Waverly Advisors LLC Sells 102,424 Shares of Western Midstream Partners, LP $WES

Waverly Advisors LLC decreased its stake in Western Midstream Partners, LP (NYSE:WES) by 28.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 253,319 shares of the pipeline company’s stock after selling 102,424 shares during the quarter. Waverly Advisors LLC’s holdings in Western Midstream Partners were worth $10,429,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on WES shares. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Western Midstream Partners in a report on Tuesday, July 21st. Mizuho raised their price objective on shares of Western Midstream Partners from $48.00 to $51.00 and gave the stock an “outperform” rating in a report on Tuesday, July 14th. Citigroup boosted their price objective on shares of Western Midstream Partners from $39.00 to $42.00 and gave the company a “neutral” rating in a research report on Tuesday, May 12th. JPMorgan Chase & Co. upped their target price on shares of Western Midstream Partners from $46.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. Finally, UBS Group increased their target price on Western Midstream Partners from $45.00 to $48.00 and gave the stock a “neutral” rating in a report on Friday, July 10th. One investment 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. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $46.25.

Western Midstream Partners Price Performance

Shares of WES opened at $46.69 on Tuesday. The stock has a market capitalization of $18.39 billion, a P/E ratio of 15.26, a P/E/G ratio of 1.97 and a beta of 0.68. Western Midstream Partners, LP has a twelve month low of $36.90 and a twelve month high of $48.63. The company has a 50 day moving average of $44.66 and a 200-day moving average of $42.75. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 2.34.

Western Midstream Partners (NYSE:WES) last posted its quarterly earnings data on Wednesday, May 6th. The pipeline company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.11. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.01 billion. Western Midstream Partners had a net margin of 29.98% and a return on equity of 33.89%. The firm’s revenue was up 22.5% compared to the same quarter last year. During the same period last year, the company earned $0.79 earnings per share. As a group, equities research analysts forecast that Western Midstream Partners, LP will post 3.49 EPS for the current fiscal year.

Western Midstream Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be given a $0.93 dividend. This represents a $3.72 dividend on an annualized basis 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 presently 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.