Lido Advisors LLC bought a new position in Western Midstream Partners, LP (NYSE:WES – Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 15,887 shares of the pipeline company’s stock, valued at approximately $654,000.
Other large investors also recently made changes to their positions in the company. Morgan Stanley boosted its holdings in Western Midstream Partners by 98.1% during the fourth quarter. Morgan Stanley now owns 5,446,475 shares of the pipeline company’s stock worth $215,136,000 after purchasing an additional 2,696,439 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Western Midstream Partners by 106.9% in the 4th quarter. JPMorgan Chase & Co. now owns 3,005,252 shares of the pipeline company’s stock worth $118,707,000 after buying an additional 1,552,401 shares during the last quarter. Tortoise Capital Advisors L.L.C. grew its holdings in shares of Western Midstream Partners by 15.8% in the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 8,539,175 shares of the pipeline company’s stock valued at $337,297,000 after acquiring an additional 1,163,991 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Western Midstream Partners by 10.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 9,562,213 shares of the pipeline company’s stock valued at $377,707,000 after acquiring an additional 936,376 shares during the last quarter. Finally, ING Groep NV purchased a new stake in shares of Western Midstream Partners during the fourth quarter valued at approximately $28,268,000. 84.82% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on the company. Stifel Nicolaus set a $46.00 price objective on Western Midstream Partners and gave the stock a “buy” rating in a research report on Thursday, May 7th. Wells Fargo & Company lifted their price objective on shares of Western Midstream Partners from $41.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 13th. US Capital Advisors upgraded shares of Western Midstream Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, May 29th. Royal Bank Of Canada reissued a “sector perform” rating on shares of Western Midstream Partners in a research report on Tuesday, July 21st. Finally, Wall Street Zen upgraded shares of Western Midstream Partners from a “hold” rating to a “buy” rating in a research note on Sunday, July 12th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $46.25.
Western Midstream Partners Stock Down 0.1%
Shares of NYSE WES opened at $47.03 on Thursday. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a market capitalization of $18.52 billion, a PE ratio of 15.37, a P/E/G ratio of 1.96 and a beta of 0.68. Western Midstream Partners, LP has a one year low of $36.90 and a one year high of $48.63. The business’s fifty day moving average price is $44.69 and its 200-day moving average price is $42.85.
Western Midstream Partners (NYSE:WES – Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The pipeline company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.11. Western Midstream Partners had a return on equity of 33.89% and a net margin of 29.98%.The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the firm posted $0.79 EPS. The firm’s revenue for the quarter was up 22.5% on a year-over-year basis. On average, equities research analysts anticipate that Western Midstream Partners, LP will post 3.49 EPS for the current year.
Western Midstream Partners Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be paid a $0.93 dividend. The ex-dividend date is Friday, July 31st. This represents a $3.72 annualized dividend and a dividend yield of 7.9%. Western Midstream Partners’s dividend payout ratio (DPR) is presently 121.57%.
About Western Midstream Partners
Western Midstream Partners, LP (NYSE: WES) is a midstream energy infrastructure company that owns, operates and develops an integrated network of crude oil, natural gas and produced water gathering, processing, transportation and storage assets in the United States. The partnership’s primary offerings include pipeline transportation, fractionation services, natural gas liquids (NGL) logistics and produced water handling. Through its fee-based and commodity-based contracts, Western Midstream provides its customers with essential services that support efficient energy production and distribution.
The company’s asset portfolio spans key onshore basins, including the Delaware Basin in West Texas and southeastern New Mexico, the San Juan Basin in New Mexico and Colorado, and the Denver-Julesburg Basin in Colorado.
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