Miller Howard Investments Inc. NY lifted its holdings in shares of Western Midstream Partners, LP (NYSE:WES – Free Report) by 3.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 1,710,098 shares of the pipeline company’s stock after buying an additional 61,156 shares during the period. Western Midstream Partners makes up about 2.0% of Miller Howard Investments Inc. NY’s holdings, making the stock its 7th largest holding. Miller Howard Investments Inc. NY’s holdings in Western Midstream Partners were worth $75,877,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of WES. Pension & Wealth Management Advisors Inc. bought a new position in Western Midstream Partners in the third quarter valued at approximately $25,000. Farther Finance Advisors LLC raised its stake in shares of Western Midstream Partners by 37.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 924 shares of the pipeline company’s stock worth $41,000 after purchasing an additional 254 shares in the last quarter. Continuum Advisory LLC bought a new stake in shares of Western Midstream Partners during the 2nd quarter worth approximately $41,000. Toth Financial Advisory Corp raised its stake in shares of Western Midstream Partners by 209.4% during the 2nd quarter. Toth Financial Advisory Corp now owns 1,835 shares of the pipeline company’s stock worth $80,000 after purchasing an additional 1,242 shares in the last quarter. Finally, Compass Financial Management LLC bought a new stake in shares of Western Midstream Partners during the 2nd quarter worth approximately $132,000. 84.82% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on WES shares. Stifel Nicolaus assumed coverage on Western Midstream Partners in a report on Thursday, September 10th. They issued a “buy” rating and a $55.00 price objective for the company. Citigroup boosted their target price on shares of Western Midstream Partners from $42.00 to $45.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. UBS Group boosted their target price on shares of Western Midstream Partners from $45.00 to $48.00 and gave the stock a “neutral” rating in a report on Friday, July 10th. Wall Street Zen lowered shares of Western Midstream Partners from a “buy” rating to a “hold” rating in a research report on Saturday, October 17th. Finally, Wells Fargo & Company upped their price target on shares of Western Midstream Partners from $43.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Monday, August 10th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Western Midstream Partners currently has an average rating of “Moderate Buy” and an average price target of $49.89.
Get Our Latest Stock Report on WES
Western Midstream Partners Stock Up 0.0%
WES stock opened at $45.14 on Tuesday. Western Midstream Partners, LP has a 1-year low of $36.90 and a 1-year high of $50.07. The business’s 50 day simple moving average is $46.75 and its 200 day simple moving average is $44.06. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 2.02. The firm has a market capitalization of $18.65 billion, a PE ratio of 14.19, a PEG ratio of 1.22 and a beta of 0.74.
Western Midstream Partners (NYSE:WES – Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The pipeline company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.08. Western Midstream Partners had a return on equity of 33.13% and a net margin of 29.44%. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter last year, the firm posted $0.87 EPS. The company’s quarterly revenue was up 30.0% on a year-over-year basis. As a group, research analysts anticipate that Western Midstream Partners, LP will post 3.66 EPS for the current year.
Western Midstream Partners Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Monday, November 2nd will be issued a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 8.2%. The ex-dividend date is Monday, November 2nd. Western Midstream Partners’s payout ratio is currently 116.98%.
Insider Activity at Western Midstream Partners
In related news, Director Frederick Forthuber acquired 5,140 shares of the company’s stock in a transaction dated Wednesday, August 12th. The shares were bought at an average cost of $48.62 per share, with a total value of $249,906.80. Following the completion of the transaction, the director directly owned 5,140 shares of the company’s stock, valued at $249,906.80. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.04% of the stock is currently owned by corporate insiders.
Western Midstream Partners Company Profile
Western Midstream Partners, L.P. (NYSE:WES) is a master limited partnership that owns and operates midstream energy infrastructure in the United States. The company provides gathering, processing, transportation, storage and treating services for natural gas, crude oil, natural gas liquids and produced water.
Western Midstream’s assets include gathering systems, processing plants, pipelines, storage facilities and water-handling infrastructure. These facilities connect oil and gas producers with downstream markets and are generally supported by long-term commercial arrangements.
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Want to see what other hedge funds are holding WES? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Western Midstream Partners, LP (NYSE:WES – Free Report).
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