Fractal Investments LLC Grows Stake in Western Midstream Partners, LP (NYSE:WES)

Fractal Investments LLC increased its holdings in Western Midstream Partners, LP (NYSE:WES) by 0.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,467,506 shares of the pipeline company’s stock after buying an additional 1,800 shares during the period. Western Midstream Partners comprises approximately 8.6% of Fractal Investments LLC’s investment portfolio, making the stock its 5th biggest holding. Fractal Investments LLC’s holdings in Western Midstream Partners were worth $56,396,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of WES. Cedar Mountain Advisors LLC raised its stake in shares of Western Midstream Partners by 16.1% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 2,158 shares of the pipeline company’s stock worth $83,000 after acquiring an additional 299 shares in the last quarter. Bleakley Financial Group LLC lifted its holdings in shares of Western Midstream Partners by 5.8% during the 3rd quarter. Bleakley Financial Group LLC now owns 5,711 shares of the pipeline company’s stock valued at $218,000 after purchasing an additional 311 shares during the last quarter. Concurrent Investment Advisors LLC boosted its position in shares of Western Midstream Partners by 6.2% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 6,053 shares of the pipeline company’s stock worth $232,000 after purchasing an additional 352 shares in the last quarter. Truist Financial Corp grew its stake in Western Midstream Partners by 1.9% during the 2nd quarter. Truist Financial Corp now owns 22,508 shares of the pipeline company’s stock worth $894,000 after buying an additional 421 shares during the last quarter. Finally, Albert D Mason Inc. grew its stake in Western Midstream Partners by 1.0% during the 3rd quarter. Albert D Mason Inc. now owns 49,261 shares of the pipeline company’s stock worth $1,885,000 after buying an additional 501 shares during the last quarter. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Western Midstream Partners Trading Up 1.0 %

NYSE WES opened at $41.20 on Thursday. Western Midstream Partners, LP has a 1 year low of $27.84 and a 1 year high of $43.33. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market capitalization of $15.68 billion, a PE ratio of 10.51, a P/E/G ratio of 1.38 and a beta of 2.88. The company has a fifty day moving average of $40.15 and a 200 day moving average of $39.12.

Western Midstream Partners (NYSE:WES) last released its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.09). The company had revenue of $883.36 million for the quarter, compared to analysts’ expectations of $924.83 million. Western Midstream Partners had a net margin of 42.99% and a return on equity of 46.02%. The business’s quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.70 EPS. Research analysts forecast 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 will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be given a $0.875 dividend. The ex-dividend date is Monday, February 3rd. This represents a $3.50 annualized dividend and a yield of 8.50%. Western Midstream Partners’s dividend payout ratio is presently 89.29%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Morgan Stanley downgraded Western Midstream Partners from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $42.00 to $40.00 in a report on Friday, October 25th. Bank of America started coverage on shares of Western Midstream Partners in a research note on Thursday, October 17th. They issued an “underperform” rating and a $37.00 target price for the company. Royal Bank of Canada restated a “sector perform” rating and set a $41.00 price target on shares of Western Midstream Partners in a research note on Monday, December 9th. US Capital Advisors upgraded shares of Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Finally, UBS Group dropped their price objective 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. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Western Midstream Partners presently has a consensus rating of “Hold” and an average price target of $37.88.

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.