33,200 Western Midstream Partners, LP $WES Shares Purchased by Adams Asset Advisors LLC

Adams Asset Advisors LLC grew its holdings in Western Midstream Partners, LP (NYSE:WES) by 8.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 408,023 shares of the pipeline company’s stock after buying an additional 33,200 shares during the quarter. Western Midstream Partners accounts for approximately 1.7% of Adams Asset Advisors LLC’s holdings, making the stock its 15th biggest holding. Adams Asset Advisors LLC’s holdings in Western Midstream Partners were worth $18,104,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Everhart Financial Group Inc. bought a new stake in Western Midstream Partners in the third quarter valued at about $482,000. Venture Visionary Partners LLC boosted its holdings in Western Midstream Partners by 163.7% during the third quarter. Venture Visionary Partners LLC now owns 17,141 shares of the pipeline company’s stock valued at $761,000 after purchasing an additional 10,641 shares in the last quarter. Tidal Investments LLC grew its stake in shares of Western Midstream Partners by 77.5% in the 2nd quarter. Tidal Investments LLC now owns 8,769 shares of the pipeline company’s stock valued at $384,000 after purchasing an additional 3,828 shares during the period. Integrated Wealth Concepts LLC grew its stake in shares of Western Midstream Partners by 59.9% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 9,922 shares of the pipeline company’s stock valued at $434,000 after purchasing an additional 3,717 shares during the period. Finally, NewEdge Advisors LLC raised its holdings in shares of Western Midstream Partners by 8.1% in the 2nd quarter. NewEdge Advisors LLC now owns 71,977 shares of the pipeline company’s stock worth $3,150,000 after buying an additional 5,393 shares in the last quarter. 84.82% of the stock is owned by institutional investors.

Western Midstream Partners Price Performance

Western Midstream Partners stock traded up $0.35 on Thursday, reaching $45.91. The company’s stock had a trading volume of 583,646 shares, compared to its average volume of 1,202,849. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market cap of $18.97 billion, a price-to-earnings ratio of 14.44, a PEG ratio of 1.36 and a beta of 0.74. The business’s fifty day moving average price is $47.44 and its 200 day moving average price is $44.95. Western Midstream Partners, LP has a twelve month low of $36.90 and a twelve month high of $50.07.

Western Midstream Partners (NYSE:WES) last announced its earnings results on Wednesday, August 5th. The pipeline company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.08. Western Midstream Partners had a return on equity of 33.13% and a net margin of 29.44%.The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same period last year, the company posted $0.87 earnings per share. The firm’s quarterly revenue was up 30.0% compared to the same quarter last year. Equities analysts expect that Western Midstream Partners, LP will post 3.66 earnings per share for the current fiscal year.

Western Midstream Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were paid a $0.93 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a $3.72 dividend on an annualized basis and a dividend yield of 8.1%. Western Midstream Partners’s payout ratio is currently 116.98%.

Insider Activity

In related news, Director Frederick Forthuber purchased 5,140 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The shares were acquired at an average cost of $48.62 per share, with a total value of $249,906.80. Following the completion of the purchase, the director directly owned 5,140 shares of the company’s stock, valued at $249,906.80. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.04% of the company’s stock.

Wall Street Analyst Weigh In

WES has been the subject of several analyst reports. Wall Street Zen upgraded Western Midstream Partners from a “hold” rating to a “buy” rating in a research report on Saturday, October 3rd. UBS Group increased their price objective on Western Midstream Partners from $45.00 to $48.00 and gave the stock a “neutral” rating in a research note on Friday, July 10th. Truist Financial initiated coverage on Western Midstream Partners in a report on Thursday, September 17th. They set a “buy” rating and a $55.00 price objective for the company. Mizuho boosted their target price on shares of Western Midstream Partners from $48.00 to $51.00 and gave the company an “outperform” rating in a research note on Tuesday, July 14th. Finally, Citigroup increased their target price on shares of Western Midstream Partners from $42.00 to $45.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 11th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $49.89.

About Western Midstream Partners

Western Midstream Partners, LP (NYSE: WES) is a publicly traded master limited partnership that owns and operates midstream energy infrastructure in the United States. The company provides services that connect oil and natural gas production with processing facilities, pipelines, storage systems and end markets.

Its operations include the gathering, processing, treating, transportation and storage of natural gas, natural gas liquids and crude oil. Western Midstream also provides gathering and disposal services for produced water, a byproduct of oil and gas production.