Western Midstream Partners, LP $WES Stock Position Raised by Longfellow Investment Management Co. LLC

Longfellow Investment Management Co. LLC grew its stake in shares of Western Midstream Partners, LP (NYSE:WES) by 10.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,089,519 shares of the pipeline company’s stock after acquiring an additional 103,801 shares during the period. Western Midstream Partners accounts for approximately 9.7% of Longfellow Investment Management Co. LLC’s portfolio, making the stock its 3rd largest holding. Longfellow Investment Management Co. LLC’s holdings in Western Midstream Partners were worth $43,036,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in WES. Eagle Bay Advisors LLC purchased a new stake in shares of Western Midstream Partners during the fourth quarter worth $27,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Western Midstream Partners during the fourth quarter worth $27,000. Rothschild Investment LLC lifted its position in shares of Western Midstream Partners by 76.2% during the fourth quarter. Rothschild Investment LLC now owns 793 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 343 shares in the last quarter. Global Wealth Strategies & Associates purchased a new stake in shares of Western Midstream Partners during the fourth quarter worth $35,000. Finally, Jones Financial Companies Lllp lifted its position in shares of Western Midstream Partners by 86.1% during the third quarter. Jones Financial Companies Lllp now owns 908 shares of the pipeline company’s stock worth $36,000 after acquiring an additional 420 shares in the last quarter. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Insiders Place Their Bets

In other news, Director Robert G. Phillips purchased 1,250 shares of the stock in a transaction on Wednesday, March 11th. The shares were acquired at an average price of $40.19 per share, for a total transaction of $50,237.50. Following the completion of the transaction, the director directly owned 5,296 shares of the company’s stock, valued at approximately $212,846.24. This trade represents a 30.89% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 0.04% of the stock is owned by insiders.

Western Midstream Partners Trading Down 1.5%

Shares of WES stock opened at $44.43 on Friday. 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, LP has a 52-week low of $36.90 and a 52-week high of $48.01. The company has a market capitalization of $17.49 billion, a PE ratio of 14.52, a price-to-earnings-growth ratio of 1.87 and a beta of 0.68. The business’s fifty day moving average is $42.87 and its 200 day moving average is $41.39.

Western Midstream Partners (NYSE:WES) last released its quarterly earnings results on Wednesday, May 6th. The pipeline company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.11. Western Midstream Partners had a return on equity of 33.89% and a net margin of 29.98%.The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the business posted $0.79 earnings per share. The company’s revenue for the quarter was up 22.5% on a year-over-year basis. On average, equities research analysts anticipate that Western Midstream Partners, LP will post 3.44 EPS for the current fiscal year.

Western Midstream Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were given a dividend of $0.93 per share. The ex-dividend date was Friday, May 1st. This is a positive change from Western Midstream Partners’s previous quarterly dividend of $0.91. This represents a $3.72 dividend on an annualized basis and a yield of 8.4%. Western Midstream Partners’s dividend payout ratio (DPR) is 121.57%.

Wall Street Analyst Weigh In

Several research firms have issued reports on WES. Stifel Nicolaus set a $46.00 target price on Western Midstream Partners and gave the stock a “buy” rating in a research report on Thursday, May 7th. JPMorgan Chase & Co. dropped their target price on Western Midstream Partners from $44.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, March 12th. Citigroup increased their target price on Western Midstream Partners from $39.00 to $42.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 12th. UBS Group increased their price objective on Western Midstream Partners from $40.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, May 21st. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Western Midstream Partners presently has a consensus rating of “Hold” and an average price target of $44.75.

Western Midstream Partners 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.