Prevail Innovative Wealth Advisors LLC Acquires New Stake in Western Midstream Partners, LP $WES

Prevail Innovative Wealth Advisors LLC bought a new stake in Western Midstream Partners, LP (NYSE:WES) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 76,149 shares of the pipeline company’s stock, valued at approximately $2,992,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp increased its stake in shares of Western Midstream Partners by 86.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 908 shares of the pipeline company’s stock worth $36,000 after acquiring an additional 420 shares during the last quarter. MTM Investment Management LLC purchased a new stake in shares of Western Midstream Partners in the 2nd quarter valued at approximately $39,000. Allworth Financial LP purchased a new stake in Western Midstream Partners in the second quarter valued at approximately $43,000. Mather Group LLC. purchased a new stake in shares of Western Midstream Partners in the 3rd quarter valued at $49,000. Finally, Global Retirement Partners LLC lifted its position in shares of Western Midstream Partners by 39.0% during the third quarter. Global Retirement Partners LLC now owns 1,850 shares of the pipeline company’s stock worth $73,000 after purchasing an additional 519 shares in the last quarter. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on WES shares. Wall Street Zen cut Western Midstream Partners from a “buy” rating to a “hold” rating in a research note on Saturday, December 27th. Stifel Nicolaus reduced their price objective on shares of Western Midstream Partners from $43.00 to $42.00 and set a “hold” rating for the company in a research report on Friday, February 20th. Royal Bank Of Canada boosted their target price on Western Midstream Partners from $39.00 to $42.00 and gave the company a “sector perform” rating in a report on Friday, November 28th. Finally, Wells Fargo & Company decreased their price target on shares of Western Midstream Partners from $40.00 to $39.00 and set an “equal weight” rating for the company in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $41.17.

Western Midstream Partners Price Performance

Western Midstream Partners stock opened at $41.82 on Friday. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.34 and a current ratio of 1.34. Western Midstream Partners, LP has a one year low of $33.60 and a one year high of $44.74. The business has a fifty day moving average of $41.25 and a two-hundred day moving average of $39.58. The company has a market cap of $16.46 billion, a P/E ratio of 13.94 and a beta of 0.76.

Western Midstream Partners (NYSE:WES) last released its quarterly earnings data on Wednesday, February 18th. The pipeline company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.44). The company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Western Midstream Partners had a return on equity of 33.14% and a net margin of 30.52%.The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.85 EPS. As a group, 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 company also recently declared a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 2nd were paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 8.7%. The ex-dividend date of this dividend was Monday, February 2nd. Western Midstream Partners’s payout ratio is 121.33%.

Insider Transactions at Western Midstream Partners

In other Western Midstream Partners news, SVP Christopher B. Dial sold 5,879 shares of the company’s stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $42.35, for a total value of $248,975.65. Following the sale, the senior vice president owned 185,011 shares of the company’s stock, valued at $7,835,215.85. This represents a 3.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.04% of the company’s stock.

Western Midstream Partners Company Profile

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.