Cvfg LLC Takes $895,000 Position in Western Midstream Partners, LP $WES

Cvfg LLC bought a new position in shares of Western Midstream Partners, LP (NYSE:WES) during the first quarter, Holdings Channel.com reports. The fund bought 21,730 shares of the pipeline company’s stock, valued at approximately $895,000.

A number of other large investors also recently modified their holdings of WES. Eagle Bay Advisors LLC bought a new stake in Western Midstream Partners during the 4th quarter valued at $27,000. Northwestern Mutual Wealth Management Co. bought a new stake in Western Midstream Partners during the 4th quarter worth approximately $27,000. Rothschild Investment LLC increased its holdings in Western Midstream Partners by 76.2% during the 4th quarter. Rothschild Investment LLC now owns 793 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 343 shares in the last quarter. Garton & Associates Financial Advisors LLC bought a new stake in Western Midstream Partners during the 4th quarter worth approximately $32,000. Finally, Global Wealth Strategies & Associates purchased a new stake in shares of Western Midstream Partners in the fourth quarter worth approximately $35,000. 84.82% of the stock is currently owned by institutional investors.

Western Midstream Partners Price Performance

WES opened at $45.27 on Thursday. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a market cap of $17.83 billion, a P/E ratio of 14.80, a PEG ratio of 1.89 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 $48.01. The firm has a 50-day moving average of $44.06 and a 200 day moving average of $42.13.

Western Midstream Partners (NYSE:WES) last released its 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 net margin of 29.98% and a return on equity of 33.89%. The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the firm earned $0.79 EPS. The company’s revenue was up 22.5% compared to the same quarter last year. On average, research analysts expect that Western Midstream Partners, LP will post 3.44 EPS for the current year.

Western Midstream Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were paid a $0.93 dividend. 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 annualized dividend and a yield of 8.2%. Western Midstream Partners’s dividend payout ratio (DPR) is currently 121.57%.

Wall Street Analyst Weigh In

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, July 4th. Wells Fargo & Company upped their target price on shares of Western Midstream Partners from $41.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 13th. Citigroup increased their target price on shares of Western Midstream Partners from $39.00 to $42.00 and gave the company a “neutral” rating in a report on Tuesday, May 12th. Stifel Nicolaus set a $46.00 price target on shares of Western Midstream Partners and gave the company a “buy” rating in a research report on Thursday, May 7th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Western Midstream Partners from $44.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday, March 12th. One 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 company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $45.00.

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.