Western Midstream Partners, LP (NYSE:WES) was the recipient of a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 3,670,000 shares, a growth of 20.3% from the December 15th total of 3,050,000 shares. Currently, 1.9% of the shares of the company are short sold. Based on an average daily trading volume, of 1,830,000 shares, the days-to-cover ratio is presently 2.0 days.
Several large investors have recently modified their holdings of the company. Diversified Trust Co increased its position in shares of Western Midstream Partners by 25.9% during the fourth quarter. Diversified Trust Co now owns 15,245 shares of the pipeline company's stock worth $211,000 after acquiring an additional 3,137 shares during the period. Van ECK Associates Corp increased its position in shares of Western Midstream Partners by 12.5% during the third quarter. Van ECK Associates Corp now owns 21,506 shares of the pipeline company's stock worth $172,000 after acquiring an additional 2,396 shares during the period. Blackstone Group Inc increased its position in shares of Western Midstream Partners by 440.3% during the third quarter. Blackstone Group Inc now owns 2,466,657 shares of the pipeline company's stock worth $19,733,000 after acquiring an additional 2,010,150 shares during the period. State of Tennessee Treasury Department purchased a new position in shares of Western Midstream Partners during the third quarter worth approximately $46,000. Finally, Lonestar Capital Management LLC increased its position in shares of Western Midstream Partners by 82.8% during the third quarter. Lonestar Capital Management LLC now owns 980,000 shares of the pipeline company's stock worth $7,840,000 after acquiring an additional 444,000 shares during the period. 34.87% of the stock is currently owned by institutional investors and hedge funds.
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Several equities research analysts have recently commented on the company. Royal Bank of Canada upped their price objective on Western Midstream Partners from $9.00 to $12.00 in a research note on Wednesday, November 18th. Capital One Financial upgraded Western Midstream Partners from an "equal weight" rating to an "overweight" rating in a research note on Monday, November 16th. Zacks Investment Research upgraded Western Midstream Partners from a "hold" rating to a "buy" rating and set a $9.75 price objective for the company in a research note on Thursday, October 22nd. Mizuho upped their price objective on Western Midstream Partners from $12.00 to $15.00 and gave the stock a "buy" rating in a research note on Wednesday, November 11th. Finally, Credit Suisse Group upgraded Western Midstream Partners from a "neutral" rating to an "outperform" rating and increased their price target for the stock from $14.00 to $20.00 in a research note on Thursday, December 17th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. The company has an average rating of "Buy" and a consensus price target of $15.28.
Shares of NYSE WES opened at $16.54 on Monday. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.63 and a quick ratio of 0.63. The company has a market cap of $6.88 billion, a P/E ratio of 17.98 and a beta of 3.77. Western Midstream Partners has a 1 year low of $2.90 and a 1 year high of $21.71. The firm has a 50-day simple moving average of $14.70 and a two-hundred day simple moving average of $10.65.
Western Midstream Partners (NYSE:WES) last announced its quarterly earnings data on Monday, November 9th. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of $0.51 by $0.04. The business had revenue of $679.00 million during the quarter, compared to the consensus estimate of $635.20 million. Western Midstream Partners had a net margin of 14.99% and a return on equity of 32.94%. The firm's quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.27 earnings per share. As a group, equities research analysts expect that Western Midstream Partners will post 2.31 EPS for the current year.
Western Midstream Partners Company Profile
Western Midstream Partners, LP, together with its subsidiaries, engages in gathering, processing, compressing, treating, stabilizing, and transporting natural gas, condensate, natural gas liquids (NGLs), and crude oil primarily in the United States. It is also involved in gathering and disposing of produced water; and buying and selling of natural gas, NGLs, and condensate.
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