Penbrook Management LLC Has $475,000 Stock Holdings in Western Midstream Partners, LP (NYSE:WES)

Penbrook Management LLC increased its position in shares of Western Midstream Partners, LP (NYSE:WES) by 81.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,600 shares of the pipeline company’s stock after buying an additional 5,200 shares during the quarter. Penbrook Management LLC’s holdings in Western Midstream Partners were worth $475,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Samalin Investment Counsel LLC acquired a new position in Western Midstream Partners during the 4th quarter worth approximately $1,085,000. Caprock Group LLC raised its stake in Western Midstream Partners by 236.9% during the 4th quarter. Caprock Group LLC now owns 17,869 shares of the pipeline company’s stock worth $687,000 after buying an additional 12,565 shares during the period. Empowered Funds LLC acquired a new position in Western Midstream Partners during the 4th quarter worth approximately $53,000. Cetera Investment Advisers raised its stake in Western Midstream Partners by 68.4% during the 4th quarter. Cetera Investment Advisers now owns 48,800 shares of the pipeline company’s stock worth $1,875,000 after buying an additional 19,826 shares during the period. Finally, Pacer Advisors Inc. raised its stake in Western Midstream Partners by 27.2% during the 4th quarter. Pacer Advisors Inc. now owns 51,700 shares of the pipeline company’s stock worth $1,987,000 after buying an additional 11,062 shares during the period. 84.82% of the stock is owned by institutional investors and hedge funds.

Western Midstream Partners Stock Performance

Shares of WES opened at $38.40 on Thursday. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a 50 day moving average price of $38.31 and a two-hundred day moving average price of $39.36. The firm has a market capitalization of $14.64 billion, a P/E ratio of 9.80, a P/E/G ratio of 1.40 and a beta of 1.12. Western Midstream Partners, LP has a 52 week low of $33.60 and a 52 week high of $43.33.

Western Midstream Partners (NYSE:WES) last issued its quarterly earnings data on Wednesday, May 7th. The pipeline company reported $0.79 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.04). The company had revenue of $917.12 million for the quarter, compared to the consensus estimate of $926.55 million. Western Midstream Partners had a return on equity of 46.02% and a net margin of 42.99%. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.47 earnings per share. Equities analysts forecast that Western Midstream Partners, LP will post 4.02 earnings per share for the current fiscal year.

Western Midstream Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Friday, May 2nd were issued a dividend of $0.91 per share. This is a positive change from Western Midstream Partners’s previous quarterly dividend of $0.88. This represents a $3.64 dividend on an annualized basis and a yield of 9.48%. The ex-dividend date was Friday, May 2nd. Western Midstream Partners’s payout ratio is currently 108.66%.

Wall Street Analysts Forecast Growth

WES has been the topic of a number of research reports. Mizuho dropped their price target on Western Midstream Partners from $45.00 to $44.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 20th. Wall Street Zen raised Western Midstream Partners from a “hold” rating to a “buy” rating in a research note on Saturday, March 8th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Western Midstream Partners presently has an average rating of “Hold” and a consensus price target of $39.83.

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.