Infrastructure Capital Advisors LLC Increases Stake in Western Midstream Partners, LP $WES

Infrastructure Capital Advisors LLC raised its position in shares of Western Midstream Partners, LP (NYSE:WES) by 10.7% during the fourth quarter, HoldingsChannel reports. The fund owned 1,157,677 shares of the pipeline company’s stock after acquiring an additional 111,961 shares during the quarter. Western Midstream Partners accounts for approximately 4.4% of Infrastructure Capital Advisors LLC’s investment portfolio, making the stock its 8th largest holding. Infrastructure Capital Advisors LLC’s holdings in Western Midstream Partners were worth $45,728,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of WES. Geode Capital Management LLC increased its position 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 valued at $330,000 after acquiring an additional 512 shares during the last quarter. Creative Planning grew its holdings 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 purchasing an additional 999 shares during the last quarter. Guggenheim Capital LLC grew its holdings in shares of Western Midstream Partners by 6.0% in the second quarter. Guggenheim Capital LLC now owns 23,029 shares of the pipeline company’s stock worth $891,000 after purchasing an additional 1,298 shares during the last quarter. Cerity Partners LLC grew its holdings in shares of Western Midstream Partners by 39.1% in the second quarter. Cerity Partners LLC now owns 25,003 shares of the pipeline company’s stock worth $968,000 after purchasing an additional 7,032 shares during the last quarter. Finally, NewEdge Advisors LLC bought a new position in shares of Western Midstream Partners in the second quarter worth about $2,172,000. Institutional investors own 84.82% of the company’s stock.

Analysts Set New Price Targets

WES has been the topic of a number of research analyst reports. Mizuho initiated coverage on shares of Western Midstream Partners in a report on Wednesday. They issued an “outperform” rating and a $48.00 price target on the stock. UBS Group upped their price target on shares of Western Midstream Partners from $40.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, May 21st. Wall Street Zen upgraded shares of Western Midstream Partners from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Wells Fargo & Company upped their price target on shares of Western Midstream Partners from $41.00 to $43.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 13th. Finally, Stifel Nicolaus set a $46.00 price target on shares of Western Midstream Partners and gave the stock a “buy” rating in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Western Midstream Partners has an average rating of “Hold” and a consensus target price of $45.00.

Western Midstream Partners Stock Down 0.6%

NYSE:WES opened at $43.50 on Thursday. Western Midstream Partners, LP has a 1-year low of $36.90 and a 1-year high of $48.01. The company has a 50-day moving average of $43.28 and a 200 day moving average of $41.69. The firm has a market cap of $17.13 billion, a PE ratio of 14.22, a price-to-earnings-growth ratio of 1.84 and a beta of 0.68. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.09 and a quick ratio of 1.09.

Western Midstream Partners (NYSE:WES) last released its quarterly earnings data on Wednesday, May 6th. The pipeline company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.11. Western Midstream Partners had a net margin of 29.98% and a return on equity of 33.89%. The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period in the prior year, the firm earned $0.79 earnings per share. The firm’s revenue for the quarter was up 22.5% compared to the same quarter last year. As a group, research analysts anticipate that Western Midstream Partners, LP will post 3.44 EPS for the current fiscal year.

Western Midstream Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 8.6%. This is a boost from Western Midstream Partners’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend was Friday, May 1st. Western Midstream Partners’s payout ratio is currently 121.57%.

Western Midstream Partners 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.