Insider Buying: Western Midstream Partners (NYSE:WES) Director Purchases $249,906.80 in Stock

Western Midstream Partners, LP (NYSE:WES) Director Frederick Forthuber bought 5,140 shares of the business’s stock in a transaction on Wednesday, August 12th. The shares were acquired at an average price of $48.62 per share, with a total value of $249,906.80. Following the transaction, the director owned 5,140 shares of the company’s stock, valued at $249,906.80. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Western Midstream Partners Price Performance

Shares of WES stock traded up $0.16 during trading hours on Wednesday, hitting $48.28. The company’s stock had a trading volume of 643,313 shares, compared to its average volume of 1,301,168. The business has a fifty day moving average of $45.13 and a 200-day moving average of $43.20. The stock has a market cap of $19.95 billion, a price-to-earnings ratio of 15.18, a P/E/G ratio of 1.95 and a beta of 0.68. Western Midstream Partners, LP has a twelve month low of $36.90 and a twelve month high of $48.84. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.34.

Western Midstream Partners (NYSE:WES) last issued its quarterly earnings data on Wednesday, August 5th. The pipeline company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.08. Western Midstream Partners had a return on equity of 34.79% and a net margin of 29.44%.The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the firm posted $0.87 EPS. The company’s quarterly revenue was up 30.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Western Midstream Partners, LP will post 3.52 EPS for the current year.

Western Midstream Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be given a dividend of $0.93 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a $3.72 annualized dividend and a yield of 7.7%. Western Midstream Partners’s dividend payout ratio (DPR) is presently 116.98%.

Hedge Funds Weigh In On Western Midstream Partners

Several large investors have recently added to or reduced their stakes in the business. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Western Midstream Partners by 0.9% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 30,784 shares of the pipeline company’s stock worth $1,218,000 after purchasing an additional 284 shares during the last quarter. Captrust Financial Advisors raised its holdings in shares of Western Midstream Partners by 0.6% during the fourth quarter. Captrust Financial Advisors now owns 45,995 shares of the pipeline company’s stock valued at $1,817,000 after buying an additional 287 shares during the last quarter. M&T Bank Corp grew its holdings in Western Midstream Partners by 3.5% in the 4th quarter. M&T Bank Corp now owns 8,540 shares of the pipeline company’s stock worth $337,000 after buying an additional 288 shares in the last quarter. Mutual Advisors LLC increased its position in Western Midstream Partners by 1.9% in the 4th quarter. Mutual Advisors LLC now owns 15,453 shares of the pipeline company’s stock valued at $610,000 after acquiring an additional 292 shares during the period. Finally, Pasadena Private Wealth LLC raised its stake in Western Midstream Partners by 5.2% during the 1st quarter. Pasadena Private Wealth LLC now owns 6,110 shares of the pipeline company’s stock valued at $252,000 after acquiring an additional 300 shares in the last quarter. 84.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on WES shares. Wall Street Zen downgraded Western Midstream Partners from a “buy” rating to a “hold” rating in a research report on Saturday. Mizuho boosted their target price on shares of Western Midstream Partners from $48.00 to $51.00 and gave the company an “outperform” rating in a research note on Tuesday, July 14th. Citigroup upped their target price on shares of Western Midstream Partners from $42.00 to $45.00 and gave the company a “neutral” rating in a report on Tuesday. Wells Fargo & Company raised their price target on shares of Western Midstream Partners from $43.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Monday. Finally, UBS Group lifted their price target on shares of Western Midstream Partners from $45.00 to $48.00 and gave the stock a “neutral” rating in a report on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $47.00.

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.