Insider Selling: Western Midstream Partners (NYSE:WES) SVP Sells 5,879 Shares of Stock

Western Midstream Partners, LP (NYSE:WES) SVP Christopher Dial sold 5,879 shares of the stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $42.35, for a total value of $248,975.65. Following the completion of the sale, the senior vice president owned 185,011 shares of the company’s stock, valued at approximately $7,835,215.85. This trade represents a 3.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Western Midstream Partners Stock Up 2.6%

NYSE WES traded up $1.11 on Friday, reaching $43.46. The company had a trading volume of 1,333,444 shares, compared to its average volume of 1,235,185. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.43 and a quick ratio of 1.43. Western Midstream Partners, LP has a 1 year low of $33.60 and a 1 year high of $43.65. The firm has a 50-day moving average of $40.36 and a 200-day moving average of $39.27. The firm has a market capitalization of $17.73 billion, a PE ratio of 12.86 and a beta of 0.77.

Western Midstream Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Monday, February 2nd will be paid a dividend of $0.91 per share. The ex-dividend date is Monday, February 2nd. This represents a $3.64 annualized dividend and a dividend yield of 8.4%. Western Midstream Partners’s dividend payout ratio (DPR) is currently 107.69%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on WES shares. Royal Bank Of Canada raised their price objective on Western Midstream Partners from $39.00 to $42.00 and gave the company a “sector perform” rating in a research note on Friday, November 28th. Stifel Nicolaus set a $43.00 price target on shares of Western Midstream Partners in a research report on Thursday, November 6th. Citigroup started coverage on shares of Western Midstream Partners in a report on Monday, October 20th. They issued a “neutral” rating and a $39.00 price target on the stock. Wells Fargo & Company reduced their price objective on shares of Western Midstream Partners from $40.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 22nd. Finally, Wall Street Zen lowered shares of Western Midstream Partners from a “buy” rating to a “hold” rating in a report on Saturday, December 27th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $41.33.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Alps Advisors Inc. grew its position in shares of Western Midstream Partners by 0.9% during the 4th quarter. Alps Advisors Inc. now owns 35,074,357 shares of the pipeline company’s stock valued at $1,385,437,000 after buying an additional 299,631 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Western Midstream Partners by 0.3% during the third quarter. Invesco Ltd. now owns 24,292,437 shares of the pipeline company’s stock valued at $954,450,000 after purchasing an additional 81,183 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Western Midstream Partners by 10.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 9,562,213 shares of the pipeline company’s stock worth $377,707,000 after purchasing an additional 936,376 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Western Midstream Partners in the 3rd quarter worth approximately $300,257,000. Finally, Morgan Stanley boosted its position in Western Midstream Partners by 98.1% during the 4th quarter. Morgan Stanley now owns 5,446,475 shares of the pipeline company’s stock valued at $215,136,000 after purchasing an additional 2,696,439 shares during the period. 84.82% of the stock is currently owned by institutional investors.

Western Midstream Partners Company 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.