Westwood Holdings Group Inc. Buys 397 Shares of Western Midstream Partners, LP (NYSE:WES)

Westwood Holdings Group Inc. lifted its position in shares of Western Midstream Partners, LP (NYSE:WES) by 0.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,810,211 shares of the pipeline company’s stock after buying an additional 397 shares during the quarter. Westwood Holdings Group Inc. owned approximately 0.48% of Western Midstream Partners worth $71,920,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in WES. Blackstone Inc. raised its stake in Western Midstream Partners by 2.0% in the first quarter. Blackstone Inc. now owns 12,980,724 shares of the pipeline company’s stock worth $461,465,000 after buying an additional 259,928 shares in the last quarter. Chickasaw Capital Management LLC lifted its stake in shares of Western Midstream Partners by 0.6% during the 2nd quarter. Chickasaw Capital Management LLC now owns 6,711,006 shares of the pipeline company’s stock worth $266,628,000 after purchasing an additional 37,259 shares during the last quarter. Kayne Anderson Capital Advisors LP boosted its holdings in shares of Western Midstream Partners by 27.4% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 4,165,829 shares of the pipeline company’s stock valued at $148,095,000 after buying an additional 895,715 shares in the last quarter. BROOKFIELD Corp ON boosted its position in shares of Western Midstream Partners by 2.7% in the 1st quarter. BROOKFIELD Corp ON now owns 2,953,510 shares of the pipeline company’s stock worth $104,997,000 after purchasing an additional 77,942 shares in the last quarter. Finally, Jennison Associates LLC boosted its holdings in Western Midstream Partners by 96.0% in the first quarter. Jennison Associates LLC now owns 1,928,179 shares of the pipeline company’s stock worth $68,547,000 after acquiring an additional 944,494 shares in the last quarter. 42.94% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

WES has been the topic of several research analyst reports. Morgan Stanley downgraded shares of Western Midstream Partners from an “overweight” rating to an “equal weight” rating and set a $42.00 target price on the stock. in a research report on Monday, September 16th. Stifel Nicolaus lifted their price objective on shares of Western Midstream Partners from $39.00 to $40.00 and gave the company a “hold” rating in a research note on Friday, August 9th. StockNews.com lowered Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a report on Tuesday. UBS Group upped their target price on Western Midstream Partners from $38.00 to $39.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Royal Bank of Canada upped their price objective on shares of Western Midstream Partners from $36.00 to $38.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 27th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $36.75.

Insiders Place Their Bets

In other Western Midstream Partners news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total value of $697,125,000.00. Following the completion of the transaction, the insider now owns 165,681,578 shares in the company, valued at $5,923,116,413.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.04% of the stock is owned by corporate insiders.

Western Midstream Partners Stock Performance

Shares of WES stock opened at $38.72 on Friday. The firm has a 50 day moving average of $39.21 and a two-hundred day moving average of $37.65. The stock has a market capitalization of $14.73 billion, a PE ratio of 10.91, a P/E/G ratio of 0.75 and a beta of 2.87. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.08. Western Midstream Partners, LP has a 52 week low of $26.14 and a 52 week high of $42.80.

Western Midstream Partners (NYSE:WES) last released its earnings results on Wednesday, August 7th. The pipeline company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.88 by $0.09. The firm had revenue of $905.63 million during the quarter, compared to analysts’ expectations of $904.94 million. Western Midstream Partners had a return on equity of 47.19% and a net margin of 44.01%. Western Midstream Partners’s revenue for the quarter was up 22.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.64 EPS. On average, research analysts predict that Western Midstream Partners, LP will post 4.16 EPS for the current fiscal year.

Western Midstream Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st were given a dividend of $0.875 per share. This represents a $3.50 annualized dividend and a dividend yield of 9.04%. The ex-dividend date was Thursday, August 1st. Western Midstream Partners’s dividend payout ratio (DPR) is presently 98.59%.

Western Midstream Partners Company Profile

Western Midstream Partners, LP, together with its subsidiaries, operates as a midstream energy company primarily in the United States. It is involved in gathering, compressing, treating, processing, and transporting natural gas; gathering, stabilizing, and transporting condensate, natural gas liquids (NGLs), and crude oil; and gathering and disposing produced water.