WES FY2024 EPS Estimate Cut by US Capital Advisors

Western Midstream Partners, LP (NYSE:WES) – Stock analysts at US Capital Advisors cut their FY2024 EPS estimates for Western Midstream Partners in a research note issued to investors on Tuesday, November 26th. US Capital Advisors analyst J. Carreker now forecasts that the pipeline company will earn $4.05 per share for the year, down from their previous forecast of $4.17. US Capital Advisors has a “Moderate Buy” rating on the stock. The consensus estimate for Western Midstream Partners’ current full-year earnings is $4.09 per share. US Capital Advisors also issued estimates for Western Midstream Partners’ Q4 2024 earnings at $0.87 EPS, Q1 2025 earnings at $0.84 EPS, Q2 2025 earnings at $0.87 EPS, Q3 2025 earnings at $0.88 EPS, Q4 2025 earnings at $0.96 EPS, FY2025 earnings at $3.56 EPS and FY2026 earnings at $3.84 EPS.

Other equities research analysts also recently issued reports about the company. Royal Bank of Canada boosted their price target on Western Midstream Partners from $38.00 to $41.00 and gave the company a “sector perform” rating in a report on Wednesday, October 16th. UBS Group lowered 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 research note on Friday, November 15th. Morgan Stanley downgraded shares of Western Midstream Partners from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $42.00 to $40.00 in a research report on Friday, October 25th. StockNews.com downgraded shares of Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 28th. Finally, Bank of America began coverage on shares of Western Midstream Partners in a report on Thursday, October 17th. They issued an “underperform” rating and a $37.00 target price on the stock. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $37.88.

Western Midstream Partners Stock Up 2.3 %

Shares of Western Midstream Partners stock opened at $39.65 on Thursday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.05. The business has a 50-day moving average price of $38.27 and a 200 day moving average price of $38.72. Western Midstream Partners has a fifty-two week low of $26.81 and a fifty-two week high of $42.80. The firm has a market cap of $15.09 billion, a P/E ratio of 10.11, a P/E/G ratio of 1.04 and a beta of 2.88.

Western Midstream Partners (NYSE:WES) last issued its earnings results on Wednesday, November 6th. The pipeline company reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.09). The company had revenue of $883.36 million during the quarter, compared to analyst estimates of $924.83 million. Western Midstream Partners had a net margin of 42.99% and a return on equity of 46.02%. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.70 EPS.

Hedge Funds Weigh In On Western Midstream Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cedar Mountain Advisors LLC raised its stake in Western Midstream Partners by 16.1% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 2,158 shares of the pipeline company’s stock valued at $83,000 after acquiring an additional 299 shares in the last quarter. Bleakley Financial Group LLC raised its stake in shares of Western Midstream Partners by 5.8% during the third quarter. Bleakley Financial Group LLC now owns 5,711 shares of the pipeline company’s stock valued at $218,000 after purchasing an additional 311 shares in the last quarter. Albert D Mason Inc. lifted its holdings in Western Midstream Partners by 0.7% in the second quarter. Albert D Mason Inc. now owns 48,760 shares of the pipeline company’s stock worth $1,937,000 after purchasing an additional 333 shares during the period. Concurrent Investment Advisors LLC grew its position in Western Midstream Partners by 6.2% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 6,053 shares of the pipeline company’s stock valued at $232,000 after buying an additional 352 shares in the last quarter. Finally, Truist Financial Corp grew its position in Western Midstream Partners by 1.9% in the 2nd quarter. Truist Financial Corp now owns 22,508 shares of the pipeline company’s stock valued at $894,000 after buying an additional 421 shares in the last quarter. 42.94% of the stock is owned by institutional investors.

Western Midstream Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were issued a dividend of $0.875 per share. The ex-dividend date was Friday, November 1st. This represents a $3.50 dividend on an annualized basis and a dividend yield of 8.83%. Western Midstream Partners’s dividend payout ratio (DPR) is presently 89.29%.

About Western Midstream Partners

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.