Western Midstream Partners LP (NYSE: WES) has a price-to-earnings ratio that is above its average at 13.86x. The stock has a 36-month beta value of 2.77. Opinions on the stock are mixed, with 7 analysts rating it as a “buy,” 4 as “overweight,” 6 as “hold,” and 0 as “sell.”
The public float for WES is 192.53M, and at present, short sellers hold a 3.79% of that float. On April 04, 2024, the average trading volume of WES was 1.33M shares.
WES) stock’s latest price update
Western Midstream Partners LP (NYSE: WES)’s stock price has increased by 0.22 compared to its previous closing price of 35.95. However, the company has seen a 3.74% increase in its stock price over the last five trading sessions. Seeking Alpha reported 2024-04-03 that Western Midstream Partners’ parent company, Occidental Petroleum, is exploring a sale of WES to reduce debt. WES distribution hike is likely to be influenced by OXY. If OXY sells WES towards the end of 2024, investors will likely pocket close to 20% return in 9 months.
WES’s Market Performance
Western Midstream Partners LP (WES) has seen a 3.74% rise in stock performance for the week, with a 6.28% gain in the past month and a 25.19% surge in the past quarter. The volatility ratio for the week is 1.83%, and the volatility levels for the past 30 days are at 2.02% for WES. The simple moving average for the last 20 days is 4.03% for WES stock, with a simple moving average of 25.85% for the last 200 days.
Analysts’ Opinion of WES
Citigroup, on the other hand, stated in their research note that they expect to see WES reach a price target of $34, previously predicting the price at $30. The rating they have provided for WES stocks is “Neutral” according to the report published on February 29th, 2024.
BofA Securities gave a rating of “Underperform” to WES, setting the target price at $27 in the report published on December 13th of the previous year.
WES Trading at 12.80% from the 50-Day Moving Average
After a stumble in the market that brought WES to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -0.22% of loss for the given period.
Volatility was left at 2.02%, however, over the last 30 days, the volatility rate increased by 1.83%, as shares surge +4.95% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +26.38% upper at present.
During the last 5 trading sessions, WES rose by +3.74%, which changed the moving average for the period of 200-days by +32.85% in comparison to the 20-day moving average, which settled at $34.72. In addition, Western Midstream Partners LP saw 23.14% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at WES starting from STEWART LISA A, who purchase 2,500 shares at the price of $34.87 back on Mar 06 ’24. After this action, STEWART LISA A now owns 30,730 shares of Western Midstream Partners LP, valued at $87,175 using the latest closing price.
Ure Michael, the President & CEO of Western Midstream Partners LP, purchase 5,000 shares at $33.65 during a trade that took place back on Mar 01 ’24, which means that Ure Michael is holding 561,404 shares at $168,250 based on the most recent closing price.
Stock Fundamentals for WES
Current profitability levels for the company are sitting at:
- 0.43 for the present operating margin
- 0.69 for the gross margin
The net margin for Western Midstream Partners LP stands at 0.33. The total capital return value is set at 0.12. Equity return is now at value 34.03, with 8.41 for asset returns.
Based on Western Midstream Partners LP (WES), the company’s capital structure generated 0.73 points at debt to capital in total, while cash flow to debt ratio is standing at 0.21. The debt to equity ratio resting at 2.72. The interest coverage ratio of the stock is 3.89.
Currently, EBITDA for the company is 1.89 billion with net debt to EBITDA at 3.84. When we switch over and look at the enterprise to sales, we see a ratio of 6.89. The receivables turnover for the company is 4.56for trailing twelve months and the total asset turnover is 0.25. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.76.
Conclusion
To sum up, Western Midstream Partners LP (WES) has seen a better performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
