Linscomb & Williams Inc. boosted its holdings in Western Midstream Partners LP (NYSE:WES) by 174.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,534 shares of the pipeline company’s stock after buying an additional 17,512 shares during the period. Linscomb & Williams Inc.’s holdings in Western Midstream Partners were worth $863,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in the stock. Alps Advisors Inc. grew its stake in Western Midstream Partners by 91.6% in the 1st quarter. Alps Advisors Inc. now owns 19,070,424 shares of the pipeline company’s stock valued at $598,048,000 after buying an additional 9,115,972 shares in the last quarter. Kayne Anderson Capital Advisors LP grew its stake in Western Midstream Partners by 30.2% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 11,240,049 shares of the pipeline company’s stock valued at $352,474,000 after buying an additional 2,610,367 shares in the last quarter. Chickasaw Capital Management LLC grew its stake in Western Midstream Partners by 236.4% in the 1st quarter. Chickasaw Capital Management LLC now owns 9,307,744 shares of the pipeline company’s stock valued at $291,891,000 after buying an additional 6,540,816 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Western Midstream Partners by 84.4% in the 1st quarter. JPMorgan Chase & Co. now owns 6,598,326 shares of the pipeline company’s stock valued at $206,923,000 after buying an additional 3,020,395 shares in the last quarter. Finally, Eagle Global Advisors LLC grew its stake in Western Midstream Partners by 100.3% in the 1st quarter. Eagle Global Advisors LLC now owns 1,868,452 shares of the pipeline company’s stock valued at $58,595,000 after buying an additional 935,451 shares in the last quarter. Institutional investors and hedge funds own 44.88% of the company’s stock.
A number of research firms recently weighed in on WES. Barclays began coverage on shares of Western Midstream Partners in a research note on Friday, March 22nd. They issued an “equal weight” rating and a $34.00 price objective for the company. ValuEngine lowered shares of Western Midstream Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, April 30th. Mitsubishi UFJ Financial Group reduced their price target on shares of Western Midstream Partners from $55.00 to $42.00 and set an “overweight” rating for the company in a research report on Monday, April 15th. Citigroup restated a “buy” rating and set a $35.00 price target on shares of Western Midstream Partners in a research report on Tuesday, April 9th. Finally, M Partners boosted their price target on shares of Western Midstream Partners from $42.00 to $55.00 and gave the company a “neutral” rating in a research report on Friday, February 15th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $46.10.
WES opened at $30.15 on Friday. The firm has a market cap of $13.66 billion, a PE ratio of 12.01, a PEG ratio of 2.29 and a beta of 1.53. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 1.45. Western Midstream Partners LP has a one year low of $25.89 and a one year high of $38.62.
Western Midstream Partners (NYSE:WES) last released its quarterly earnings results on Tuesday, April 30th. The pipeline company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.17). The firm had revenue of $671.88 million for the quarter, compared to analysts’ expectations of $622.45 million. Western Midstream Partners had a net margin of 16.47% and a return on equity of 11.61%. The firm’s revenue for the quarter was up 34.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.46 earnings per share. Sell-side analysts forecast that Western Midstream Partners LP will post 2.25 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, May 14th. Stockholders of record on Wednesday, May 1st were given a dividend of $0.61 per share. The ex-dividend date was Tuesday, April 30th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 8.09%. Western Midstream Partners’s dividend payout ratio (DPR) is currently 97.21%.
About Western Midstream Partners
Western Midstream Partners, LP, together with its subsidiaries, engages in 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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