Pacer Advisors Inc. Reduces Position in Western Midstream Partners, LP $WES

Pacer Advisors Inc. trimmed its position in Western Midstream Partners, LP (NYSE:WES) by 21.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,874 shares of the pipeline company’s stock after selling 11,595 shares during the period. Pacer Advisors Inc.’s holdings in Western Midstream Partners were worth $1,765,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WES. Whittier Trust Co. of Nevada Inc. lifted its position in Western Midstream Partners by 0.9% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 30,784 shares of the pipeline company’s stock worth $1,218,000 after acquiring an additional 284 shares during the period. Captrust Financial Advisors increased its holdings in shares of Western Midstream Partners by 0.6% in the fourth quarter. Captrust Financial Advisors now owns 45,995 shares of the pipeline company’s stock valued at $1,817,000 after purchasing an additional 287 shares during the period. M&T Bank Corp raised its stake in shares of Western Midstream Partners by 3.5% in the fourth quarter. M&T Bank Corp now owns 8,540 shares of the pipeline company’s stock worth $337,000 after purchasing an additional 288 shares during the last quarter. Mutual Advisors LLC raised its stake in shares of Western Midstream Partners by 1.9% in the fourth quarter. Mutual Advisors LLC now owns 15,453 shares of the pipeline company’s stock worth $610,000 after purchasing an additional 292 shares during the last quarter. Finally, Pasadena Private Wealth LLC lifted its holdings in shares of Western Midstream Partners by 5.2% during the first quarter. Pasadena Private Wealth LLC now owns 6,110 shares of the pipeline company’s stock worth $252,000 after purchasing an additional 300 shares during the period. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Western Midstream Partners Stock Down 0.6%

WES opened at $46.68 on Friday. The company has a fifty day moving average of $44.95 and a two-hundred day moving average of $43.09. The stock has a market capitalization of $19.29 billion, a price-to-earnings ratio of 14.68, a PEG ratio of 1.93 and a beta of 0.68. Western Midstream Partners, LP has a fifty-two week low of $36.90 and a fifty-two week high of $48.63. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.09 and a current ratio of 1.09.

Western Midstream Partners (NYSE:WES) last posted its earnings results on Wednesday, August 5th. The pipeline company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.08. Western Midstream Partners had a net margin of 29.44% and a return on equity of 34.79%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period in the prior year, the company posted $0.87 EPS. The company’s revenue for the quarter was up 30.0% on a year-over-year basis. On average, research analysts expect that Western Midstream Partners, LP will post 3.52 earnings per share for the current year.

Western Midstream Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be issued a $0.93 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a $3.72 dividend on an annualized basis and a yield of 8.0%. Western Midstream Partners’s dividend payout ratio is presently 116.98%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on WES shares. Wall Street Zen lowered Western Midstream Partners from a “buy” rating to a “hold” rating in a research report on Saturday. Stifel Nicolaus set a $46.00 price target on shares of Western Midstream Partners and gave the stock a “buy” rating in a research report on Thursday, May 7th. Citigroup lifted their price objective on shares of Western Midstream Partners from $39.00 to $42.00 and gave the company a “neutral” rating in a research note on Tuesday, May 12th. UBS Group upped their price objective on shares of Western Midstream Partners from $45.00 to $48.00 and gave the company a “neutral” rating in a report on Friday, July 10th. Finally, Mizuho increased their price objective on shares of Western Midstream Partners from $48.00 to $51.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $46.25.

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.