Exchange Traded Concepts LLC Sells 6,241 Shares of Western Midstream Partners, LP $WES

Exchange Traded Concepts LLC lessened its holdings in Western Midstream Partners, LP (NYSE:WES) by 2.9% during the 2nd quarter, HoldingsChannel reports. The firm owned 207,330 shares of the pipeline company’s stock after selling 6,241 shares during the period. Exchange Traded Concepts LLC’s holdings in Western Midstream Partners were worth $8,024,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of WES. State of Wyoming increased its position in Western Midstream Partners by 40.6% in the fourth quarter. State of Wyoming now owns 3,323 shares of the pipeline company’s stock worth $128,000 after purchasing an additional 960 shares during the last quarter. Novem Group bought a new stake in Western Midstream Partners in the fourth quarter worth $695,000. Wealth Enhancement Advisory Services LLC increased its position in Western Midstream Partners by 29.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 42,294 shares of the pipeline company’s stock worth $1,625,000 after purchasing an additional 9,506 shares during the last quarter. Penbrook Management LLC increased its position in Western Midstream Partners by 81.3% in the first quarter. Penbrook Management LLC now owns 11,600 shares of the pipeline company’s stock worth $475,000 after purchasing an additional 5,200 shares during the last quarter. Finally, Princeton Global Asset Management LLC increased its position in Western Midstream Partners by 133.3% in the first quarter. Princeton Global Asset Management LLC now owns 700 shares of the pipeline company’s stock worth $29,000 after purchasing an additional 400 shares during the last quarter. Institutional investors own 84.82% of the company’s stock.

Analyst Ratings Changes

WES has been the subject of several recent analyst reports. Morgan Stanley dropped 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. Royal Bank Of Canada lifted their price objective on shares of 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, Mizuho lifted their price objective on shares of Western Midstream Partners from $44.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, August 29th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $39.60.

Western Midstream Partners Stock Up 0.5%

Shares of WES opened at $38.52 on Friday. The firm has a market capitalization of $14.69 billion, a P/E ratio of 11.85 and a beta of 1.17. 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 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 2.08. The firm has a fifty day moving average price of $39.06 and a 200-day moving average price of $38.77.

Western Midstream Partners (NYSE:WES) last released its quarterly earnings data on Wednesday, August 6th. The pipeline company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $942.32 million during the quarter, compared to analyst estimates of $954.17 million. During the same period in the prior year, the firm earned $0.97 earnings per share. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. Equities research analysts expect that Western Midstream Partners, LP will post 4.02 earnings per share for the current year.

Western Midstream Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Friday, August 1st were paid a $0.91 dividend. The ex-dividend date of this dividend was Friday, August 1st. This represents a $3.64 dividend on an annualized basis and a yield of 9.4%. Western Midstream Partners’s dividend payout ratio is 112.00%.

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.