Western Midstream Partners LP (NYSE:WES) finished Wednesday with a subtraction of -$0.6 to close at $27.38, a downside of -2.14 percent. An average of 1,403,800 shares of common stock have been traded in the last five days. There was a fall of -$0.54 in the past week, and it reached a new high 6 times over the past 12 months. The last 20 days have seen an average of 981,980 shares traded, while the 50-day average volume stands at 940,066.
WES stock has increased by 1.03% in the last month. The company shares reached their 1-month lowest point of $26.17 on 08/09/23. With the stock rallying to its 52-week high on 01/24/23, shares of the company touched a low of $22.94 and a high of $28.80 in 52 weeks. It has reached a new high 7 times so far this year and achieved 3.33% or $0.53 in price. In spite of this, the price is down -4.92% from the 52-week high.
Top 5 AI Stocks to Buy for 2023
The artificial intelligence (AI) revolution is already here. And it's about to change everything we know about everything.
According to Grand View Research, the global AI boom could grow from about $137 billion in 2022 to more than $1.81 trillion by 2030. And investors like you always want to get in on the hottest stocks of tomorrow. Here are five of the best ways to profit from the AI boom.
Click Here to Download the FREE Report.
Sponsored
Valuation Metrics
Western Midstream Partners LP (WES) has a trailing price-to-earnings (P/E) ratio of 9.87. The stock’s beta is 2.67. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 3.31, the price-to-book (PB) ratio at 3.55, and the price-to-cash flow ratio at 30.24.
The company has a payout ratio of 71.90%. The company’s most recent quarterly dividend payment was $0.5625 a share, representing a down of -34.29% from $0.8560 last year. Its latest decrease dividend $0.2935 reported on Friday July 21 2023.
Financial Health
The quick ratio of Western Midstream Partners LP for the three months ended March 30 was 1.30, and the current ratio was 1.30, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 2.26 and a total debt to equity ratio of 2.26 for the quarter ending March 30. Western Midstream Partners LP’s EBITDA margin for the year ending March 30 is 58.54%, while its operating margin for the same period stands at 45.70%. Its gross profit as reported stood at $1.59 billion compared to revenue of $3.25 billion.
Earnings Surprise
For the three-month period that ended March 30, Western Midstream Partners LP had $6.82 billion in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $247.1 million in the quarter, while revenues of $198.96 million were shrunk -21.23%. The analyst consensus anticipated Western Midstream Partners LP’s latest quarter earnings to come in at $0.64 per share, but it turned out to be $0.52, a -18.80% surprise. For the quarter, EBITDA amounted to $482.57 million. At the end of the quarter ending March 30, Western Midstream Partners LP’s stock balance sheet showed total liabilities of 8.2 billion. Shareholders own equity worth $384.62 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Western Midstream Partners LP (WES) price momentum. RSI 9-day as of the close on 09 August was 39.11%, suggesting the stock is Neutral, with historical volatility in this time frame at 15.81%.
As of today, WES’s price is $27.88 -1.93% or -$0.54 from its 5-day moving average. WES is currently trading +1.26% higher than its 20-day SMA and +8.65% higher than its 100-day SMA. However, the stock’s current price level is +6.08% above the SMA50 and -0.15% below the SMA200.
The stochastic %K and %D were 46.92% and 48.12%, respectively, and the average true range (ATR) was 0.76. With the 14-day stochastic at 47.08% and the average true range at 0.69, the RSI (14) stands at 46.25%. The stock has reached -0.21 on the 9-day MACD Oscillator while the 14-day reading was at -0.28.
Analyst Ratings
JP Morgan downgraded Western Midstream Partners LP (NYSE: WES) to a a Neutral rating in its most recent analyst report. Previously, the stock was rated as an Overweight. The consensus rating for Western Midstream Partners LP (WES) among analysts is Overweight. According to current brokerage recommendations, 1 brokerage firm advise that investors sell WES, while 3 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 3 analysts, while 8 others rate it as a “buy”.
What is WES’s price target for the next 12 months?
Analysts predict a range of price targets between $25.00 and $36.00, with a median target of $32.00. Taking a look at these predictions, the average price target given by analysts for Western Midstream Partners LP (WES) stock is $31.60.
