Western Midstream Partners LP [NYSE: WES] surged by $3.42 during the normal trading session on while it closed the day at $33.60. The company report on February 21, 2024 at 4:07 PM that WESTERN MIDSTREAM ANNOUNCES 2024 GUIDANCE AND NON-CORE ASSET SALES FOR AGGREGATE PROCEEDS OF $790 MILLION.
EXPECTS TO RECOMMEND A 52-PERCENT BASE DISTRIBUTION INCREASE.
Subsequent to quarter-end, entered into a series of agreements to sell WES’s equity interests in multiple non-core assets for aggregate proceeds of $790 million and for an aggregate multiple of approximately 9.6 times 2023 Adjusted EBITDA.
Western Midstream Partners LP stock has also gained 19.74% of its value over the past 7 days. However, WES stock has inclined by 17.40% in the 3 months of the year. Over the past six months meanwhile, it has gained 23.12% and gained 14.83% year-on date.
The market cap for WES stock reached $12.75 billion, with 379.52 million shares outstanding and 191.51 million shares in the current float. Compared to the average trading volume of 1.27M shares, WES reached a trading volume of 6395196 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to 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 $31.26 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 2.43. 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.
BofA Securities have made an estimate for Western Midstream Partners LP shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on December 13, 2023. While these analysts kept the previous recommendation, Wells Fargo dropped their target price from $31 to $30. The new note on the price target was released on August 11, 2023, representing the official price target for Western Midstream Partners LP stock. Previously, the target price had yet another drop from $31 to $29, while JP Morgan kept a Neutral rating on WES stock.
The Average True Range (ATR) for Western Midstream Partners LP is set at 1.01, with the Price to Sales ratio for WES stock in the period of the last 12 months amounting to 4.10. The Price to Book ratio for the last quarter was 4.41, with the Price to Cash per share for the same quarter was set at 0.72. Price to Free Cash Flow for WES in the course of the last twelve months was 13.21 with Quick ratio for the last quarter at 0.76.
WES stock trade performance evaluation
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 19.74. With this latest performance, WES shares gained by 16.99% in over the last four-week period, additionally plugging by 23.12% over the last 6 months – not to mention a rise of 23.67% 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 77.09, with the RSI for the last a single of trading hit 81.79, and the three-weeks RSI is set at 73.13 for Western Midstream Partners LP [WES]. The present Moving Average for the last 50 days of trading for this stock 28.56, while it was recorded at 30.50 for the last single week of trading, and 27.49 for the last 200 days.
Western Midstream Partners LP [WES]: An insightful look at the core fundamentals
Western Midstream Partners LP’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.76 and a Current Ratio set at 0.76.
Earnings per share (EPS) analysis for Western Midstream Partners LP [WES] stock
With the latest financial reports released by the company, Western Midstream Partners LP posted 0.52/share EPS, while the average EPS was predicted by analysts to be reported at 0.64/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -18.80%. 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 3.80%.
Western Midstream Partners LP [WES]: Institutional Ownership
The top three institutional holders of WES stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in WES stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in WES stock with ownership which is approximately 5.8325%.
