Wilmington Savings Fund Society FSB Buys Shares of 4,343 Western Midstream Partners, LP (NYSE:WES)

Wilmington Savings Fund Society FSB purchased a new position in Western Midstream Partners, LP (NYSE:WES) in the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 4,343 shares of the pipeline company’s stock, valued at approximately $166,000.

A number of other hedge funds have also recently made changes to their positions in WES. Virtu Financial LLC purchased a new position in Western Midstream Partners in the third quarter valued at about $409,000. M&T Bank Corp bought a new stake in shares of Western Midstream Partners in the 3rd quarter valued at about $765,000. Duff & Phelps Investment Management Co. grew its position in shares of Western Midstream Partners by 6,986.8% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 708,683 shares of the pipeline company’s stock worth $27,114,000 after buying an additional 698,683 shares during the last quarter. Kovitz Investment Group Partners LLC bought a new position in shares of Western Midstream Partners during the 3rd quarter worth approximately $2,654,000. Finally, Stifel Financial Corp raised its stake in shares of Western Midstream Partners by 42.1% during the 3rd quarter. Stifel Financial Corp now owns 108,367 shares of the pipeline company’s stock worth $4,146,000 after acquiring an additional 32,119 shares in the last quarter. 84.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on WES shares. Royal Bank of Canada restated a “sector perform” rating and issued a $41.00 target price on shares of Western Midstream Partners in a research note on Monday, December 9th. UBS Group lowered their price objective on Western Midstream Partners from $40.00 to $37.00 and set a “neutral” rating for the company in a research report on Friday, November 15th. Morgan Stanley lowered Western Midstream Partners from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $42.00 to $40.00 in a research report on Friday, October 25th. US Capital Advisors upgraded Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Finally, StockNews.com lowered Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 28th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $37.88.

Western Midstream Partners Stock Down 2.5 %

Shares of WES stock opened at $38.24 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. Western Midstream Partners, LP has a fifty-two week low of $27.44 and a fifty-two week high of $42.80. The firm has a market capitalization of $14.55 billion, a PE ratio of 9.76, a P/E/G ratio of 1.08 and a beta of 2.90. The stock’s 50-day simple moving average is $38.54 and its 200-day simple moving average is $38.95.

Western Midstream Partners (NYSE:WES) last posted its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.09). Western Midstream Partners had a return on equity of 46.02% and a net margin of 42.99%. The business had revenue of $883.36 million for the quarter, compared to analysts’ expectations of $924.83 million. The business’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.70 earnings per share. Equities analysts expect that Western Midstream Partners, LP will post 4.03 earnings per share for the current year.

Western Midstream Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were given a dividend of $0.875 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.50 dividend on an annualized basis and a yield of 9.15%. Western Midstream Partners’s dividend payout ratio is presently 89.29%.

Western Midstream Partners Company Profile

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.