Western Midstream Partners LP [WES] moved up 4.10: Why It’s Important

Western Midstream Partners LP [NYSE: WES] traded at a high on 03/02/23, posting a 4.10 gain after which it closed the day’ session at $26.67. The company report on February 27, 2023 that Western Midstream Announces Fourth-Quarter Post-Earnings Interview With Chief Financial Officer, Kristen Shults and Participation in Morgan Stanley, Barclays, and Mizuho Conferences.

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Today, Western Midstream Partners, LP (NYSE: WES) (“WES” or the “Partnership”) announced that after the market close it made 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 and full-year 2022 results.

On March 1, 2023, Ms. Shults and Daniel Jenkins, Director of Investor Relations, will participate in one-on-one and group sessions at the 2023 Morgan Stanley Energy and Power Conference.

The results of the trading session contributed to over 2453329 shares changing hands. Over the past one week, the price volatility of Western Midstream Partners LP stands at 3.73% while the volatility over the past one month is 3.04%.

The market cap for WES stock reached $10.32 billion, with 384.77 million shares outstanding and 384.68 million shares in the current float. Compared to the average trading volume of 958.33K shares, WES reached a trading volume of 2453329 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 $33.25 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 1.90. 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.

Citigroup have made an estimate for Western Midstream Partners LP shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 09, 2022. While these analysts kept the previous recommendation, Wolfe Research raised their target price to Peer Perform. The new note on the price target was released on August 01, 2022, representing the official price target for Western Midstream Partners LP stock. Previously, the target price had yet another raise to $25, while BofA Securities analysts kept a Buy rating on WES stock.

The Average True Range (ATR) for Western Midstream Partners LP is set at 0.86, with the Price to Sales ratio for WES stock in the period of the last 12 months amounting to 3.17. The Price to Book ratio for the last quarter was 3.45, with the Price to Cash per share for the same quarter was set at 0.74. Price to Free Cash Flow for WES in the course of the last twelve months was 21.56 with Quick ratio for the last quarter at 1.00.

How has WES stock performed recently?

Western Midstream Partners LP [WES] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.41. With this latest performance, WES shares dropped by -1.30% in over the last four-week period, additionally sinking by -4.58% over the last 6 months – not to mention a rise of 2.22% 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 45.00, with the RSI for the last a single of trading hit 44.63, and the three-weeks RSI is set at 46.33 for Western Midstream Partners LP [WES]. The present Moving Average for the last 50 days of trading for this stock 27.10, while it was recorded at 26.20 for the last single week of trading, and 26.82 for the last 200 days.

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

Western Midstream Partners LP’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.00.

Earnings analysis for Western Midstream Partners LP [WES]

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 15.80%.

Insider trade positions for Western Midstream Partners LP [WES]

There are presently around $4,364 million, or 92.30% of WES stock, in the hands of institutional investors. The top three institutional holders of WES stocks are: ALPS ADVISORS INC with ownership of 25,442,166, which is approximately 7.432% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKSTONE INC., holding 17,681,677 shares of the stock with an approximate value of $471.57 million in WES stocks shares; and INVESCO LTD., currently with $422.87 million in WES stock with ownership of nearly 9.03% of the company’s market capitalization.

90 institutional holders increased their position in Western Midstream Partners LP [NYSE:WES] by around 8,375,729 shares. Additionally, 67 investors decreased positions by around 8,912,309 shares, while 60 investors held positions by with 146,324,363 shares. The mentioned changes placed institutional holdings at 163,612,401 shares, according to the latest SEC report filing. WES stock had 23 new institutional investments in for a total of 2,340,416 shares, while 15 institutional investors sold positions of 486,545 shares during the same period.


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