Tectonic Advisors LLC Raises Holdings in Western Midstream Partners, LP (NYSE:WES)

Tectonic Advisors LLC grew its position in Western Midstream Partners, LP (NYSE:WES) by 2.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 124,563 shares of the pipeline company’s stock after purchasing an additional 2,521 shares during the quarter. Tectonic Advisors LLC’s holdings in Western Midstream Partners were worth $3,645,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of WES. Fort Washington Investment Advisors Inc. OH lifted its holdings in shares of Western Midstream Partners by 103.0% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 30,165 shares of the pipeline company’s stock valued at $883,000 after purchasing an additional 15,309 shares during the last quarter. Pacer Advisors Inc. raised its position in Western Midstream Partners by 25.2% in the 4th quarter. Pacer Advisors Inc. now owns 33,560 shares of the pipeline company’s stock valued at $982,000 after purchasing an additional 6,760 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in Western Midstream Partners by 6.0% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 379,329 shares of the pipeline company’s stock valued at $11,099,000 after acquiring an additional 21,417 shares during the last quarter. Raymond James & Associates raised its stake in shares of Western Midstream Partners by 5.7% during the fourth quarter. Raymond James & Associates now owns 103,811 shares of the pipeline company’s stock worth $3,038,000 after purchasing an additional 5,596 shares during the last quarter. Finally, Fortitude Family Office LLC acquired a new position in Western Midstream Partners during the fourth quarter worth about $43,000. Institutional investors own 42.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on WES shares. Stifel Nicolaus increased their target price on shares of Western Midstream Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Citigroup lowered Western Midstream Partners from a “buy” rating to a “neutral” rating and increased their price target for the company from $30.00 to $34.00 in a research report on Thursday, February 29th. Raymond James restated a “market perform” rating on shares of Western Midstream Partners in a report on Tuesday, March 19th. Finally, Bank of America cut Western Midstream Partners from a “buy” rating to an “underperform” rating and lowered their price target for the company from $30.00 to $27.00 in a research report on Wednesday, December 13th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Western Midstream Partners currently has a consensus rating of “Hold” and an average price target of $30.75.

Western Midstream Partners Trading Up 0.7 %

Shares of Western Midstream Partners stock opened at $34.72 on Wednesday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 2.40. Western Midstream Partners, LP has a 12-month low of $24.89 and a 12-month high of $35.31. The company has a 50-day moving average of $31.35 and a two-hundred day moving average of $29.04. The stock has a market cap of $13.21 billion, a PE ratio of 13.35 and a beta of 2.83.

Western Midstream Partners (NYSE:WES) last issued its earnings results on Wednesday, February 21st. The pipeline company reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.04). The company had revenue of $858.21 million during the quarter, compared to analyst estimates of $850.23 million. Western Midstream Partners had a net margin of 32.72% and a return on equity of 33.58%. The business’s revenue was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.85 earnings per share. On average, research analysts anticipate that Western Midstream Partners, LP will post 3.44 EPS for the current fiscal year.

Western Midstream Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 13th. Stockholders of record on Thursday, February 1st were given a $0.575 dividend. The ex-dividend date was Wednesday, January 31st. This represents a $2.30 annualized dividend and a dividend yield of 6.62%. Western Midstream Partners’s dividend payout ratio is 88.46%.

Insider Buying and Selling

In other news, Director Kenneth F. Owen bought 7,000 shares of the stock in a transaction dated Monday, February 26th. The shares were acquired at an average price of $33.96 per share, with a total value of $237,720.00. Following the acquisition, the director now owns 32,730 shares in the company, valued at $1,111,510.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Kenneth F. Owen acquired 7,000 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was acquired at an average price of $33.96 per share, for a total transaction of $237,720.00. Following the transaction, the director now directly owns 32,730 shares in the company, valued at $1,111,510.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lisa A. Stewart bought 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was acquired at an average cost of $34.87 per share, with a total value of $87,175.00. Following the transaction, the director now owns 30,730 shares of the company’s stock, valued at approximately $1,071,555.10. The disclosure for this purchase can be found here. 0.04% of the stock is owned by company insiders.

Western Midstream Partners Company Profile

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.