|Over a week ago|
Western Midstream 10M share Spot Secondary priced at $17.35 » 06:1203/2303/23/21
The deal size was…
The deal size was increased to 10M shares from 8M shares and the range was $17.35-$17.70. BofA acted as sole book running manager for the offering.
Fly Intel: After-Hours Movers » 18:3803/2203/22/21
BLFS, GHLD, KODK, DSP, RAVN, IONS, XGN, QS, PLL, MP, WES, VRCA
Check out this evening's…
Western Midstream announces offering of 8M common units for holders » 16:2303/2203/22/21
Western Midstream Partners announced the commencement of an underwritten secondary public offering of 8M common units representing limited partner interests in WES by an affiliate of Occidental Petroleum Corporation. BofA Securities is acting as the sole book-running manager for the offering.
|Over a month ago|
Western Midstream upgraded to Overweight from Neutral at JPMorgan » 07:1603/1203/12/21
JPMorgan analyst Jeremy…
JPMorgan analyst Jeremy Tonet upgraded Western Midstream Partners to Overweight from Neutral with a $25 price target. The company's "flourishing" free cash flow provides deleveraging and buybacks at a "discounted" valuation, Tonet tells investors in a research note. The analyst sees "more room to run" in the shares.
Western Midstream price target raised to $22 from $19 at Barclays » 06:5503/0503/05/21
Barclays analyst Christopher Tillett raised the firm's price target on Western Midstream Partners to $22 from $19 and keeps an Overweight rating on the shares. The company's cash flow profile "leads the pack," having generated north of $500M in excess free cash flow in 2020 despite the challenging macro backdrop by taking decisive actions to prudently manage the business, Tillett tells investors in a research note.
Western Midstream sees FY21 adjusted EBITDA $1.825B-$1.925B » 16:2202/2302/23/21
Sees FY21: Total capital…
Sees FY21: Total capital expenditures between $275M-$375M; Debt to Trailing Twelve Month Adjusted EBITDA at or below 4.0 times at year-end 2021; Full-year 2021 distributions of at least $1.24 per unit.
Western Midstream reports Q4 EPS 62c, consensus 58c » 16:2102/2302/23/21
Reports Q4 revenue…
Reports Q4 revenue $647.48M, consensus $687.27M.
Western Midstream resumed with a Sector Perform at Scotiabank » 08:5302/0102/01/21
Scotiabank analyst Alonso…
Scotiabank analyst Alonso Guerra-Garcia resumed coverage of Western Midstream with a Sector Perform rating and $21 price target. While an improved free cash flow profile has Western "well on its way to de-leveraging and buying back units," he is cautious on single-sponsor risk and "outsized exposure" to the Denver-Julesburg basin, the analyst tells investors.
Western Midstream upgraded to Neutral from Underperform at BofA » 05:5401/2601/26/21
BofA upgraded Western…
BofA upgraded Western Midstream to Neutral from Underperform with a $16 price target.
Western Midstream price target raised to $22 from $15 at Mizuho » 07:1701/2001/20/21
Mizuho analyst Gabriel…
Mizuho analyst Gabriel Moreen raised the firm's price target on Western Midstream to $22 from $15 and keeps a Buy rating on the shares. 2020 may have "accelerated the maturation of a midstream sector previously accustomed to outspending cash flow and accelerated the forced a reset of its business strategy for the better," Moreen tells investors in a research note. Moving into 2021, the analyst expects heightened emphasis on capital discipline and free cash flow generation "that can continue the drive to remove the sector's leverage overhang once and for all." Beside a "surprisingly supportive" commodity backdrop, further catalysts may come from needed sector consolidation, says Moreen.