Morgan Stanley Stick to Their Sell Rating for Western Midstream Partners By Investing.com

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Morgan Stanley Stick to Their Sell Rating for Western Midstream Partners

Dec 11, 2020 11:48AM ET

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Morgan Stanley (NYSE:MS) analyst Devin McDermott maintained a Sell rating on Western Midstream Partners (NYSE:WES) on Friday, setting a price target of $15, which is approximately 5.60% below the present share price of $15.89.

McDermott expects Western Midstream Partners to post earnings per share (EPS) of $0.55 for the fourth quarter of 2020.

The current consensus among 9 TipRanks analysts is for a Moderate Buy rating of shares in Western Midstream Partners, with an average price target of $15.44.
The analysts price targets range from a high of $18 to a low of $12.

In its latest earnings report, released on 09/30/2020, the company reported a quarterly revenue of $679.04 million and a net profit of $321.48 million. The company's market cap is $6.55 billion.

According to TipRanks.com, Morgan Stanley analyst Devin McDermott is currently ranked with 2 stars on a 0-5 stars ranking scale, with an average return of 0.1% and a 46.03% success rate.

Western Midstream Partners LP owns, operates, acquires and develops midstream energy assets. It engages in the business of gathering, processing, compressing, treating, and transporting natural gas, condensate, natural gas liquids, and crude oil for Anadarko, as well as third-party producers and customers. The company was founded in 2007 and is headquartered in The Woodlands, TX.

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