7,700 Shares in Western Midstream Partners, LP (NYSE:WES) Bought by Westover Capital Advisors LLC

Westover Capital Advisors LLC acquired a new stake in shares of Western Midstream Partners, LP (NYSE:WES) in the second quarter, HoldingsChannel reports. The institutional investor acquired 7,700 shares of the pipeline company’s stock, valued at approximately $306,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principal Securities Inc. purchased a new stake in shares of Western Midstream Partners in the fourth quarter worth $141,000. Jump Financial LLC purchased a new position in Western Midstream Partners during the fourth quarter valued at $483,000. Wells Fargo & Company MN increased its holdings in Western Midstream Partners by 7.6% in the 4th quarter. Wells Fargo & Company MN now owns 1,260,436 shares of the pipeline company’s stock valued at $36,880,000 after acquiring an additional 89,444 shares during the last quarter. Allianz Asset Management GmbH lifted its stake in Western Midstream Partners by 28.6% in the 4th quarter. Allianz Asset Management GmbH now owns 708,256 shares of the pipeline company’s stock worth $20,724,000 after purchasing an additional 157,700 shares in the last quarter. Finally, Peapack Gladstone Financial Corp bought a new position in shares of Western Midstream Partners during the 4th quarter valued at about $248,000. 42.94% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WES has been the topic of several research reports. Royal Bank of Canada lifted their target price on Western Midstream Partners from $36.00 to $38.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 27th. Stifel Nicolaus upped their price objective on Western Midstream Partners from $39.00 to $40.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Wells Fargo & Company raised their target price on shares of Western Midstream Partners from $34.00 to $35.00 and gave the company an “equal weight” rating in a report on Tuesday, May 21st. Finally, StockNews.com raised shares of Western Midstream Partners from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $34.29.

Insiders Place Their Bets

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the completion of the sale, the insider now directly owns 165,681,578 shares of the company’s stock, valued at approximately $5,923,116,413.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.04% of the stock is owned by insiders.

Western Midstream Partners Stock Performance

NYSE WES opened at $39.57 on Friday. The business’s 50 day moving average price is $39.37 and its 200-day moving average price is $37.45. Western Midstream Partners, LP has a fifty-two week low of $25.71 and a fifty-two week high of $42.80. The company has a market cap of $15.06 billion, a P/E ratio of 11.15, a P/E/G ratio of 0.73 and a beta of 2.87. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.68 and a current ratio of 1.68.

Western Midstream Partners (NYSE:WES) last posted its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.09. The business had revenue of $905.63 million for the quarter, compared to analysts’ expectations of $904.94 million. Western Midstream Partners had a net margin of 44.01% and a return on equity of 47.19%. The business’s revenue was up 22.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.64 earnings per share. Sell-side analysts predict that Western Midstream Partners, LP will post 4.16 earnings per share for the current year.

Western Midstream Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 1st were given a $0.875 dividend. This represents a $3.50 dividend on an annualized basis and a yield of 8.85%. The ex-dividend date was Thursday, August 1st. Western Midstream Partners’s dividend payout ratio (DPR) is currently 98.59%.

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.