Wealth Enhancement Advisory Services LLC Decreases Stake in Western Midstream Partners, LP $WES

Wealth Enhancement Advisory Services LLC cut its holdings in shares of Western Midstream Partners, LP (NYSE:WES) by 2.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 51,068 shares of the pipeline company’s stock after selling 1,382 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Western Midstream Partners were worth $1,989,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Princeton Global Asset Management LLC raised its position in Western Midstream Partners by 133.3% during the 1st quarter. Princeton Global Asset Management LLC now owns 700 shares of the pipeline company’s stock worth $29,000 after buying an additional 400 shares during the last quarter. Financial Network Wealth Advisors LLC raised its position in Western Midstream Partners by 1,856.4% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 763 shares of the pipeline company’s stock worth $31,000 after buying an additional 724 shares during the last quarter. Bessemer Group Inc. purchased a new position in Western Midstream Partners during the 1st quarter worth approximately $41,000. Creative Financial Designs Inc. ADV purchased a new position in Western Midstream Partners during the 1st quarter worth approximately $72,000. Finally, Militia Capital Partners LP purchased a new position in Western Midstream Partners during the 1st quarter worth approximately $123,000. 84.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WES has been the subject of a number of recent research reports. Mizuho raised their price target on shares of Western Midstream Partners from $44.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, August 29th. Morgan Stanley reduced their price target on shares of Western Midstream Partners from $41.00 to $39.00 and set an “underweight” rating for the company in a research report on Tuesday, August 26th. Finally, Royal Bank Of Canada raised their price target on shares of Western Midstream Partners from $38.00 to $39.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 26th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Western Midstream Partners currently has an average rating of “Reduce” and an average target price of $39.60.

Western Midstream Partners Price Performance

Western Midstream Partners stock opened at $39.45 on Monday. The company’s fifty day moving average price is $38.90 and its 200 day moving average price is $38.74. Western Midstream Partners, LP has a 1 year low of $33.60 and a 1 year high of $43.33. The stock has a market capitalization of $15.04 billion, a P/E ratio of 12.14 and a beta of 1.18. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.30 and a current ratio of 1.30.

Western Midstream Partners (NYSE:WES) last released its quarterly earnings results on Wednesday, August 6th. The pipeline company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.05. Western Midstream Partners had a net margin of 34.45% and a return on equity of 37.70%. The firm had revenue of $942.32 million for the quarter, compared to analysts’ expectations of $954.17 million. During the same quarter last year, the company earned $0.97 EPS. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Western Midstream Partners, LP will post 4.02 earnings per share for the current fiscal year.

Western Midstream Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Friday, August 1st were paid a $0.91 dividend. The ex-dividend date of this dividend was Friday, August 1st. This represents a $3.64 dividend on an annualized basis and a yield of 9.2%. Western Midstream Partners’s dividend payout ratio (DPR) is currently 112.00%.

Western Midstream Partners Company 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.