Maryland State Retirement & Pension System Grows Stock Holdings in Western Midstream Partners, LP $WES

Maryland State Retirement & Pension System boosted its stake in Western Midstream Partners, LP (NYSE:WES) by 12.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 197,949 shares of the pipeline company’s stock after purchasing an additional 22,689 shares during the period. Maryland State Retirement & Pension System owned approximately 0.05% of Western Midstream Partners worth $7,777,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quantum Financial Planning Services Inc. bought a new position in Western Midstream Partners in the 2nd quarter worth $310,000. Advisors Asset Management Inc. increased its position in Western Midstream Partners by 17.2% in the second quarter. Advisors Asset Management Inc. now owns 157,099 shares of the pipeline company’s stock worth $6,080,000 after buying an additional 23,023 shares in the last quarter. Catalyst Capital Advisors LLC increased its position in Western Midstream Partners by 2.4% in the second quarter. Catalyst Capital Advisors LLC now owns 472,420 shares of the pipeline company’s stock worth $18,283,000 after buying an additional 11,055 shares in the last quarter. Stephens Inc. AR raised its stake in shares of Western Midstream Partners by 215.4% in the second quarter. Stephens Inc. AR now owns 131,361 shares of the pipeline company’s stock worth $5,084,000 after buying an additional 89,707 shares during the period. Finally, Blair William & Co. IL lifted its position in shares of 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 valued at $673,000 after buying an additional 8,079 shares in the last quarter. 84.82% of the stock is owned by institutional investors.

Western Midstream Partners Stock Down 0.1%

Shares of NYSE:WES opened at $41.61 on Friday. The company has a market cap of $16.98 billion, a price-to-earnings ratio of 12.31 and a beta of 0.76. Western Midstream Partners, LP has a 12 month low of $33.60 and a 12 month high of $43.33. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 2.08. The company has a 50-day moving average price of $39.59 and a 200 day moving average price of $39.07.

Western Midstream Partners (NYSE:WES) last issued its quarterly earnings data on Tuesday, November 4th. The pipeline company reported $0.87 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.87. The business had revenue of $952.48 million for the quarter, compared to the consensus estimate of $965.55 million. Western Midstream Partners had a return on equity of 39.37% and a net margin of 35.18%.The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.74 earnings per share. As a group, equities research analysts predict that Western Midstream Partners, LP will post 4.02 earnings per share for the current year.

Analyst Upgrades and Downgrades

WES has been the subject of a number of recent analyst reports. Stifel Nicolaus set a $43.00 price target on shares of Western Midstream Partners in a research report on Thursday, November 6th. Wall Street Zen lowered Western Midstream Partners from a “buy” rating to a “hold” rating in a research note on Saturday, December 27th. Wells Fargo & Company upped their price target on Western Midstream Partners from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 13th. Citigroup initiated coverage on shares of Western Midstream Partners in a report on Monday, October 20th. They issued a “neutral” rating and a $39.00 target price on the stock. Finally, Royal Bank Of Canada raised their target price on shares of Western Midstream Partners from $39.00 to $42.00 and gave the company a “sector perform” rating in a research note on Friday, November 28th. One investment 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 MarketBeat, the company has an average rating of “Hold” and an average target price of $41.50.

Western Midstream Partners Company Profile

Western Midstream Partners, LP (NYSE: WES) is a midstream energy infrastructure company that owns, operates and develops an integrated network of crude oil, natural gas and produced water gathering, processing, transportation and storage assets in the United States. The partnership’s primary offerings include pipeline transportation, fractionation services, natural gas liquids (NGL) logistics and produced water handling. Through its fee-based and commodity-based contracts, Western Midstream provides its customers with essential services that support efficient energy production and distribution.

The company’s asset portfolio spans key onshore basins, including the Delaware Basin in West Texas and southeastern New Mexico, the San Juan Basin in New Mexico and Colorado, and the Denver-Julesburg Basin in Colorado.