Spirit of America Management Corp NY boosted its stake in shares of Western Midstream Partners LP (NYSE:WES) by 87.2% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 684,052 shares of the pipeline company’s stock after acquiring an additional 318,583 shares during the period. Western Midstream Partners accounts for 3.1% of Spirit of America Management Corp NY’s portfolio, making the stock its 3rd largest holding. Spirit of America Management Corp NY owned approximately 0.31% of Western Midstream Partners worth $21,451,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Executive Wealth Management LLC purchased a new position in shares of Western Midstream Partners in the 4th quarter worth $25,000. Ffcm LLC grew its stake in shares of Western Midstream Partners by 50.0% in the 4th quarter. Ffcm LLC now owns 717 shares of the pipeline company’s stock worth $30,000 after buying an additional 239 shares in the last quarter. Berman Capital Advisors LLC purchased a new position in shares of Western Midstream Partners in the 4th quarter worth $33,000. Bessemer Group Inc. grew its stake in shares of Western Midstream Partners by 61.0% in the 4th quarter. Bessemer Group Inc. now owns 800 shares of the pipeline company’s stock worth $34,000 after buying an additional 303 shares in the last quarter. Finally, Advisor Group Inc. grew its stake in shares of Western Midstream Partners by 25.4% in the 4th quarter. Advisor Group Inc. now owns 1,234 shares of the pipeline company’s stock worth $52,000 after buying an additional 250 shares in the last quarter. 42.58% of the stock is owned by institutional investors.
WES has been the subject of a number of recent research reports. Zacks Investment Research cut shares of Western Midstream Partners from a “buy” rating to a “hold” rating in a research note on Friday, February 22nd. ValuEngine raised shares of Western Midstream Partners from a “hold” rating to a “buy” rating in a research note on Tuesday, February 19th. Wells Fargo & Co reissued a “hold” rating on shares of Western Midstream Partners in a research note on Tuesday, February 19th. Mitsubishi UFJ Financial Group dropped their price objective on shares of Western Midstream Partners from $55.00 to $42.00 and set an “overweight” rating for the company in a research note on Monday. Finally, Citigroup reissued a “buy” rating and issued a $35.00 price objective on shares of Western Midstream Partners in a research note on Tuesday, April 9th. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $46.73.
Shares of Western Midstream Partners stock traded down $0.53 during trading on Wednesday, hitting $33.63. The stock had a trading volume of 212,914 shares, compared to its average volume of 1,081,593. The firm has a market capitalization of $7.62 billion, a PE ratio of 13.40 and a beta of 1.54. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 1.37. Western Midstream Partners LP has a 12 month low of $25.89 and a 12 month high of $38.62.
Western Midstream Partners (NYSE:WES) last released its earnings results on Thursday, February 14th. The pipeline company reported $0.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.65). The firm had revenue of $557.79 million during the quarter, compared to the consensus estimate of $521.78 million. Western Midstream Partners had a return on equity of 11.72% and a net margin of 19.06%. Western Midstream Partners’s revenue was down 11.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.39 EPS. As a group, sell-side analysts predict that Western Midstream Partners LP will post 2.27 earnings per share for the current fiscal year.
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About Western Midstream Partners
Western Gas Equity Partners, LP, together with its subsidiaries, engages in the gathering, processing, compressing, treating, stabilizing, and transporting natural gas, condensate, natural gas liquids, and crude oil primarily in the United States. It is also involved in the gathering and disposing of produced water; and buying and selling of natural gas.
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