Maryland State Retirement & Pension System Buys 10,664 Shares of Western Midstream Partners, LP $WES

Maryland State Retirement & Pension System increased its stake in Western Midstream Partners, LP (NYSE:WES) by 6.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 175,260 shares of the pipeline company’s stock after purchasing an additional 10,664 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Western Midstream Partners were worth $6,783,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of WES. Kingstone Capital Partners Texas LLC bought a new stake in shares of Western Midstream Partners in the 2nd quarter worth approximately $156,967,000. Alps Advisors Inc. grew its stake in Western Midstream Partners by 7.6% in the 1st quarter. Alps Advisors Inc. now owns 33,824,487 shares of the pipeline company’s stock valued at $1,385,451,000 after buying an additional 2,400,891 shares in the last quarter. Invesco Ltd. grew its stake in Western Midstream Partners by 7.1% in the 1st quarter. Invesco Ltd. now owns 24,417,770 shares of the pipeline company’s stock valued at $1,000,152,000 after buying an additional 1,608,609 shares in the last quarter. Longfellow Investment Management Co. LLC grew its stake in Western Midstream Partners by 90.5% in the 1st quarter. Longfellow Investment Management Co. LLC now owns 985,718 shares of the pipeline company’s stock valued at $40,375,000 after buying an additional 468,303 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Western Midstream Partners by 2,725.4% in the 1st quarter. Northern Trust Corp now owns 367,330 shares of the pipeline company’s stock valued at $15,046,000 after buying an additional 354,329 shares in the last quarter. Institutional investors own 84.82% of the company’s stock.

Western Midstream Partners Stock Down 2.1%

Shares of NYSE:WES opened at $38.38 on Friday. The firm has a fifty day moving average price of $38.61 and a two-hundred day moving average price of $38.60. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.30 and a quick ratio of 1.30. Western Midstream Partners, LP has a one year low of $33.60 and a one year high of $43.33. The company has a market cap of $14.64 billion, a price-to-earnings ratio of 11.81 and a beta of 1.12.

Western Midstream Partners (NYSE:WES) last announced its quarterly earnings results on Wednesday, August 6th. The pipeline company reported $0.87 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 the consensus estimate of $954.17 million. During the same period last year, the firm earned $0.97 EPS. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. Analysts anticipate that Western Midstream Partners, LP will post 4.02 EPS for the current fiscal year.

Western Midstream Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Friday, August 1st were issued a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 9.5%. The ex-dividend date of this dividend was Friday, August 1st. Western Midstream Partners’s dividend payout ratio (DPR) is presently 112.00%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on WES shares. Royal Bank Of Canada lifted their price objective on shares of Western Midstream Partners from $38.00 to $39.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 26th. Morgan Stanley reduced 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. Finally, 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. One 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’s stock. According to MarketBeat.com, the company has an average rating of “Reduce” and an average target price 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.