Pekin Hardy Strauss Inc. Has $2.57 Million Stock Position in Western Midstream Partners, LP $WES

Pekin Hardy Strauss Inc. lessened its stake in shares of Western Midstream Partners, LP (NYSE:WES) by 5.5% during the second quarter, Holdings Channel.com reports. The firm owned 66,400 shares of the pipeline company’s stock after selling 3,900 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Western Midstream Partners were worth $2,570,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in WES. Alps Advisors Inc. boosted its holdings in Western Midstream Partners by 7.6% in the first quarter. Alps Advisors Inc. now owns 33,824,487 shares of the pipeline company’s stock worth $1,385,451,000 after acquiring an additional 2,400,891 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Western Midstream Partners by 7.1% in the 1st quarter. Invesco Ltd. now owns 24,417,770 shares of the pipeline company’s stock worth $1,000,152,000 after purchasing an additional 1,608,609 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Western Midstream Partners by 1.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,658,988 shares of the pipeline company’s stock valued at $354,672,000 after purchasing an additional 149,833 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Western Midstream Partners by 2.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,428,847 shares of the pipeline company’s stock valued at $304,286,000 after purchasing an additional 155,661 shares during the period. Finally, Chickasaw Capital Management LLC increased its stake in Western Midstream Partners by 1.1% during the 2nd quarter. Chickasaw Capital Management LLC now owns 6,794,472 shares of the pipeline company’s stock valued at $262,946,000 after purchasing an additional 72,459 shares in the last quarter. 84.82% of the stock is owned by institutional investors and hedge funds.

Western Midstream Partners Price Performance

Western Midstream Partners stock opened at $38.49 on Friday. Western Midstream Partners, LP has a 52 week low of $33.60 and a 52 week high of $43.33. The company’s 50 day moving average price is $38.38 and its two-hundred day moving average price is $38.56. The stock has a market cap of $14.68 billion, a P/E ratio of 11.84 and a beta of 1.14. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 2.08.

Western Midstream Partners (NYSE:WES) last issued its quarterly earnings results on Tuesday, November 4th. The pipeline company reported $0.87 EPS for the quarter, meeting analysts’ consensus estimates of $0.87. The company had revenue of $952.48 million during the quarter, compared to the consensus estimate of $965.55 million. Western Midstream Partners had a return on equity of 37.70% and a net margin of 34.45%.Western Midstream Partners’s revenue was up 7.8% on a year-over-year basis. During the same period last year, the business posted $0.74 earnings per share. On average, equities analysts predict that Western Midstream Partners, LP will post 4.02 earnings per share for the current year.

Western Midstream Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 9.5%. The ex-dividend date of this dividend is Friday, October 31st. Western Midstream Partners’s payout ratio is 107.69%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on WES. Royal Bank Of Canada lifted their price objective on shares of Western Midstream Partners from $38.00 to $39.00 and gave the company a “sector perform” rating in a report on Tuesday, August 26th. Morgan Stanley cut their price target on Western Midstream Partners from $41.00 to $39.00 and set an “underweight” rating for the company in a research note on Tuesday, August 26th. Mizuho boosted their price objective on Western Midstream Partners from $44.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, August 29th. Citigroup started coverage on Western Midstream Partners in a report on Monday, October 20th. They issued a “neutral” rating and a $39.00 target price on the stock. Finally, Stifel Nicolaus set a $43.00 target price on Western Midstream Partners in a research report on Thursday. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $40.50.

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.