PFG Investments LLC Trims Stake in Western Midstream Partners, LP $WES

PFG Investments LLC reduced its position in shares of Western Midstream Partners, LP (NYSE:WES) by 37.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 26,957 shares of the pipeline company’s stock after selling 15,898 shares during the quarter. PFG Investments LLC’s holdings in Western Midstream Partners were worth $1,065,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of WES. Eagle Bay Advisors LLC purchased a new position in Western Midstream Partners during the 4th quarter worth $27,000. Global Wealth Strategies & Associates purchased a new position in Western Midstream Partners during the 4th quarter worth $35,000. Jones Financial Companies Lllp increased its holdings in Western Midstream Partners by 86.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 908 shares of the pipeline company’s stock worth $36,000 after purchasing an additional 420 shares during the period. Fulcrum Asset Management LLP purchased a new position in Western Midstream Partners during the 3rd quarter worth $41,000. Finally, Mather Group LLC. purchased a new position in Western Midstream Partners during the 3rd quarter worth $49,000. 84.82% of the stock is currently owned by hedge funds and other institutional investors.

Western Midstream Partners Trading Down 0.8%

Shares of NYSE:WES opened at $40.51 on Friday. Western Midstream Partners, LP has a 12-month low of $35.25 and a 12-month high of $44.74. The business’s fifty day simple moving average is $41.52 and its 200-day simple moving average is $40.13. The company has a market capitalization of $15.95 billion, a PE ratio of 13.50 and a beta of 0.73. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.97.

Western Midstream Partners (NYSE:WES) last announced its quarterly earnings results on Wednesday, February 18th. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.44). The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Western Midstream Partners had a net margin of 30.52% and a return on equity of 33.14%. The company’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.85 earnings per share. As a group, equities research analysts predict that Western Midstream Partners, LP will post 4.02 earnings per share for the current fiscal year.

Western Midstream Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 2nd were given a $0.91 dividend. The ex-dividend date of this dividend was Monday, February 2nd. This represents a $3.64 dividend on an annualized basis and a dividend yield of 9.0%. Western Midstream Partners’s dividend payout ratio (DPR) is presently 121.33%.

Analyst Upgrades and Downgrades

Several research firms have commented on WES. Wall Street Zen downgraded Western Midstream Partners from a “buy” rating to a “hold” rating in a report on Saturday, December 27th. Stifel Nicolaus reduced their price objective on Western Midstream Partners from $43.00 to $42.00 and set a “hold” rating on the stock in a report on Friday, February 20th. JPMorgan Chase & Co. cut their price target on Western Midstream Partners from $44.00 to $43.00 and set a “neutral” rating on the stock in a report on Thursday, March 12th. Finally, Wells Fargo & Company lifted their price target on Western Midstream Partners from $39.00 to $41.00 and gave the company an “equal weight” rating in a report on Friday, March 13th. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Western Midstream Partners presently has a consensus rating of “Hold” and a consensus price target of $41.71.

Insiders Place Their Bets

In other Western Midstream Partners news, Director Robert G. Phillips acquired 1,250 shares of the stock in a transaction dated Wednesday, March 11th. The stock was purchased at an average price of $40.19 per share, with a total value of $50,237.50. Following the transaction, the director directly owned 5,296 shares of the company’s stock, valued at $212,846.24. This trade represents a 30.89% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Christopher B. Dial sold 5,879 shares of the firm’s stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $42.35, for a total value of $248,975.65. Following the completion of the sale, the senior vice president directly owned 185,011 shares of the company’s stock, valued at $7,835,215.85. The trade was a 3.08% decrease in their position. The SEC filing for this sale provides additional information. 0.04% of the stock is owned by company insiders.

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.