Western Midstream Partners, LP $WES Shares Acquired by Infrastructure Capital Advisors LLC

Infrastructure Capital Advisors LLC lifted its holdings in shares of Western Midstream Partners, LP (NYSE:WES) by 6.7% in the first quarter, Holdings Channel.com reports. The institutional investor owned 1,234,879 shares of the pipeline company’s stock after purchasing an additional 77,202 shares during the quarter. Western Midstream Partners makes up 3.5% of Infrastructure Capital Advisors LLC’s portfolio, making the stock its 8th largest holding. Infrastructure Capital Advisors LLC’s holdings in Western Midstream Partners were worth $50,840,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Berkley W R Corp boosted its stake in Western Midstream Partners by 42.8% in the first quarter. Berkley W R Corp now owns 1,266,970 shares of the pipeline company’s stock valued at $52,161,000 after acquiring an additional 379,807 shares during the period. Empirical Finance LLC grew its holdings in shares of Western Midstream Partners by 86.8% during the first quarter. Empirical Finance LLC now owns 442,189 shares of the pipeline company’s stock valued at $18,205,000 after purchasing an additional 205,421 shares during the last quarter. Bollard Group LLC raised its position in shares of Western Midstream Partners by 2.1% during the 1st quarter. Bollard Group LLC now owns 16,219 shares of the pipeline company’s stock worth $668,000 after purchasing an additional 338 shares during the period. Lido Advisors LLC acquired a new stake in shares of Western Midstream Partners during the 1st quarter worth approximately $654,000. Finally, Cetera Investment Advisers lifted its holdings in shares of Western Midstream Partners by 3.3% in the 1st quarter. Cetera Investment Advisers now owns 104,295 shares of the pipeline company’s stock worth $4,294,000 after purchasing an additional 3,291 shares during the last quarter. Institutional investors and hedge funds own 84.82% of the company’s stock.

Western Midstream Partners Stock Performance

Shares of NYSE WES opened at $46.69 on Tuesday. Western Midstream Partners, LP has a 12-month low of $36.90 and a 12-month high of $48.63. The company has a market cap of $18.39 billion, a PE ratio of 15.26, a P/E/G ratio of 1.97 and a beta of 0.68. The stock has a 50 day simple moving average of $44.66 and a 200-day simple moving average of $42.75. 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 posted its earnings results on Wednesday, May 6th. The pipeline company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.74 by $0.11. The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Western Midstream Partners had a return on equity of 33.89% and a net margin of 29.98%.The firm’s revenue was up 22.5% compared to the same quarter last year. During the same period last year, the firm earned $0.79 EPS. On average, equities research analysts forecast that Western Midstream Partners, LP will post 3.49 EPS for the current year.

Western Midstream Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be paid a $0.93 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a $3.72 annualized dividend and a dividend yield of 8.0%. Western Midstream Partners’s dividend payout ratio is presently 121.57%.

Analyst Ratings Changes

A number of research analysts recently issued reports on WES shares. US Capital Advisors upgraded Western Midstream Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Friday, May 29th. Stifel Nicolaus set a $46.00 target price on Western Midstream Partners and gave the stock a “buy” rating in a research report on Thursday, May 7th. Citigroup raised their target price 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. Wells Fargo & Company boosted their price target on shares of Western Midstream Partners from $41.00 to $43.00 and gave the company an “equal weight” rating in a report on Wednesday, May 13th. Finally, Morgan Stanley upgraded shares of Western Midstream Partners from an “underweight” rating to an “equal weight” rating and set a $51.00 price target for the company in a research report on Wednesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $46.25.

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.