Van ECK Associates Corp Sells 14,114 Shares of Western Midstream Partners, LP $WES

Van ECK Associates Corp decreased its holdings in shares of Western Midstream Partners, LP (NYSE:WES) by 18.3% during the second quarter, according to its most recent filing with the SEC. The firm owned 63,189 shares of the pipeline company’s stock after selling 14,114 shares during the period. Van ECK Associates Corp’s holdings in Western Midstream Partners were worth $2,765,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Northwestern Mutual Wealth Management Co. bought a new position in shares of Western Midstream Partners during the fourth quarter valued at approximately $27,000. Rothschild Investment LLC raised its stake in Western Midstream Partners by 76.2% in the fourth quarter. Rothschild Investment LLC now owns 793 shares of the pipeline company’s stock worth $31,000 after buying an additional 343 shares in the last quarter. Garton & Associates Financial Advisors LLC purchased a new stake in Western Midstream Partners during the fourth quarter worth $32,000. Glen Eagle Advisors LLC lifted its holdings in Western Midstream Partners by 843.0% during the fourth quarter. Glen Eagle Advisors LLC now owns 943 shares of the pipeline company’s stock worth $37,000 after buying an additional 843 shares during the period. Finally, International Assets Investment Management LLC bought a new stake in Western Midstream Partners during the 4th quarter valued at $40,000. Institutional investors own 84.82% of the company’s stock.

Western Midstream Partners Stock Performance

Shares of WES opened at $49.05 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 2.02. The firm has a market cap of $20.27 billion, a PE ratio of 15.42, a P/E/G ratio of 1.45 and a beta of 0.69. Western Midstream Partners, LP has a 12 month low of $36.90 and a 12 month high of $50.07. The stock has a fifty day moving average price of $46.81 and a 200-day moving average price of $44.08.

Western Midstream Partners (NYSE:WES) last announced its earnings results on Wednesday, August 5th. The pipeline company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.08. Western Midstream Partners had a return on equity of 33.13% and a net margin of 29.44%.The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the business earned $0.87 EPS. The firm’s revenue for the quarter was up 30.0% on a year-over-year basis. Equities research analysts predict that Western Midstream Partners, LP will post 3.64 earnings per share for the current fiscal year.

Western Midstream Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were paid a dividend of $0.93 per share. The ex-dividend date was Friday, July 31st. This represents a $3.72 dividend on an annualized basis and a dividend yield of 7.6%. Western Midstream Partners’s payout ratio is presently 116.98%.

Insider Activity

In related news, Director Frederick Forthuber acquired 5,140 shares of the business’s stock in a transaction dated Wednesday, August 12th. The shares were purchased at an average price of $48.62 per share, for a total transaction of $249,906.80. Following the completion of the acquisition, the director directly owned 5,140 shares in the company, valued at $249,906.80. The trade was a ? increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.04% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

WES has been the subject of several recent research reports. US Capital Advisors raised Western Midstream Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Friday, May 29th. Stifel Nicolaus set a $46.00 target price on Western Midstream Partners and gave the company a “buy” rating in a research note on Thursday, May 7th. Wall Street Zen downgraded shares of Western Midstream Partners from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Morgan Stanley increased their price target on shares of Western Midstream Partners from $51.00 to $55.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 18th. Finally, Citigroup raised their price target on shares of Western Midstream Partners from $42.00 to $45.00 and gave the company a “neutral” rating in a report on Tuesday, August 11th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, Western Midstream Partners presently has a consensus rating of “Moderate Buy” and an average price target of $48.12.

Western Midstream Partners 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.