Iron Horse Wealth Management LLC Makes New Investment in Western Midstream Partners, LP $WES

Iron Horse Wealth Management LLC purchased a new position in shares of Western Midstream Partners, LP (NYSE:WES) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,495 shares of the pipeline company’s stock, valued at approximately $58,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WES. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Western Midstream Partners by 10.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 26,483 shares of the pipeline company’s stock valued at $1,085,000 after buying an additional 2,485 shares during the period. Catalyst Capital Advisors LLC lifted its holdings in shares of Western Midstream Partners by 30.6% in the 1st quarter. Catalyst Capital Advisors LLC now owns 461,365 shares of the pipeline company’s stock valued at $18,898,000 after buying an additional 108,021 shares during the period. CFM Wealth Partners LLC lifted its holdings in shares of Western Midstream Partners by 28.3% in the 1st quarter. CFM Wealth Partners LLC now owns 44,944 shares of the pipeline company’s stock valued at $1,841,000 after buying an additional 9,904 shares during the period. Bessemer Group Inc. acquired a new position in shares of Western Midstream Partners in the 1st quarter valued at about $41,000. Finally, Northern Trust Corp lifted its holdings in shares of Western Midstream Partners by 2,725.4% in the 1st quarter. Northern Trust Corp now owns 367,330 shares of the pipeline company’s stock valued at $15,046,000 after buying an additional 354,329 shares during the period. Institutional investors and hedge funds own 84.82% of the company’s stock.

Western Midstream Partners Stock Performance

NYSE WES opened at $38.59 on Friday. The stock has a market capitalization of $14.72 billion, a price-to-earnings ratio of 11.87 and a beta of 1.12. Western Midstream Partners, LP has a twelve month low of $33.60 and a twelve month high of $43.33. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 2.08. The stock has a 50-day moving average of $38.79 and a 200 day moving average of $38.67.

Western Midstream Partners (NYSE:WES) last posted its quarterly earnings data on Wednesday, August 6th. The pipeline company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.82 by $0.05. Western Midstream Partners had a return on equity of 37.70% and a net margin of 34.45%.The company had revenue of $942.32 million during the quarter, compared to analyst estimates of $954.17 million. During the same period in the previous year, the business earned $0.97 EPS. Western Midstream Partners’s quarterly revenue was up 4.1% on a year-over-year basis. Sell-side analysts anticipate that Western Midstream Partners, LP will post 4.02 EPS for the current fiscal year.

Western Midstream Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Friday, August 1st were paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 9.4%. The ex-dividend date was Friday, August 1st. Western Midstream Partners’s payout ratio is 112.00%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on WES shares. Royal Bank Of Canada boosted their price objective on Western Midstream Partners from $38.00 to $39.00 and gave the company a “sector perform” rating in a report on Tuesday, August 26th. Mizuho upped their price target on Western Midstream Partners from $44.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, August 29th. Finally, Morgan Stanley reduced their price target on Western Midstream Partners from $41.00 to $39.00 and set an “underweight” rating for the company in a report on Tuesday, August 26th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Western Midstream Partners has an average rating of “Reduce” and a consensus price target of $39.60.

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.