Tuesday, September 22, 2020

why Western Midstream Partners LP [WES] is a Good Choice for Investors After New Price Target of $11.61

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Western Midstream Partners LP [NYSE: WES] slipped around -0.23 points on Tuesday, while shares priced at $7.66 at the close of the session, down -2.92%. The company report on September 14, 2020 that Western Midstream Announces Board, Management Transitions.

Today Western Midstream Partners, LP (NYSE: WES) (“WES”) announced a re-composition of the board of directors (the “Board”) of Western Midstream Holdings, LLC, its general partner (the “General Partner”). Kenneth F. Owen, David J. Schulte, and Lisa A. Stewart (each a “New Director”) were appointed as independent directors. In connection with a reduction in the size of the Board from eleven to eight directors, Steven D. Arnold, Marcia E. Backus, James R. Crane, Thomas R. Hix, Craig W. Stewart, and David J. Tudor will be leaving the Board. The changes to the Board are effective immediately. Each New Director will serve on both the Audit Committee and the Special Committee of the Board, with Mr. Owen serving as the Chairman of the Audit Committee and Mr. Schulte serving as the Chairman of the Special Committee.

“We would like to thank Steven, Jim, Tom, Craig, David, and Marcia for their service on the Board. They have made numerous contributions to WES and its unitholders during their tenure, including helping WES navigate not only its transition to a stand-alone company but also the unprecedented public health and market-driven challenges confronting our industry over the past six months. We are deeply grateful for their years of service and dedication,” said Glenn Vangolen, Chairman of the Board.

Western Midstream Partners LP stock is now -61.10% down from its year-to-date (YTD) trading value. WES Stock saw the intraday high of $8.15 and lowest of $7.66 per share. The company’s 52-week high price is 27.38, which means current price is +164.14% above from all time high which was touched on 01/08/20.

Compared to the average trading volume of 1.75M shares, WES reached a trading volume of 2219672 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Western Midstream Partners LP [WES]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for WES shares is $11.61 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on WES stock is a recommendation set at 2.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Tudor Pickering have made an estimate for Western Midstream Partners LP shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 21, 2020. The new note on the price target was released on August 12, 2020, representing the official price target for Western Midstream Partners LP stock.

The Average True Range (ATR) for Western Midstream Partners LP is set at 0.48, with the Price to Sales ratio for WES stock in the period of the last 12 months amounting to 1.25. The Price to Book ratio for the last quarter was 1.21, with the Price to Cash per share for the same quarter was set at 0.13.

How has WES stock performed recently?

Western Midstream Partners LP [WES] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.15. With this latest performance, WES shares dropped by -19.96% in over the last four-week period, additionally plugging by 64.38% over the last 6 months – not to mention a drop of -71.01% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for WES stock in for the last two-week period is set at 31.66, with the RSI for the last a single of trading hit 27.99, and the three-weeks RSI is set at 35.66 for Western Midstream Partners LP [WES]. The present Moving Average for the last 50 days of trading for this stock 9.26, while it was recorded at 7.85 for the last single week of trading, and 11.45 for the last 200 days.

Western Midstream Partners LP [WES]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Western Midstream Partners LP [WES] shares currently have an operating margin of +36.48 and a Gross Margin at +42.89. Western Midstream Partners LP’s Net Margin is presently recorded at +24.11.

Return on Total Capital for WES is now 10.21, given the latest momentum, and Return on Invested Capital for the company is 7.84. Return on Equity for this stock inclined to 31.94, with Return on Assets sitting at 6.14. When it comes to the capital structure of this company, Western Midstream Partners LP [WES] has a Total Debt to Total Equity ratio set at 249.22. Additionally, WES Total Debt to Total Capital is recorded at 71.36, with Total Debt to Total Assets ending up at 64.51. Long-Term Debt to Equity for the company is recorded at 248.91, with the Long-Term Debt to Total Capital now at 71.28.

Reflecting on the efficiency of the workforce at the company, Western Midstream Partners LP [WES] managed to generate an average of $676,532 per employee. Receivables Turnover for the company is 10.91 with a Total Asset Turnover recorded at a value of 0.25.Western Midstream Partners LP’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 0.60.

Earnings analysis for Western Midstream Partners LP [WES]

With the latest financial reports released by the company, Western Midstream Partners LP posted 0.27/share EPS, while the average EPS was predicted by analysts to be reported at 0.44/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -38.60%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for WES. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Western Midstream Partners LP go to -3.70%.

Insider trade positions for Western Midstream Partners LP [WES]

There are presently around $1,215 million, or 37.50% of WES stock, in the hands of institutional investors. The top three institutional holders of WES stocks are: ALPS ADVISORS INC with ownership of 24,572,984, which is approximately -5.799% of the company’s market cap and around 0.20% of the total institutional ownership; INVESCO LTD., holding 22,926,705 shares of the stock with an approximate value of $175.62 million in WES stocks shares; and TORTOISE CAPITAL ADVISORS, L.L.C., currently with $131.75 million in WES stock with ownership of nearly 71.157% of the company’s market capitalization.

Positions in Western Midstream Partners LP stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 82 institutional holders increased their position in Western Midstream Partners LP [NYSE:WES] by around 28,029,175 shares. Additionally, 105 investors decreased positions by around 41,337,221 shares, while 29 investors held positions by with 89,196,643 shares. The mentioned changes placed institutional holdings at 158,563,039 shares, according to the latest SEC report filing. WES stock had 28 new institutional investments in for a total of 8,951,496 shares, while 44 institutional investors sold positions of 5,012,722 shares during the same period.

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