Western Midstream Partners (NYSE:WES) Director Frederick Forthuber Buys 5,140 Shares of Stock

Western Midstream Partners, LP (NYSE:WES) Director Frederick Forthuber acquired 5,140 shares of the company’s stock in a transaction dated Wednesday, August 12th. The stock was purchased at an average cost of $48.62 per share, for a total transaction of $249,906.80. Following the purchase, the director directly owned 5,140 shares in the company, valued at approximately $249,906.80. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is available through this link.

Western Midstream Partners Trading Up 0.3%

Shares of Western Midstream Partners stock opened at $48.28 on Thursday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 2.34. The firm has a market cap of $19.95 billion, a price-to-earnings ratio of 15.18, a price-to-earnings-growth ratio of 1.98 and a beta of 0.68. The business has a fifty day simple moving average of $45.21 and a 200-day simple moving average of $43.25. Western Midstream Partners, LP has a fifty-two week low of $36.90 and a fifty-two week high of $48.84.

Western Midstream Partners (NYSE:WES) last released its earnings results on Wednesday, August 5th. The pipeline company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.13 billion. During the same period in the previous year, the company earned $0.87 earnings per share. Western Midstream Partners’s revenue was up 30.0% compared to the same quarter last year. On average, equities analysts forecast that Western Midstream Partners, LP will post 3.52 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 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 7.7%. Western Midstream Partners’s payout ratio is currently 116.98%.

Institutional Investors Weigh In On Western Midstream Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WES. Eagle Bay Advisors LLC acquired a new stake in Western Midstream Partners during the fourth quarter valued at $27,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Western Midstream Partners during the 4th quarter valued at about $27,000. Rothschild Investment LLC grew its stake in shares of Western Midstream Partners by 76.2% in the 4th quarter. Rothschild Investment LLC now owns 793 shares of the pipeline company’s stock valued at $31,000 after buying an additional 343 shares in the last quarter. Garton & Associates Financial Advisors LLC bought a new stake in shares of Western Midstream Partners in the 4th quarter valued at approximately $32,000. Finally, Glen Eagle Advisors LLC increased its holdings in Western Midstream Partners by 843.0% in the fourth quarter. Glen Eagle Advisors LLC now owns 943 shares of the pipeline company’s stock worth $37,000 after buying an additional 843 shares during the last quarter. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. US Capital Advisors upgraded shares of Western Midstream Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, May 29th. JPMorgan Chase & Co. upped their price target on Western Midstream Partners from $46.00 to $47.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. UBS Group increased their price objective on Western Midstream Partners from $45.00 to $48.00 and gave the company a “neutral” rating in a research report on Friday, July 10th. Citigroup raised their price objective on Western Midstream Partners from $42.00 to $45.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Wells Fargo & Company lifted their target price on Western Midstream Partners from $43.00 to $46.00 and gave the stock an “equal weight” rating in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Western Midstream Partners currently has a consensus rating of “Hold” and an average target price of $47.00.

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.