On Thursday, Western Midstream Partners LP [NYSE:WES] has a current price of $8.85, coming out to a daily percentage change of 5.99% with a 52-week range of $2.90 – $24.45.
Other data for the company is as follows:
- Stochastic %K of 84.9
- Weighted Alpha of -47.3
Analysts have the price target for Western Midstream Partners LP [WES] at 11.61. Daily swings are between $8.30 and $8.90.
The Price is right
Holding a Market Cap of $3.83 billion, Western Midstream Partners LP has seen a trading range over the last year of $2.90-$24.45.
For the last five days, WES is up from its last closing price. The average shares trading hands each day is 1.51M.
Using a Force Index Indicator is a good way to look at how strong actual buying and selling pressure is for WES. When we apply the Elder Force Index to Western Midstream Partners LP, we are seeing an Elder Force Indicator number of 1026525.5.
Recent Performance
The recent performance of the stock is another area that can tell traders how to proceed. WES is presenting an interesting case. This can be seen in the Forward P/E ratio, which currently stands at 4.82.
In the last quarter, WES made a profit of 373.77 million. Western Midstream Partners LP also saw quarter revenue growth year over year of 19.04%.
Technical Analysis
Looking at popular technical indicators, the company’s 5-day moving average is 8.38 compared to the 50-day moving average of 1.89%. So, we are clearly seeing an upward trajectory here.
The Relative Strength Index or RSI is an indicator ranging between 0 and 100 that traders use to determine if a stock is “overbought” or “oversold.” A strong uptrend tending to reach into the “overbought” status is above 70, while a downward trend will stay around the 30 mark. WES currently holds a 9-day RSI of 70.63%, while 100-day RSI stands at 45.89%.
Another indicator we believe is worth keeping tabs on is the Moving Average Convergence Divergence or MACD. Similar to the concept of the Force Index — on the basis of price momentum — the MACD gives traders a tool to measure the turning point of a stock even during rapid fluctuations in price. Buy and sell signals are determined by a stock’s relation to the zero line, so if a stock is above a zero line for many weeks it might be a “buy.” On the other hand, if a stock is below the zero line consistently, it might be one to stay away from. Also, if the MACD line reaches a peak and dips, its momentum may be waning. WES’s 9-day MACD is 0.35 and the company’s 100-day MACD stands at -0.90.
Inside Moves
Another area that is important to analyze is insider moves and majority shareholders. While this is not always an error-free way to tell what the future holds for a stock, you can maybe gather important information from reading the tea leaves about who is buying and selling.
The major holders for this stock are 54.76% by insiders and 40.33% by institutions. Regarding institutional holdings, Alps Advisors Inc. owns 5.53%, while the second top holder, Invesco Ltd., currently owns 5.16%.
Over the last six months, insiders have bought 10,000 with the most recent transaction from Ure Michael, President & CEO, with a purchase at price 5.45 per share.
Conclusion
Overall, the recommended rating for WES is Moderate Buy. Currently, the company has 12 analysts watching the stock, and the average quarterly earnings estimate is 0.49. Quarterly revenue estimates are averaging 675.28M with the high estimate reaching 753.83M and the low at 611.79M.
To review, the current 1-year target estimate is sitting at 11.61, while the current price 8.85. Based on this, we expect the stock to rise considering the aforementioned fundamentals.
