Independent Advisor Alliance Increases Holdings in Western Midstream Partners, LP (NYSE:WES)

Independent Advisor Alliance lifted its position in Western Midstream Partners, LP (NYSE:WES) by 3.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 22,647 shares of the pipeline company’s stock after purchasing an additional 800 shares during the period. Independent Advisor Alliance’s holdings in Western Midstream Partners were worth $866,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Chickasaw Capital Management LLC boosted its holdings in shares of Western Midstream Partners by 0.6% in the second quarter. Chickasaw Capital Management LLC now owns 6,711,006 shares of the pipeline company’s stock valued at $266,628,000 after purchasing an additional 37,259 shares during the period. Kayne Anderson Capital Advisors LP lifted its holdings in Western Midstream Partners by 23.5% during the third quarter. Kayne Anderson Capital Advisors LP now owns 6,228,448 shares of the pipeline company’s stock worth $238,300,000 after buying an additional 1,184,597 shares during the period. Fractal Investments LLC lifted its holdings in Western Midstream Partners by 5.4% during the third quarter. Fractal Investments LLC now owns 1,465,706 shares of the pipeline company’s stock worth $56,078,000 after buying an additional 75,145 shares during the period. Miller Howard Investments Inc. NY lifted its holdings in Western Midstream Partners by 2.8% during the second quarter. Miller Howard Investments Inc. NY now owns 1,458,530 shares of the pipeline company’s stock worth $57,947,000 after buying an additional 39,827 shares during the period. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its holdings in Western Midstream Partners by 10.1% during the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,315,472 shares of the pipeline company’s stock worth $50,330,000 after buying an additional 120,202 shares during the period. Hedge funds and other institutional investors own 42.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on WES shares. Stifel Nicolaus upped their target price on Western Midstream Partners from $39.00 to $40.00 and gave the stock a “hold” rating in a report on Friday, August 9th. UBS Group reduced their price target on Western Midstream Partners from $40.00 to $37.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. StockNews.com downgraded Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 28th. Royal Bank of Canada upped their price target on Western Midstream Partners from $38.00 to $41.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 16th. Finally, Morgan Stanley downgraded Western Midstream Partners from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $42.00 to $40.00 in a research report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $37.88.

Western Midstream Partners Trading Up 2.3 %

WES stock opened at $39.65 on Thursday. The company’s 50-day simple moving average is $38.27 and its 200-day simple moving average is $38.72. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.05. Western Midstream Partners, LP has a 52-week low of $26.81 and a 52-week high of $42.80. The firm has a market cap of $15.09 billion, a P/E ratio of 10.11, a PEG ratio of 1.03 and a beta of 2.88.

Western Midstream Partners (NYSE:WES) last posted its earnings results on Wednesday, November 6th. The pipeline company reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.09). Western Midstream Partners had a return on equity of 46.02% and a net margin of 42.99%. The firm had revenue of $883.36 million for the quarter, compared to analysts’ expectations of $924.83 million. During the same period in the previous year, the company earned $0.70 earnings per share. The company’s revenue was up 13.8% compared to the same quarter last year. As a group, equities analysts forecast that Western Midstream Partners, LP will post 4.09 EPS for the current fiscal year.

Western Midstream Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were paid a $0.875 dividend. This represents a $3.50 dividend on an annualized basis and a yield of 8.83%. The ex-dividend date was Friday, November 1st. Western Midstream Partners’s dividend payout ratio is presently 89.29%.

Western Midstream Partners Profile

Western Midstream Partners, LP, together with its subsidiaries, operates as a midstream energy company primarily in the United States. It is involved in gathering, compressing, treating, processing, and transporting natural gas; gathering, stabilizing, and transporting condensate, natural gas liquids (NGLs), and crude oil; and gathering and disposing produced water.