US Capital Advisors Weighs in on Western Midstream Partners, LP’s Q1 2024 Earnings (NYSE:WES)

Western Midstream Partners, LP (NYSE:WESFree Report) – US Capital Advisors upped their Q1 2024 earnings per share (EPS) estimates for shares of Western Midstream Partners in a research note issued to investors on Wednesday, March 20th. US Capital Advisors analyst J. Carreker now forecasts that the pipeline company will earn $0.82 per share for the quarter, up from their prior forecast of $0.79. The consensus estimate for Western Midstream Partners’ current full-year earnings is $3.44 per share. US Capital Advisors also issued estimates for Western Midstream Partners’ Q4 2024 earnings at $0.84 EPS, FY2024 earnings at $3.20 EPS, Q1 2025 earnings at $0.82 EPS, Q2 2025 earnings at $0.80 EPS, Q3 2025 earnings at $0.85 EPS, Q4 2025 earnings at $0.92 EPS and FY2025 earnings at $3.39 EPS.

Several other research firms have also commented on WES. Citigroup lowered Western Midstream Partners from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $30.00 to $34.00 in a research report on Thursday, February 29th. Bank of America cut shares of Western Midstream Partners from a “buy” rating to an “underperform” rating and lowered their target price for the company from $30.00 to $27.00 in a research note on Wednesday, December 13th. Stifel Nicolaus raised their target price on shares of Western Midstream Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Finally, Raymond James reaffirmed a “market perform” rating on shares of Western Midstream Partners in a report on Tuesday, March 19th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Western Midstream Partners has a consensus rating of “Hold” and an average target price of $30.75.

Check Out Our Latest Analysis on Western Midstream Partners

Western Midstream Partners Trading Down 1.0 %

NYSE:WES opened at $34.62 on Friday. The company has a market capitalization of $13.17 billion, a PE ratio of 13.32 and a beta of 2.83. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 2.40. The stock has a fifty day simple moving average of $31.10 and a 200-day simple moving average of $28.90. Western Midstream Partners has a 52-week low of $24.43 and a 52-week high of $35.14.

Western Midstream Partners (NYSE:WESGet Free Report) last announced its quarterly earnings data on Wednesday, February 21st. The pipeline company reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.04). Western Midstream Partners had a net margin of 32.72% and a return on equity of 33.58%. The business had revenue of $858.21 million during the quarter, compared to analysts’ expectations of $850.23 million. During the same period in the prior year, the firm posted $0.85 EPS. Western Midstream Partners’s revenue for the quarter was up 10.1% compared to the same quarter last year.

Institutional Investors Weigh In On Western Midstream Partners

Institutional investors and hedge funds have recently made changes to their positions in the company. Larson Financial Group LLC acquired a new position in shares of Western Midstream Partners in the 3rd quarter valued at $27,000. Tower Research Capital LLC TRC bought a new position in Western Midstream Partners during the first quarter worth about $27,000. Retirement Group LLC lifted its holdings in shares of Western Midstream Partners by 52.4% during the 2nd quarter. Retirement Group LLC now owns 1,105 shares of the pipeline company’s stock valued at $29,000 after purchasing an additional 380 shares in the last quarter. Ronald Blue Trust Inc. acquired a new position in shares of Western Midstream Partners in the 3rd quarter valued at approximately $32,000. Finally, Fortitude Family Office LLC bought a new stake in Western Midstream Partners during the 4th quarter worth approximately $43,000. Institutional investors own 42.02% of the company’s stock.

Insider Buying and Selling at Western Midstream Partners

In related news, Director Kenneth F. Owen acquired 7,000 shares of the stock in a transaction dated Monday, February 26th. The shares were bought at an average cost of $33.96 per share, for a total transaction of $237,720.00. Following the purchase, the director now owns 32,730 shares in the company, valued at approximately $1,111,510.80. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Kenneth F. Owen bought 7,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was acquired at an average price of $33.96 per share, for a total transaction of $237,720.00. Following the transaction, the director now directly owns 32,730 shares of the company’s stock, valued at approximately $1,111,510.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Lisa A. Stewart purchased 2,500 shares of Western Midstream Partners stock in a transaction on Wednesday, March 6th. The stock was purchased at an average price of $34.87 per share, for a total transaction of $87,175.00. Following the completion of the transaction, the director now owns 30,730 shares of the company’s stock, valued at $1,071,555.10. The disclosure for this purchase can be found here. Insiders own 0.04% of the company’s stock.

Western Midstream Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 13th. Stockholders of record on Thursday, February 1st were issued a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a dividend yield of 6.64%. The ex-dividend date was Wednesday, January 31st. Western Midstream Partners’s payout ratio is presently 88.46%.

Western Midstream Partners Company Profile

(Get 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 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.

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Earnings History and Estimates for Western Midstream Partners (NYSE:WES)

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