Western Midstream Partners, LP (NYSE:WES) Short Interest Update

Western Midstream Partners, LP (NYSE:WES) was the target of a significant growth in short interest during the month of February. As of February 27th, there was short interest totaling 6,669,889 shares, a growth of 16.6% from the February 12th total of 5,720,726 shares. Currently, 1.7% of the shares of the stock are short sold. Based on an average daily volume of 2,048,186 shares, the days-to-cover ratio is currently 3.3 days. Based on an average daily volume of 2,048,186 shares, the days-to-cover ratio is currently 3.3 days. Currently, 1.7% of the shares of the stock are short sold.

Insider Activity at Western Midstream Partners

In related news, SVP Christopher B. Dial sold 5,879 shares of the company’s stock in a transaction that occurred on Thursday, February 12th. The stock was 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 approximately $7,835,215.85. This represents a 3.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert G. Phillips bought 1,250 shares of Western Midstream Partners stock in a transaction that occurred on Wednesday, March 11th. The stock was bought at an average cost of $40.19 per share, for a total transaction of $50,237.50. Following the purchase, the director owned 5,296 shares in the company, valued at $212,846.24. This represents a 30.89% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.04% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Eagle Bay Advisors LLC acquired a new stake in shares of Western Midstream Partners in the fourth quarter worth approximately $27,000. Northwestern Mutual Wealth Management Co. acquired a new position in Western Midstream Partners during the fourth quarter worth approximately $27,000. Rothschild Investment LLC increased its position in Western Midstream Partners by 76.2% during the fourth quarter. Rothschild Investment LLC now owns 793 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 343 shares during the last quarter. Garton & Associates Financial Advisors LLC purchased a new position in Western Midstream Partners during the fourth quarter worth approximately $32,000. Finally, Global Wealth Strategies & Associates acquired a new position in shares of Western Midstream Partners in the 4th quarter valued at $35,000. Institutional investors and hedge funds own 84.82% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on WES. Stifel Nicolaus cut their price target on Western Midstream Partners from $43.00 to $42.00 and set a “hold” rating for the company in a report on Friday, February 20th. JPMorgan Chase & Co. decreased their price objective on Western Midstream Partners from $44.00 to $43.00 and set a “neutral” rating on the stock in a research note on Thursday, March 12th. Wall Street Zen cut Western Midstream Partners from a “buy” rating to a “hold” rating in a research report on Saturday, December 27th. Wells Fargo & Company boosted their target price on shares of Western Midstream Partners from $39.00 to $41.00 and gave the company an “equal weight” rating in a research note on Friday, March 13th. Finally, Royal Bank Of Canada upped 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. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $41.71.

Western Midstream Partners Trading Up 1.1%

Shares of Western Midstream Partners stock opened at $41.48 on Wednesday. Western Midstream Partners has a fifty-two week low of $33.60 and a fifty-two week high of $44.74. The business’s fifty day moving average is $41.43 and its two-hundred day moving average is $39.71. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.97. The firm has a market cap of $16.33 billion, a PE ratio of 13.83 and a beta of 0.76.

Western Midstream Partners (NYSE:WES) last announced 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 business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Western Midstream Partners had a net margin of 30.52% and a return on equity of 33.14%. Western Midstream Partners’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.85 EPS. Analysts anticipate that Western Midstream Partners will post 4.02 earnings per share for the current year.

Western Midstream Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Monday, February 2nd were issued a $0.91 dividend. The ex-dividend date was Monday, February 2nd. This represents a $3.64 annualized dividend and a yield of 8.8%. Western Midstream Partners’s payout ratio is 121.33%.

About Western Midstream Partners

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.