Western Midstream Partners LP (NYSE:WES) – Capital One Financial raised their Q3 2020 EPS estimates for Western Midstream Partners in a report issued on Friday, June 26th. Capital One Financial analyst K. May now expects that the pipeline company will post earnings per share of $0.48 for the quarter, up from their prior estimate of $0.46. Capital One Financial has a “Overweight” rating on the stock. Capital One Financial also issued estimates for Western Midstream Partners’ Q4 2020 earnings at $0.45 EPS, FY2020 earnings at $2.21 EPS, Q1 2021 earnings at $0.44 EPS, Q2 2021 earnings at $0.45 EPS, Q4 2021 earnings at $0.47 EPS, FY2021 earnings at $1.82 EPS and FY2022 earnings at $1.98 EPS.
Western Midstream Partners (NYSE:WES) last posted its quarterly earnings data on Tuesday, May 5th. The pipeline company reported ($0.58) earnings per share for the quarter, missing the consensus estimate of $0.50 by ($1.08). The firm had revenue of $774.30 million for the quarter, compared to analysts’ expectations of $709.78 million. Western Midstream Partners had a return on equity of 28.50% and a net margin of 11.48%. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.30 earnings per share.
A number of other research analysts have also weighed in on WES. Bank of America lowered shares of Western Midstream Partners from a “neutral” rating to an “underperform” rating in a research report on Wednesday, March 11th. UBS Group lowered shares of Western Midstream Partners from a “buy” rating to a “neutral” rating and set a $7.50 target price for the company. in a research report on Monday, May 4th. Credit Suisse Group boosted their price objective on shares of Western Midstream Partners from $6.50 to $7.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Royal Bank of Canada downgraded shares of Western Midstream Partners from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $19.00 to $7.00 in a report on Monday, March 16th. Finally, Stifel Nicolaus dropped their price objective on shares of Western Midstream Partners from $26.00 to $13.00 and set a “buy” rating on the stock in a report on Friday, March 13th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $19.04.
Western Midstream Partners stock opened at $10.04 on Monday. The firm has a market cap of $4.46 billion, a price-to-earnings ratio of 14.55 and a beta of 3.95. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.09 and a quick ratio of 1.09. Western Midstream Partners has a fifty-two week low of $2.90 and a fifty-two week high of $31.99. The firm has a fifty day moving average price of $9.87 and a two-hundred day moving average price of $12.11.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Guggenheim Capital LLC increased its stake in Western Midstream Partners by 20.1% in the first quarter. Guggenheim Capital LLC now owns 85,216 shares of the pipeline company’s stock valued at $276,000 after acquiring an additional 14,282 shares during the period. Morgan Stanley increased its stake in Western Midstream Partners by 217.8% in the first quarter. Morgan Stanley now owns 11,689,887 shares of the pipeline company’s stock valued at $37,876,000 after acquiring an additional 8,011,695 shares during the period. Zimmer Partners LP increased its stake in Western Midstream Partners by 45.3% in the first quarter. Zimmer Partners LP now owns 4,439,749 shares of the pipeline company’s stock valued at $14,385,000 after acquiring an additional 1,384,673 shares during the period. Advisor Group Holdings Inc. bought a new stake in Western Midstream Partners in the first quarter valued at about $67,000. Finally, CNH Partners LLC grew its stake in Western Midstream Partners by 97.6% during the first quarter. CNH Partners LLC now owns 45,454 shares of the pipeline company’s stock worth $147,000 after buying an additional 22,454 shares during the last quarter. 36.99% of the stock is currently owned by institutional investors and hedge funds.
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.
Recommended Story: How can investors benefit from after-hours trading?
Receive News & Ratings for Western Midstream Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Midstream Partners and related companies with MarketBeat.com's FREE daily email newsletter.