Western Midstream Partners, LP $WES Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. lessened its stake in Western Midstream Partners, LP (NYSE:WES) by 21.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 42,874 shares of the pipeline company’s stock after selling 11,595 shares during the quarter. Pacer Advisors Inc.’s holdings in Western Midstream Partners were worth $1,765,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its position in shares of Western Midstream Partners by 6.4% in the second quarter. Geode Capital Management LLC now owns 8,525 shares of the pipeline company’s stock valued at $330,000 after purchasing an additional 512 shares during the period. Creative Planning raised its position in shares of Western Midstream Partners by 17.0% during the 2nd 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 lifted its stake in Western Midstream Partners by 6.0% in the 2nd quarter. Guggenheim Capital LLC now owns 23,029 shares of the pipeline company’s stock valued at $891,000 after buying an additional 1,298 shares in the last quarter. Cerity Partners LLC lifted its stake in Western Midstream Partners by 39.1% in the 2nd quarter. Cerity Partners LLC now owns 25,003 shares of the pipeline company’s stock valued at $968,000 after buying an additional 7,032 shares in the last quarter. Finally, NewEdge Advisors LLC acquired a new stake in Western Midstream Partners in the 2nd quarter worth about $2,172,000. 84.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Wall Street Zen lowered Western Midstream Partners from a “buy” rating to a “hold” rating in a research note on Saturday. UBS Group lifted their price target on Western Midstream Partners from $45.00 to $48.00 and gave the stock a “neutral” rating in a research note on Friday, July 10th. Stifel Nicolaus set a $46.00 price target on Western Midstream Partners and gave the stock a “buy” rating in a research report on Thursday, May 7th. Citigroup increased their price objective on Western Midstream Partners from $39.00 to $42.00 and gave the company a “neutral” rating in a research note on Tuesday, May 12th. Finally, JPMorgan Chase & Co. increased their price objective on Western Midstream Partners from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $46.25.

Western Midstream Partners Stock Down 0.6%

Shares of NYSE WES opened at $46.68 on Friday. Western Midstream Partners, LP has a 12-month low of $36.90 and a 12-month high of $48.63. The stock has a market cap of $19.29 billion, a PE ratio of 14.68, a P/E/G ratio of 1.93 and a beta of 0.68. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.34. The company has a 50-day moving average of $44.95 and a 200 day moving average of $43.09.

Western Midstream Partners (NYSE:WES) last released its earnings results on Wednesday, August 5th. The pipeline company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.08. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.13 billion. Western Midstream Partners had a net margin of 29.44% and a return on equity of 34.79%. The business’s revenue was up 30.0% on a year-over-year basis. During the same period last year, the company posted $0.87 EPS. As a group, sell-side analysts predict that Western Midstream Partners, LP will post 3.52 EPS for the current fiscal year.

Western Midstream Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be issued a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 8.0%. The ex-dividend date of this dividend is Friday, July 31st. Western Midstream Partners’s dividend payout ratio (DPR) is currently 116.98%.

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.