Simon Quick Advisors LLC Takes Position in Western Midstream Partners, LP $WES

Simon Quick Advisors LLC bought a new position in Western Midstream Partners, LP (NYSE:WES) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 17,400 shares of the pipeline company’s stock, valued at approximately $687,000.

Other large investors have also recently modified their holdings of the company. Eagle Bay Advisors LLC purchased a new position in Western Midstream Partners in the 4th quarter valued at approximately $27,000. Global Wealth Strategies & Associates purchased a new position in Western Midstream Partners during the fourth quarter worth about $35,000. Jones Financial Companies Lllp increased its position in shares of Western Midstream Partners by 86.1% in the third quarter. Jones Financial Companies Lllp now owns 908 shares of the pipeline company’s stock worth $36,000 after purchasing an additional 420 shares during the last quarter. Fulcrum Asset Management LLP bought a new stake in Western Midstream Partners during the third quarter valued at approximately $41,000. Finally, Whittier Trust Co. bought a new stake in Western Midstream Partners during the fourth quarter valued at approximately $42,000. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Western Midstream Partners Stock Performance

Shares of NYSE:WES opened at $40.99 on Monday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.97. The company has a 50-day moving average price of $41.38 and a 200-day moving average price of $40.22. The company has a market cap of $16.13 billion, a price-to-earnings ratio of 13.66 and a beta of 0.73. Western Midstream Partners, LP has a 12 month low of $35.25 and a 12 month high of $44.74.

Western Midstream Partners (NYSE:WES) last posted its earnings results on Wednesday, February 18th. The pipeline company reported $0.47 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the previous year, the business earned $0.85 earnings per share. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, equities analysts anticipate that Western Midstream Partners, LP will post 3.26 EPS for the current year.

Western Midstream Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Friday, May 1st will be issued a $0.93 dividend. This is an increase from Western Midstream Partners’s previous quarterly dividend of $0.91. The ex-dividend date is Friday, May 1st. This represents a $3.72 annualized dividend and a yield of 9.1%. Western Midstream Partners’s dividend payout ratio (DPR) is 121.33%.

Insider Buying and Selling

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 transaction of $248,975.65. Following the completion of the transaction, the senior vice president owned 185,011 shares in the company, valued at $7,835,215.85. This represents a 3.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert G. Phillips purchased 1,250 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The stock was acquired at an average cost of $40.19 per share, with a total value of $50,237.50. Following the purchase, the director directly owned 5,296 shares of the company’s stock, valued at $212,846.24. This trade represents a 30.89% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.04% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on WES shares. JPMorgan Chase & Co. cut their target price on shares of Western Midstream Partners from $44.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, March 12th. Stifel Nicolaus decreased their price objective on Western Midstream Partners from $43.00 to $42.00 and set a “hold” rating on the stock in a report on Friday, February 20th. Finally, Wells Fargo & Company boosted their target price on 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. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $41.71.

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.