Western Midstream Partners, LP $WES Stock Holdings Raised by First Trust Advisors LP

First Trust Advisors LP grew its stake in Western Midstream Partners, LP (NYSE:WES) by 39.0% during the first quarter, HoldingsChannel.com reports. The firm owned 902,585 shares of the pipeline company’s stock after purchasing an additional 253,474 shares during the period. First Trust Advisors LP’s holdings in Western Midstream Partners were worth $37,159,000 as of its most recent SEC filing.

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

Western Midstream Partners Stock Down 1.6%

Shares of Western Midstream Partners stock opened at $46.69 on Tuesday. The stock has a market capitalization of $18.39 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 1.97 and a beta of 0.68. Western Midstream Partners, LP has a twelve month low of $36.90 and a twelve month high of $48.63. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.34. The business’s 50 day simple moving average is $44.66 and its 200-day simple moving average is $42.75.

Western Midstream Partners (NYSE:WES) last released its quarterly earnings data on Wednesday, May 6th. The pipeline company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.11. The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.01 billion. Western Midstream Partners had a return on equity of 33.89% and a net margin of 29.98%.The business’s revenue for the quarter was up 22.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.79 EPS. Equities research analysts forecast that Western Midstream Partners, LP will post 3.49 earnings per share for the current year.

Western Midstream Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be issued a dividend of $0.93 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a $3.72 annualized dividend and a dividend yield of 8.0%. Western Midstream Partners’s payout ratio is 121.57%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on WES. UBS Group upped their price target on Western Midstream Partners from $45.00 to $48.00 and gave the company a “neutral” rating in a research report on Friday, July 10th. Stifel Nicolaus set a $46.00 target price on shares of Western Midstream Partners and gave the company a “buy” rating in a research note on Thursday, May 7th. Wells Fargo & Company increased their target price on shares of Western Midstream Partners from $41.00 to $43.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 13th. Citigroup raised their price target on shares of Western Midstream Partners from $39.00 to $42.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 12th. Finally, Mizuho lifted their price target on shares of Western Midstream Partners from $48.00 to $51.00 and gave the company an “outperform” rating in a report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $46.25.

Western Midstream Partners Company 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.