Western Midstream Partners (NYSE:WES) Director Purchases $50,237.50 in Stock

Western Midstream Partners, LP (NYSE:WES) Director Robert Phillips purchased 1,250 shares of the company’s stock in a transaction dated Wednesday, March 11th. The stock was purchased at an average price of $40.19 per share, with a total value of $50,237.50. Following the transaction, the director owned 5,296 shares of the company’s stock, valued at approximately $212,846.24. This represents a 30.89% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Western Midstream Partners Price Performance

Western Midstream Partners stock opened at $40.85 on Friday. The firm has a market capitalization of $16.08 billion, a PE ratio of 13.62 and a beta of 0.76. Western Midstream Partners, LP has a 52 week low of $33.60 and a 52 week high of $44.74. The firm’s 50-day simple moving average is $41.37 and its 200 day simple moving average is $39.67. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.97.

Western Midstream Partners (NYSE:WES) last released its earnings results on Wednesday, February 18th. The pipeline company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.44). Western Midstream Partners had a return on equity of 33.14% and a net margin of 30.52%.The business had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter last year, the company posted $0.85 earnings per share. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, equities research analysts predict that Western Midstream Partners, LP will post 4.02 EPS for the current fiscal year.

Western Midstream Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 2nd were issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 8.9%. The ex-dividend date was Monday, February 2nd. Western Midstream Partners’s dividend payout ratio is presently 121.33%.

Institutional Trading of Western Midstream Partners

A number of institutional investors and hedge funds have recently bought and sold shares of WES. Prospera Financial Services Inc raised its holdings in Western Midstream Partners by 25.6% in the second quarter. Prospera Financial Services Inc now owns 11,326 shares of the pipeline company’s stock valued at $438,000 after buying an additional 2,306 shares during the period. ProShare Advisors LLC lifted its position in Western Midstream Partners by 20.2% during the second quarter. ProShare Advisors LLC now owns 15,602 shares of the pipeline company’s stock valued at $604,000 after buying an additional 2,625 shares in the last quarter. Allworth Financial LP purchased a new stake in Western Midstream Partners during the second quarter worth approximately $43,000. Geode Capital Management LLC grew its stake in Western Midstream Partners by 6.4% during the second quarter. Geode Capital Management LLC now owns 8,525 shares of the pipeline company’s stock worth $330,000 after buying an additional 512 shares during the period. Finally, Creative Planning increased its position in shares of Western Midstream Partners by 17.0% in the second quarter. Creative Planning now owns 6,878 shares of the pipeline company’s stock worth $266,000 after acquiring an additional 999 shares in the last quarter. Institutional investors and hedge funds own 84.82% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on WES. Royal Bank Of Canada boosted their target price on shares of Western Midstream Partners from $39.00 to $42.00 and gave the company a “sector perform” rating in a report on Friday, November 28th. Stifel Nicolaus cut their price target on shares of Western Midstream Partners from $43.00 to $42.00 and set a “hold” rating on the stock in a research note on Friday, February 20th. Wells Fargo & Company lifted their price target on shares of Western Midstream Partners from $39.00 to $41.00 and gave the company an “equal weight” rating in a report on Friday. Wall Street Zen cut shares of Western Midstream Partners from a “buy” rating to a “hold” rating in a research note on Saturday, December 27th. Finally, JPMorgan Chase & Co. dropped their price objective on Western Midstream Partners from $44.00 to $43.00 and set a “neutral” rating for the company in a report on Thursday. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Western Midstream Partners presently has an average rating of “Hold” and a consensus target price of $41.71.

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.