DRW Securities LLC Sells 19,285 Shares of Western Midstream Partners, LP (NYSE:WES)

DRW Securities LLC cut its position in Western Midstream Partners, LP (NYSE:WES) by 70.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,915 shares of the pipeline company’s stock after selling 19,285 shares during the quarter. DRW Securities LLC’s holdings in Western Midstream Partners were worth $314,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Eagle Bay Advisors LLC purchased a new position in shares of Western Midstream Partners in the 1st quarter worth approximately $29,000. American National Bank grew its holdings in Western Midstream Partners by 34.5% in the first quarter. American National Bank now owns 1,190 shares of the pipeline company’s stock worth $42,000 after purchasing an additional 305 shares during the last quarter. Retirement Group LLC increased its position in shares of Western Midstream Partners by 40.2% during the first quarter. Retirement Group LLC now owns 1,591 shares of the pipeline company’s stock worth $57,000 after purchasing an additional 456 shares in the last quarter. EverSource Wealth Advisors LLC purchased a new stake in shares of Western Midstream Partners during the 2nd quarter valued at $74,000. Finally, Triad Wealth Partners LLC acquired a new stake in shares of Western Midstream Partners in the 2nd quarter worth $78,000. 42.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Western Midstream Partners

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

Wall Street Analyst Weigh In

Several research analysts recently issued reports on WES shares. StockNews.com lowered Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 17th. UBS Group upped their price objective on shares of Western Midstream Partners from $38.00 to $39.00 and gave the company a “neutral” rating in a report on Wednesday, September 18th. Stifel Nicolaus lifted their target price on shares of Western Midstream Partners from $39.00 to $40.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. Royal Bank of Canada upped their price target 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. Finally, Morgan Stanley downgraded shares of Western Midstream Partners from an “overweight” rating to an “equal weight” rating and set a $42.00 price objective for the company. in a research note on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $36.75.

Western Midstream Partners Trading Up 1.2 %

NYSE WES opened at $39.20 on Tuesday. The company has a fifty day moving average of $39.16 and a 200 day moving average of $37.72. The company has a market capitalization of $14.91 billion, a PE ratio of 11.04, a P/E/G ratio of 0.75 and a beta of 2.87. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.68 and a quick ratio of 1.68. Western Midstream Partners, LP has a 1 year low of $26.14 and a 1 year high of $42.80.

Western Midstream Partners (NYSE:WES) last released its quarterly earnings data 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 business had revenue of $905.63 million for the quarter, compared to analyst estimates of $904.94 million. Western Midstream Partners had a return on equity of 47.19% and a net margin of 44.01%. The business’s quarterly revenue was up 22.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.64 EPS. Research analysts forecast that Western Midstream Partners, LP will post 4.16 earnings per share for the current year.

Western Midstream Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 1st were given a dividend of $0.875 per share. The ex-dividend date was Thursday, August 1st. This represents a $3.50 annualized dividend and a yield of 8.93%. Western Midstream Partners’s dividend payout ratio is presently 98.59%.

Western Midstream Partners 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.