Kingsview Wealth Management LLC Increases Stake in Western Midstream Partners, LP (NYSE:WES)

Kingsview Wealth Management LLC lifted its stake in Western Midstream Partners, LP (NYSE:WES) by 8.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,619 shares of the pipeline company’s stock after purchasing an additional 839 shares during the period. Kingsview Wealth Management LLC’s holdings in Western Midstream Partners were worth $406,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of WES. Kayne Anderson Capital Advisors LP grew its holdings in Western Midstream Partners by 23.5% during the third quarter. Kayne Anderson Capital Advisors LP now owns 6,228,448 shares of the pipeline company’s stock valued at $238,300,000 after purchasing an additional 1,184,597 shares during the period. ING Groep NV lifted its position in shares of Western Midstream Partners by 81.0% during the 3rd quarter. ING Groep NV now owns 746,587 shares of the pipeline company’s stock valued at $28,564,000 after buying an additional 334,187 shares in the last quarter. Citigroup Inc. lifted its position in shares of Western Midstream Partners by 322.1% during the 3rd quarter. Citigroup Inc. now owns 406,587 shares of the pipeline company’s stock valued at $15,556,000 after buying an additional 310,260 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its stake in shares of Western Midstream Partners by 10.1% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,315,472 shares of the pipeline company’s stock valued at $50,330,000 after acquiring an additional 120,202 shares during the period. Finally, Fractal Investments LLC increased its holdings in Western Midstream Partners by 5.4% in the 3rd quarter. Fractal Investments LLC now owns 1,465,706 shares of the pipeline company’s stock worth $56,078,000 after acquiring an additional 75,145 shares in the last quarter. 42.94% of the stock is currently owned by hedge funds and other institutional investors.

Western Midstream Partners Stock Up 2.3 %

Shares of WES stock opened at $39.63 on Friday. The stock has a market cap of $15.08 billion, a P/E ratio of 10.11, a PEG ratio of 1.04 and a beta of 2.88. Western Midstream Partners, LP has a 52 week low of $26.81 and a 52 week high of $42.80. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.05. The company’s fifty day simple moving average is $38.27 and its two-hundred day simple moving average is $38.73.

Western Midstream Partners (NYSE:WES) last announced its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.74 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.09). The company had revenue of $883.36 million during the quarter, compared to analysts’ expectations of $924.83 million. Western Midstream Partners had a return on equity of 46.02% and a net margin of 42.99%. The firm’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.70 EPS. Analysts predict that Western Midstream Partners, LP will post 4.09 EPS for the current fiscal year.

Western Midstream Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were given a dividend of $0.875 per share. This represents a $3.50 annualized dividend and a dividend yield of 8.83%. The ex-dividend date of this dividend was Friday, November 1st. Western Midstream Partners’s dividend payout ratio is 89.29%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. UBS Group lowered their price target on shares of Western Midstream Partners from $40.00 to $37.00 and set a “neutral” rating on the stock in a report on Friday, November 15th. Morgan Stanley downgraded shares of Western Midstream Partners from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $42.00 to $40.00 in a report on Friday, October 25th. Bank of America assumed coverage on shares of Western Midstream Partners in a report on Thursday, October 17th. They issued an “underperform” rating and a $37.00 target price for the company. US Capital Advisors raised shares of Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a report on Tuesday. Finally, Stifel Nicolaus upped their target price on shares of Western Midstream Partners from $39.00 to $40.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $37.88.

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.