Infrastructure Capital Advisors LLC Has $45.73 Million Position in Western Midstream Partners, LP $WES

Infrastructure Capital Advisors LLC boosted its holdings in shares of Western Midstream Partners, LP (NYSE:WES) by 10.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,157,677 shares of the pipeline company’s stock after buying an additional 111,961 shares during the quarter. Western Midstream Partners makes up about 4.4% of Infrastructure Capital Advisors LLC’s investment portfolio, making the stock its 8th largest holding. Infrastructure Capital Advisors LLC owned approximately 0.28% of Western Midstream Partners worth $45,728,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in WES. Geode Capital Management LLC grew its position in Western Midstream Partners by 6.4% during the second quarter. Geode Capital Management LLC now owns 8,525 shares of the pipeline company’s stock valued at $330,000 after buying an additional 512 shares during the period. Creative Planning grew its position in Western Midstream Partners by 17.0% during the second quarter. Creative Planning now owns 6,878 shares of the pipeline company’s stock valued at $266,000 after buying an additional 999 shares during the period. Guggenheim Capital LLC grew its position in Western Midstream Partners by 6.0% during the second quarter. Guggenheim Capital LLC now owns 23,029 shares of the pipeline company’s stock valued at $891,000 after buying an additional 1,298 shares during the period. Cerity Partners LLC grew its position in Western Midstream Partners by 39.1% during the second quarter. Cerity Partners LLC now owns 25,003 shares of the pipeline company’s stock valued at $968,000 after buying an additional 7,032 shares during the period. Finally, NewEdge Advisors LLC bought a new stake in Western Midstream Partners during the second quarter valued at approximately $2,172,000. 84.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on WES. Wall Street Zen upgraded shares of Western Midstream Partners from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Citigroup boosted their target price on shares of Western Midstream Partners from $39.00 to $42.00 and gave the company a “neutral” rating in a research report on Tuesday, May 12th. US Capital Advisors upgraded shares of Western Midstream Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Friday, May 29th. JPMorgan Chase & Co. lowered their price target on shares of Western Midstream Partners from $44.00 to $43.00 and set a “neutral” rating on the stock in a report on Thursday, March 12th. Finally, Mizuho initiated coverage on shares of Western Midstream Partners in a report on Wednesday. They set an “outperform” rating and a $48.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $45.00.

Western Midstream Partners Price Performance

Shares of NYSE:WES opened at $43.50 on Thursday. Western Midstream Partners, LP has a 1-year low of $36.90 and a 1-year high of $48.01. The firm’s 50 day simple moving average is $43.28 and its two-hundred day simple moving average is $41.69. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.09 and a quick ratio of 1.09. The company has a market capitalization of $17.13 billion, a P/E ratio of 14.22, a P/E/G ratio of 1.84 and a beta of 0.68.

Western Midstream Partners (NYSE:WES) last released its earnings results on Wednesday, May 6th. The pipeline company reported $0.85 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the previous year, the firm earned $0.79 earnings per share. The company’s quarterly revenue was up 22.5% compared to the same quarter last year. Research analysts expect that Western Midstream Partners, LP will post 3.44 EPS for the current fiscal year.

Western Midstream Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were issued a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 8.6%. This is a boost from Western Midstream Partners’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend was Friday, May 1st. Western Midstream Partners’s payout ratio is presently 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.