IFP Advisors Inc Grows Position in Western Midstream Partners, LP $WES

IFP Advisors Inc boosted its stake in shares of Western Midstream Partners, LP (NYSE:WES) by 4.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,757 shares of the pipeline company’s stock after purchasing an additional 459 shares during the period. IFP Advisors Inc’s holdings in Western Midstream Partners were worth $416,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Blair William & Co. IL grew its position in Western Midstream Partners by 86.8% during the 2nd quarter. Blair William & Co. IL now owns 17,390 shares of the pipeline company’s stock worth $673,000 after purchasing an additional 8,079 shares during the last quarter. Tectonic Advisors LLC grew its position in Western Midstream Partners by 2.3% during the 2nd quarter. Tectonic Advisors LLC now owns 142,430 shares of the pipeline company’s stock worth $5,512,000 after purchasing an additional 3,223 shares during the last quarter. Maryland State Retirement & Pension System grew its position in Western Midstream Partners by 6.5% during the 2nd quarter. Maryland State Retirement & Pension System now owns 175,260 shares of the pipeline company’s stock worth $6,783,000 after purchasing an additional 10,664 shares during the last quarter. Iron Horse Wealth Management LLC purchased a new stake in Western Midstream Partners during the 2nd quarter worth approximately $58,000. Finally, Ameritas Advisory Services LLC purchased a new stake in Western Midstream Partners during the 2nd quarter worth approximately $49,000. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Western Midstream Partners Stock Performance

WES opened at $37.60 on Wednesday. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.30 and a quick ratio of 1.30. The firm has a fifty day moving average price of $38.48 and a 200 day moving average price of $38.51. Western Midstream Partners, LP has a 1 year low of $33.60 and a 1 year high of $43.33. The stock has a market cap of $14.34 billion, a P/E ratio of 11.57 and a beta of 1.12.

Western Midstream Partners (NYSE:WES) last posted its earnings results on Wednesday, August 6th. The pipeline company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.05. Western Midstream Partners had a net margin of 34.45% and a return on equity of 37.70%. The firm had revenue of $942.32 million during the quarter, compared to analysts’ expectations of $954.17 million. During the same period in the previous year, the business posted $0.97 EPS. The business’s revenue was up 4.1% compared to the same quarter last year. Equities research analysts anticipate that Western Midstream Partners, LP will post 4.02 earnings per share for the current year.

Western Midstream Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Friday, August 1st were issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 9.7%. The ex-dividend date of this dividend was Friday, August 1st. Western Midstream Partners’s dividend payout ratio (DPR) is presently 112.00%.

Wall Street Analysts Forecast Growth

WES has been the topic of several research analyst reports. Royal Bank Of Canada boosted their target price on shares of Western Midstream Partners from $38.00 to $39.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 26th. Mizuho lifted their price objective on shares of Western Midstream Partners from $44.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, August 29th. Finally, Morgan Stanley decreased their price objective on shares of Western Midstream Partners from $41.00 to $39.00 and set an “underweight” rating for the company in a research note on Tuesday, August 26th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $39.60.

About Western Midstream Partners

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.