Chicago Partners Investment Group LLC Purchases 573 Shares of Western Midstream Partners, LP $WES

Chicago Partners Investment Group LLC grew its holdings in shares of Western Midstream Partners, LP (NYSE:WES) by 2.6% in the second quarter, HoldingsChannel.com reports. The fund owned 22,598 shares of the pipeline company’s stock after purchasing an additional 573 shares during the period. Chicago Partners Investment Group LLC’s holdings in Western Midstream Partners were worth $904,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Financial Network Wealth Advisors LLC lifted its stake in Western Midstream Partners by 1,856.4% during the first quarter. Financial Network Wealth Advisors LLC now owns 763 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 724 shares during the last quarter. Bessemer Group Inc. bought a new stake in Western Midstream Partners in the first quarter valued at $41,000. Sound Income Strategies LLC purchased a new position in shares of Western Midstream Partners during the second quarter valued at about $39,000. Ameritas Advisory Services LLC bought a new position in shares of Western Midstream Partners in the 2nd quarter worth approximately $49,000. Finally, Iron Horse Wealth Management LLC purchased a new position in Western Midstream Partners during the second quarter valued at $58,000. 84.82% of the stock is owned by institutional investors.

Western Midstream Partners Price Performance

WES stock opened at $37.65 on Wednesday. The firm has a market capitalization of $14.36 billion, a P/E ratio of 11.58 and a beta of 1.12. Western Midstream Partners, LP has a 52 week low of $33.60 and a 52 week high of $43.33. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 2.08. The company has a fifty day simple moving average of $38.41 and a two-hundred day simple moving average of $38.43.

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

Western Midstream Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be given a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 9.7%. The ex-dividend date of this dividend is Friday, October 31st. Western Midstream Partners’s dividend payout ratio is 112.00%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Citigroup started coverage on Western Midstream Partners in a research report on Monday. They set a “neutral” rating and a $39.00 price objective for the company. Mizuho raised their target price on Western Midstream Partners from $44.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, August 29th. Royal Bank Of Canada raised their price objective on Western Midstream Partners from $38.00 to $39.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 26th. Finally, Morgan Stanley cut their price target on 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 analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $40.00.

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.