Western Midstream Partners, LP $WES Shares Sold by Recurrent Investment Advisors LLC

Recurrent Investment Advisors LLC lowered its stake in shares of Western Midstream Partners, LP (NYSE:WES) by 15.2% in the first quarter, Holdings Channel reports. The firm owned 1,134,758 shares of the pipeline company’s stock after selling 203,896 shares during the period. Western Midstream Partners accounts for about 2.8% of Recurrent Investment Advisors LLC’s investment portfolio, making the stock its 17th largest position. Recurrent Investment Advisors LLC’s holdings in Western Midstream Partners were worth $46,718,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Alps Advisors Inc. lifted its stake in Western Midstream Partners by 0.9% in 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 in the last quarter. Invesco Ltd. increased its stake in Western Midstream Partners by 0.3% during the 3rd quarter. Invesco Ltd. now owns 24,292,437 shares of the pipeline company’s stock worth $954,450,000 after buying an additional 81,183 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in 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 buying an additional 936,376 shares in the last quarter. Tortoise Capital Advisors L.L.C. raised its holdings in shares of Western Midstream Partners by 15.8% during the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 8,539,175 shares of the pipeline company’s stock valued at $337,297,000 after acquiring an additional 1,163,991 shares during the last quarter. Finally, Morgan Stanley raised its holdings in shares of Western Midstream Partners by 98.1% during the fourth quarter. Morgan Stanley now owns 5,446,475 shares of the pipeline company’s stock valued at $215,136,000 after acquiring an additional 2,696,439 shares during the last quarter. Institutional investors and hedge funds own 84.82% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in 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. Wall Street Zen upgraded Western Midstream Partners from a “hold” rating to a “buy” rating in a research report on Sunday, July 12th. JPMorgan Chase & Co. increased their price objective on Western Midstream Partners from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. UBS Group raised their price objective on Western Midstream Partners from $45.00 to $48.00 and gave the company a “neutral” rating in a report on Friday, July 10th. Finally, Stifel Nicolaus set a $46.00 target price on shares of Western Midstream Partners and gave the stock a “buy” rating in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Western Midstream Partners currently has an average rating of “Hold” and an average target price of $46.25.

Western Midstream Partners Stock Up 1.0%

Shares of NYSE WES opened at $47.20 on Wednesday. Western Midstream Partners, LP has a 12-month low of $36.90 and a 12-month high of $48.63. The stock has a market cap of $18.59 billion, a PE ratio of 15.42, a P/E/G ratio of 1.94 and a beta of 0.68. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.34. The company has a 50-day moving average of $44.66 and a 200 day moving average of $42.80.

Western Midstream Partners (NYSE:WES) last released its quarterly earnings data on Wednesday, May 6th. The pipeline company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.11. Western Midstream Partners had a net margin of 29.98% and a return on equity of 33.89%. The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the firm earned $0.79 EPS. Western Midstream Partners’s quarterly revenue was up 22.5% on a year-over-year basis. As a group, sell-side analysts predict that Western Midstream Partners, LP will post 3.49 EPS for the current fiscal year.

Western Midstream Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be given a $0.93 dividend. The ex-dividend date is Friday, July 31st. This represents a $3.72 dividend on an annualized basis and a dividend yield of 7.9%. Western Midstream Partners’s dividend payout ratio is 121.57%.

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.