The stock price of Western Midstream Partners LP (NYSE: WES) has dropped by -3.66 compared to previous close of 38.53. Despite this, the company has seen a fall of -1.62% in its stock price over the last five trading days. prnewswire.com reported 2024-11-06 that Reported third-quarter 2024 Net income attributable to limited partners of $281.8 million, generating third-quarter Adjusted EBITDA(1) of $566.9 million. Reported third-quarter 2024 Cash flows provided by operating activities of $551.3 million, generating third-quarter Free cash flow(1) of $365.1 million.
Is It Worth Investing in Western Midstream Partners LP (NYSE: WES) Right Now?
Western Midstream Partners LP (NYSE: WES) has a price-to-earnings ratio of 9.58x that is above its average ratio. Additionally, the 36-month beta value for WES is 2.84. There are mixed opinions on the stock, with 7 analysts rating it as a “buy,” 4 rating it as “overweight,” 6 rating it as “hold,” and 0 rating it as “sell.”
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The public float for WES is 210.68M and currently, short sellers hold a 1.92% ratio of that float. The average trading volume of WES on November 07, 2024 was 1.27M shares.
WES’s Market Performance
WES’s stock has seen a -1.62% decrease for the week, with a -5.98% drop in the past month and a -6.22% fall in the past quarter. The volatility ratio for the week is 1.86%, and the volatility levels for the past 30 days are at 1.70% for Western Midstream Partners LP. The simple moving average for the past 20 days is -2.85% for WES’s stock, with a 0.91% simple moving average for the past 200 days.
Analysts’ Opinion of WES
Many brokerage firms have already submitted their reports for WES stocks, with Morgan Stanley repeating the rating for WES by listing it as a “Underweight.” The predicted price for WES in the upcoming period, according to Morgan Stanley is $40 based on the research report published on October 25, 2024 of the current year 2024.
BofA Securities, on the other hand, stated in their research note that they expect to see WES reach a price target of $37. The rating they have provided for WES stocks is “Underperform” according to the report published on October 17th, 2024.
Morgan Stanley gave a rating of “Equal-Weight” to WES, setting the target price at $42 in the report published on September 16th of the current year.
WES Trading at -3.63% 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 -13.27% of loss for the given period.
Volatility was left at 1.70%, however, over the last 30 days, the volatility rate increased by 1.86%, as shares sank -6.32% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -1.36% lower at present.
During the last 5 trading sessions, WES fell by -2.12%, which changed the moving average for the period of 200-days by +27.48% in comparison to the 20-day moving average, which settled at $38.20. In addition, Western Midstream Partners LP saw 26.86% 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 OCCIDENTAL PETROLEUM CORP /DE/, who sale 19,500,000 shares at the price of $35.75 back on Aug 14 ’24. After this action, OCCIDENTAL PETROLEUM CORP /DE/ now owns 165,681,578 shares of Western Midstream Partners LP, valued at $697,125,000 using the latest closing price.
OCCIDENTAL PETROLEUM CORP /DE/, the 10% Owner of Western Midstream Partners LP, sale 19,500,000 shares at $35.75 during a trade that took place back on Aug 14 ’24, which means that OCCIDENTAL PETROLEUM CORP /DE/ is holding 165,681,578 shares at $697,125,000 based on the most recent closing price.
Stock Fundamentals for WES
Current profitability levels for the company are sitting at:
- 0.44 for the present operating margin
- 0.59 for the gross margin
The net margin for Western Midstream Partners LP stands at 0.44. The total capital return value is set at 0.13. Equity return is now at value 48.02, with 12.67 for asset returns.
Based on Western Midstream Partners LP (WES), the company’s capital structure generated 0.68 points at debt to capital in total, while cash flow to debt ratio is standing at 0.27. The debt to equity ratio resting at 2.17. The interest coverage ratio of the stock is 4.2.
Currently, EBITDA for the company is 1.89 billion with net debt to EBITDA at 3.17. When we switch over and look at the enterprise to sales, we see a ratio of 6.09. The receivables turnover for the company is 4.91for trailing twelve months and the total asset turnover is 0.28. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.68.
Conclusion
In conclusion, Western Midstream Partners LP (WES) has seen mixed performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
