Western Midstream Partners, LP (NYSE:WES) Stock Holdings Lifted by SL Advisors LLC

SL Advisors LLC lifted its position in Western Midstream Partners, LP (NYSE:WES) by 4.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 24,177 shares of the pipeline company’s stock after acquiring an additional 952 shares during the quarter. Western Midstream Partners makes up about 1.7% of SL Advisors LLC’s holdings, making the stock its 17th biggest holding. SL Advisors LLC’s holdings in Western Midstream Partners were worth $925,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WES. Sanctuary Advisors LLC purchased a new stake in shares of Western Midstream Partners in the second quarter valued at $694,000. Truist Financial Corp raised its position in Western Midstream Partners by 1.9% during the second quarter. Truist Financial Corp now owns 22,508 shares of the pipeline company’s stock valued at $894,000 after buying an additional 421 shares during the period. Duff & Phelps Investment Management Co. purchased a new stake in Western Midstream Partners in the 2nd quarter worth about $397,000. Daymark Wealth Partners LLC purchased a new stake in Western Midstream Partners in the 2nd quarter worth about $1,244,000. Finally, Sfmg LLC acquired a new stake in Western Midstream Partners during the 2nd quarter worth about $205,000. Institutional investors and hedge funds own 42.94% of the company’s stock.

Insider Transactions at Western Midstream Partners

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the transaction, the insider now owns 165,681,578 shares of the company’s stock, valued at approximately $5,923,116,413.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.04% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on WES. Stifel Nicolaus upped their target price on Western Midstream Partners from $39.00 to $40.00 and gave the company a “hold” rating in a report on Friday, August 9th. StockNews.com upgraded shares of Western Midstream Partners from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 4th. Royal Bank of Canada lifted their target price on shares of Western Midstream Partners from $36.00 to $38.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 27th. Morgan Stanley downgraded shares of Western Midstream Partners from an “overweight” rating to an “equal weight” rating and set a $42.00 price target on the stock. in a research note on Monday, September 16th. Finally, UBS Group increased their price objective on Western Midstream Partners from $38.00 to $39.00 and gave the stock a “neutral” rating in a report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Western Midstream Partners currently has an average rating of “Hold” and an average price target of $36.75.

Western Midstream Partners Trading Down 1.8 %

Shares of NYSE:WES opened at $39.15 on Wednesday. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.08. The stock has a market capitalization of $14.90 billion, a PE ratio of 11.03, a P/E/G ratio of 0.74 and a beta of 2.87. Western Midstream Partners, LP has a 1 year low of $26.49 and a 1 year high of $42.80. The firm has a fifty day moving average price of $38.60 and a 200 day moving average price of $38.06.

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

Western Midstream Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st were given a $0.875 dividend. This represents a $3.50 annualized dividend and a yield of 8.94%. The ex-dividend date was Thursday, August 1st. Western Midstream Partners’s dividend payout ratio is currently 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.