BBR Partners LLC Acquires Shares of 15,000 Western Midstream Partners, LP (NYSE:WES)

BBR Partners LLC acquired a new stake in Western Midstream Partners, LP (NYSE:WES) during the third quarter, HoldingsChannel reports. The fund acquired 15,000 shares of the pipeline company’s stock, valued at approximately $574,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in WES. MAI Capital Management lifted its position in shares of Western Midstream Partners by 293.1% during the 3rd quarter. MAI Capital Management now owns 29,878 shares of the pipeline company’s stock worth $1,143,000 after buying an additional 22,277 shares during the last quarter. Fractal Investments LLC lifted its position in shares of Western Midstream Partners by 5.4% during the 3rd quarter. Fractal Investments LLC now owns 1,465,706 shares of the pipeline company’s stock worth $56,078,000 after buying an additional 75,145 shares during the last quarter. Highland Capital Management LLC bought a new stake in shares of Western Midstream Partners during the 2nd quarter worth $516,000. International Assets Investment Management LLC lifted its position in shares of Western Midstream Partners by 9,082.5% during the 3rd quarter. International Assets Investment Management LLC now owns 18,365 shares of the pipeline company’s stock worth $703,000 after buying an additional 18,165 shares during the last quarter. Finally, Raymond James & Associates lifted its position in shares of Western Midstream Partners by 30.2% during the 2nd quarter. Raymond James & Associates now owns 103,883 shares of the pipeline company’s stock worth $4,127,000 after buying an additional 24,072 shares during the last quarter. 42.94% of the stock is owned by institutional investors and hedge funds.

Western Midstream Partners Trading Up 2.3 %

Shares of Western Midstream Partners stock opened at $39.65 on Thursday. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.11 and a current ratio of 1.11. Western Midstream Partners, LP has a 52 week low of $26.81 and a 52 week high of $42.80. The stock has a 50 day moving average price of $38.27 and a two-hundred day moving average price of $38.72. The stock has a market capitalization of $15.09 billion, a PE ratio of 10.11, a price-to-earnings-growth ratio of 1.04 and a beta of 2.88.

Western Midstream Partners (NYSE:WES) last announced its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.09). Western Midstream Partners had a net margin of 42.99% and a return on equity of 46.02%. The firm had revenue of $883.36 million during the quarter, compared to analyst estimates of $924.83 million. During the same period last year, the business posted $0.70 EPS. The company’s revenue was up 13.8% on a year-over-year basis. As a group, equities analysts anticipate that Western Midstream Partners, LP will post 4.09 earnings per share for the current fiscal year.

Western Midstream Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were paid a $0.875 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.50 dividend on an annualized basis and a yield of 8.83%. Western Midstream Partners’s dividend payout ratio (DPR) is presently 89.29%.

Analysts Set New Price Targets

Several brokerages recently weighed in on WES. StockNews.com downgraded Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 28th. Morgan Stanley downgraded Western Midstream Partners from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $42.00 to $40.00 in a research report on Friday, October 25th. Stifel Nicolaus increased their target price on Western Midstream Partners from $39.00 to $40.00 and gave the company a “hold” rating in a research report on Friday, August 9th. UBS Group dropped their target price on Western Midstream Partners from $40.00 to $37.00 and set a “neutral” rating for the company in a research report on Friday, November 15th. Finally, Bank of America started coverage on Western Midstream Partners in a research report on Thursday, October 17th. They issued an “underperform” rating and a $37.00 target price for the company. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $37.88.

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.