Requisite Capital Management LLC Increases Stock Holdings in Western Midstream Partners, LP $WES

Requisite Capital Management LLC increased its holdings in shares of Western Midstream Partners, LP (NYSE:WES) by 6.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,915 shares of the pipeline company’s stock after buying an additional 2,195 shares during the quarter. Western Midstream Partners accounts for about 0.3% of Requisite Capital Management LLC’s portfolio, making the stock its 24th largest position. Requisite Capital Management LLC’s holdings in Western Midstream Partners were worth $1,313,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WES. Kingstone Capital Partners Texas LLC purchased a new position in Western Midstream Partners during the 2nd quarter worth $156,967,000. Alps Advisors Inc. grew its stake in Western Midstream Partners by 7.6% during the 1st quarter. Alps Advisors Inc. now owns 33,824,487 shares of the pipeline company’s stock valued at $1,385,451,000 after purchasing an additional 2,400,891 shares during the last quarter. Invesco Ltd. grew its stake in Western Midstream Partners by 7.1% during the 1st quarter. Invesco Ltd. now owns 24,417,770 shares of the pipeline company’s stock valued at $1,000,152,000 after purchasing an additional 1,608,609 shares during the last quarter. Longfellow Investment Management Co. LLC grew its stake in Western Midstream Partners by 90.5% during the 1st quarter. Longfellow Investment Management Co. LLC now owns 985,718 shares of the pipeline company’s stock valued at $40,375,000 after purchasing an additional 468,303 shares during the last quarter. Finally, Northern Trust Corp grew its stake in Western Midstream Partners by 2,725.4% during the 1st quarter. Northern Trust Corp now owns 367,330 shares of the pipeline company’s stock valued at $15,046,000 after purchasing an additional 354,329 shares during the last quarter. 84.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the company. Mizuho boosted their price target on Western Midstream Partners from $44.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, August 29th. Morgan Stanley dropped their price target on Western Midstream Partners from $41.00 to $39.00 and set an “underweight” rating on the stock in a research note on Tuesday, August 26th. Finally, Royal Bank Of Canada boosted their price target on Western Midstream Partners from $38.00 to $39.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 26th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Western Midstream Partners currently has an average rating of “Reduce” and a consensus target price of $39.60.

Western Midstream Partners Stock Performance

Shares of WES stock opened at $39.27 on Wednesday. The stock has a market cap of $14.97 billion, a PE ratio of 12.08 and a beta of 1.18. The business has a 50-day simple moving average of $38.88 and a 200-day simple moving average of $38.72. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 2.08. Western Midstream Partners, LP has a 52-week low of $33.60 and a 52-week high of $43.33.

Western Midstream Partners (NYSE:WES) last issued its quarterly earnings data on Wednesday, August 6th. The pipeline company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.05. The business had revenue of $942.32 million during the quarter, compared to analysts’ expectations of $954.17 million. Western Midstream Partners had a return on equity of 37.70% and a net margin of 34.45%.The company’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.97 EPS. On average, equities analysts expect that Western Midstream Partners, LP will post 4.02 EPS for the current year.

Western Midstream Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Friday, August 1st were issued a $0.91 dividend. The ex-dividend date of this dividend was Friday, August 1st. This represents a $3.64 dividend on an annualized basis and a yield of 9.3%. Western Midstream Partners’s dividend payout ratio is presently 112.00%.

Western Midstream Partners Profile

Western Midstream Partners, LP, together with its subsidiaries, operates as a midstream energy company primarily in the United States. It is involved in gathering, compressing, treating, processing, and transporting natural gas; gathering, stabilizing, and transporting condensate, natural gas liquids (NGLs), and crude oil; and gathering and disposing produced water.