midstream Partners LP (NYSE:WES) saw a significant decrease in short interest in the month of July. As of July 15th, there was short interest totalling 8,330,000 shares, a decrease of 15.7% from the June 30th total of 9,880,000 shares. Based on an average daily volume of 2,920,000 shares, the short-interest ratio is presently 2.9 days. Approximately 4.4% of the company’s shares are short sold.
NYSE:WES opened at $9.00 on Friday. The stock has a fifty day moving average price of $10.20 and a two-hundred day moving average price of $10.47. The stock has a market capitalization of $4.00 billion, a price-to-earnings ratio of 4.43 and a beta of 3.96. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.09 and a current ratio of 1.09. Western Midstream Partners has a 1 year low of $2.90 and a 1 year high of $28.56.
Western Midstream Partners (NYSE:WES) last posted its earnings results on Tuesday, May 5th. The pipeline company reported ($0.58) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($1.08). The firm had revenue of $774.30 million during the quarter, compared to analyst estimates of $709.78 million. Western Midstream Partners had a net margin of 11.48% and a return on equity of 28.50%. The firm’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period last year, the company posted $0.30 EPS. On average, analysts predict that Western Midstream Partners will post 1.67 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Friday, July 31st will be issued a $0.311 dividend. This represents a $1.24 annualized dividend and a yield of 13.82%. The ex-dividend date is Thursday, July 30th. Western Midstream Partners’s dividend payout ratio (DPR) is 77.99%.
Institutional investors have recently bought and sold shares of the business. First Horizon Advisors Inc. grew its holdings in Western Midstream Partners by 476.4% in the second quarter. First Horizon Advisors Inc. now owns 3,003 shares of the pipeline company’s stock valued at $30,000 after purchasing an additional 2,482 shares during the last quarter. Deltec Asset Management LLC acquired a new stake in shares of Western Midstream Partners during the first quarter valued at $32,000. Investors Asset Management of Georgia Inc. GA ADV acquired a new stake in shares of Western Midstream Partners during the first quarter valued at $40,000. Baldwin Brothers Inc. MA boosted its stake in shares of Western Midstream Partners by 50.4% during the first quarter. Baldwin Brothers Inc. MA now owns 14,913 shares of the pipeline company’s stock valued at $48,000 after acquiring an additional 5,000 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its stake in shares of Western Midstream Partners by 73.0% during the first quarter. Pacer Advisors Inc. now owns 8,295 shares of the pipeline company’s stock valued at $48,000 after acquiring an additional 3,499 shares during the last quarter. 36.96% of the stock is currently owned by institutional investors.
A number of analysts have issued reports on the stock. Credit Suisse Group boosted their price target on shares of Western Midstream Partners from $6.50 to $7.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Capital One Financial raised Western Midstream Partners from an “equal weight” rating to an “overweight” rating in a research report on Friday, May 29th. UBS Group downgraded Western Midstream Partners from a “buy” rating to a “neutral” rating and set a $7.50 price objective for the company. in a research report on Monday, May 4th. Mizuho lowered their price objective on Western Midstream Partners from $23.00 to $12.00 in a research report on Tuesday, May 5th. Finally, Wells Fargo & Co boosted their price objective on Western Midstream Partners from $7.00 to $10.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 22nd. Three investment analysts have rated the stock with a sell rating, eight 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 $17.88.
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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