A share price of Western Midstream Partners LP [WES] is currently trading at $34.73, up 1.17%. Until recently, the best way to gauge how the stock has performed was to look at its short-term value. The WES shares have gain 3.92% over the last week, with a monthly amount glided 23.51%, and seem to be holding up well over a long-time horizon.
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On 26, February 2024, WESTERN MIDSTREAM ANNOUNCES FOURTH-QUARTER POST-EARNINGS INTERVIEW WITH CHIEF FINANCIAL OFFICER, KRISTEN SHULTS AND PARTICIPATION IN UPCOMING INVESTOR CONFERENCES. In a post published today on Yahoo Finance, Today Western Midstream Partners, LP (NYSE: WES) (“WES” or the “Partnership”) announced that tomorrow before the market open it will make available on its website at www.westernmidstream.com a post-earnings interview with Kristen Shults, Senior Vice President and Chief Financial Officer, to provide additional insights related to fourth-quarter 2023 results and 2024 guidance.
From an analyst’s perspective:
Western Midstream Partners LP [NYSE: WES] stock has seen the most recent analyst activity on February 29, 2024, when Citigroup downgraded its rating to a Neutral and also boosted its price target to $34 from $30. Previously, BofA Securities downgraded its rating to Underperform on December 13, 2023, and dropped its price target to $27. On August 11, 2023, downgrade downgraded it’s rating to Equal Weight and revised its price target to $30 on the stock. JP Morgan downgraded its rating to a Neutral and decreased its price target to $29 on August 09, 2023. Wolfe Research downgraded its rating to a Underperform but $25 remained the price target by the analyst firm on July 12, 2023. UBS started tracking with a Neutral rating for this stock on June 26, 2023, and assigned it a price target of $27. In a note dated April 21, 2023, Raymond James initiated an Outperform rating and provided a target price of $34 on this stock.
Western Midstream Partners LP experienced fluctuations in its stock price throughout the past year between $23.48 and $35.04. Currently, Wall Street analysts expect the stock to reach $35 within the next 12 months. Western Midstream Partners LP [NYSE: WES] shares were valued at $34.73 at the most recent close of the market. An investor can expect a potential return of 0.78% based on the average WES price forecast.
Analyzing the WES fundamentals
Trailing Twelve Months sales for Western Midstream Partners LP [NYSE:WES] were 3.11B which represents 10.11% growth. Gross Profit Margin for this corporation currently stands at 0.69% with Operating Profit Margin at 0.43%, Pretax Profit Margin comes in at 0.34%, and Net Profit Margin reading is 0.33%. To continue investigating profitability, this company’s Return on Assets is posted at 0.08, Equity is 0.34 and Total Capital is 0.12. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of2.72.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 34.40 points at the first support level, and at 34.08 for the second support level. However, for the 1st resistance point, the stock is sitting at 35.00, and for the 2nd resistance point, it is at 35.28.
Western Midstream Partners LP [WES] reported earnings per share of $0.74 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.78/share, meaning a difference of -$0.04 and a surprise factor of -5.10%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $0.7 per share as compared to estimates of $0.63 per share, a difference of $0.07 representing a surprise of 11.10%.
Ratios To Look Out For
To put it in perspective, the Current Ratio for Western Midstream Partners LP [NYSE:WES] is 0.76. As well, the Quick Ratio is 0.76, while the Cash Ratio is 0.21. Considering the valuation of this stock, the price to sales ratio is 4.25, the price to book ratio is 4.55 and price to earnings (TTM) ratio is 13.36.
Transactions by insiders
Recent insider trading involved STEWART LISA A, Director, that happened on Mar 06 ’24 when 2500.0 shares were purchased. President & CEO, Ure Michael completed a deal on Mar 01 ’24 to buy 5000.0 shares. Meanwhile, Director Brown Oscar K bought 3500.0 shares on Feb 28 ’24.
