Castleark Management LLC Sells 15,010 Shares of Western Midstream Partners, LP $WES

Castleark Management LLC trimmed its stake in shares of Western Midstream Partners, LP (NYSE:WES) by 17.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 70,260 shares of the pipeline company’s stock after selling 15,010 shares during the period. Castleark Management LLC’s holdings in Western Midstream Partners were worth $2,719,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of WES. Kingstone Capital Partners Texas LLC purchased a new stake in Western Midstream Partners during the second quarter valued at $156,967,000. Northern Trust Corp lifted its stake in Western Midstream Partners by 2,725.4% in the first quarter. Northern Trust Corp now owns 367,330 shares of the pipeline company’s stock worth $15,046,000 after purchasing an additional 354,329 shares during the last quarter. Militia Capital Partners LP grew its stake in shares of Western Midstream Partners by 6,733.3% during the second quarter. Militia Capital Partners LP now owns 205,000 shares of the pipeline company’s stock valued at $7,934,000 after buying an additional 202,000 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Western Midstream Partners by 2.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,428,847 shares of the pipeline company’s stock worth $304,286,000 after buying an additional 155,661 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Western Midstream Partners by 1.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,658,988 shares of the pipeline company’s stock worth $354,672,000 after acquiring an additional 149,833 shares during the last quarter. 84.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on WES shares. Wells Fargo & Company raised their price target on shares of Western Midstream Partners from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 13th. Royal Bank Of Canada lifted their price objective on Western Midstream Partners from $39.00 to $42.00 and gave the company a “sector perform” rating in a report on Friday, November 28th. Stifel Nicolaus set a $43.00 target price on shares of Western Midstream Partners in a report on Thursday, November 6th. Citigroup initiated coverage on shares of Western Midstream Partners in a research note on Monday, October 20th. They issued a “neutral” rating and a $39.00 price objective for the company. Finally, Wall Street Zen upgraded Western Midstream Partners from a “hold” rating to a “buy” rating in a report on Sunday. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $41.50.

Western Midstream Partners Stock Up 2.1%

Western Midstream Partners stock opened at $39.45 on Monday. Western Midstream Partners, LP has a fifty-two week low of $33.60 and a fifty-two week high of $43.33. The business’s 50-day simple moving average is $38.63 and its two-hundred day simple moving average is $38.74. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.43 and a current ratio of 1.43. The company has a market cap of $16.09 billion, a PE ratio of 11.67 and a beta of 0.76.

Western Midstream Partners (NYSE:WES) last announced its quarterly earnings data on Tuesday, November 4th. The pipeline company reported $0.87 EPS for the quarter, meeting the consensus estimate of $0.87. The business had revenue of $952.48 million during the quarter, compared to analysts’ expectations of $965.55 million. Western Midstream Partners had a net margin of 35.18% and a return on equity of 39.37%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.74 EPS. Equities analysts anticipate that Western Midstream Partners, LP will post 4.02 EPS for the current year.

Western Midstream Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, October 31st were paid a dividend of $0.91 per share. The ex-dividend date was Friday, October 31st. This represents a $3.64 dividend on an annualized basis and a dividend yield of 9.2%. Western Midstream Partners’s dividend payout ratio (DPR) is presently 107.69%.

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.