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Honey At Western Midstream Partners LP (WES) Is Worth Your Money

Western Midstream Partners LP (NYSE:WES) price on Friday, March 17, rose 0.44% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $25.31.

A look at the stock’s price movement, the close in the last trading session was $25.20, moving within a range at $24.31 and $25.38. The beta value (5-Year monthly) was 2.71 while the PE ratio in trailing twelve months stood at 8.42. Turning to its 52-week performance, $29.50 and $21.95 were the 52-week high and 52-week low respectively. Overall, WES moved -11.41% over the past month.

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Western Midstream Partners LP’s market cap currently stands at around $9.85 billion, with investors looking forward to this quarter’s earnings report slated for May 08, 2023 – May 12, 2023. The company has a Forward Dividend ratio of 2.00, with its dividend yield at 7.90%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report. Analysts project the company’s earnings per share (EPS) to be $0.73, which has seen fiscal year 2022 EPS growth forecast to increase to $2.9 and about $3.1 for fiscal year 2023. Per the data, EPS growth is expected to be 33.00% for 2023 and 6.90% for the next financial year.

Analysts have a consensus estimate of $839.52 million for the company’s revenue for the quarter, with a low and high estimate of $772 million and $881.9 million respectively. The average forecast suggests up to a 16.70% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue for 2022 to grow to $3.27 billion, representing a 13.80% jump on that reported in the last financial year.

Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was no upward and no downward review(s). Turning to the stock’s technical picture we see that short term indicators suggest on average that WES is a 100% Sell. On the other hand, the stock is on average a 50% Buy as suggested by medium term indicators while long term indicators are putting the stock in 50% Sell category.

The technical evaluation for the stock shows the PEG ratio is 0.53, with WES’s current price about -4.49% and -6.88% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 38.06, while 7-day volatility ratio is 5.35% and 3.70% in the 30-day chart. Further, Western Midstream Partners LP (WES) has a beta value of 2.70, and an average true range (ATR) of 0.98.

In the market, a comparison of Western Midstream Partners LP (WES) and its peers suggest the former has performed considerably stronger. Data shows WES’s intraday price has changed 0.44% in last session and 8.07% over the past year. Elsewhere, the overall performance for the S&P 500 and Dow Jones Industrial shows that the indexes are down -1.10% and -1.19% respectively in the last trading.

If we refocus on Western Midstream Partners LP (NYSE:WES), historical trading data shows that trading volumes averaged 1.17 million over the past 10 days and 984.42K over the past 3 months. The company’s latest data on shares outstanding shows there are 384.77 million shares.

The 0.10% of Western Midstream Partners LP’s shares are in the hands of company insiders while institutional holders own 92.30% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 6.72 million on Jan 12, 2023, giving us a short ratio of 7.23. The data shows that as of Jan 12, 2023 short interest in Western Midstream Partners LP (WES) stood at 1.75% of shares outstanding, with shares short rising to 6.15 million registered in Dec 14, 2022. Current price change has pushed the stock -5.74% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the WES stock continues to rise going into the next quarter.

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