Caprock Group LLC Acquires New Position in Western Midstream Partners, LP $WES

Caprock Group LLC bought a new stake in Western Midstream Partners, LP (NYSE:WES) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 29,537 shares of the pipeline company’s stock, valued at approximately $1,158,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Jones Financial Companies Lllp grew its holdings in Western Midstream Partners by 86.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 908 shares of the pipeline company’s stock valued at $36,000 after buying an additional 420 shares during the last quarter. MTM Investment Management LLC acquired a new stake in shares of Western Midstream Partners during the second quarter valued at $39,000. Allworth Financial LP purchased a new stake in Western Midstream Partners during the 2nd quarter worth about $43,000. Mather Group LLC. acquired a new position in Western Midstream Partners in the 3rd quarter valued at about $49,000. Finally, Global Retirement Partners LLC lifted its holdings in Western Midstream Partners by 39.0% in the 3rd quarter. Global Retirement Partners LLC now owns 1,850 shares of the pipeline company’s stock valued at $73,000 after purchasing an additional 519 shares in the last quarter. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on WES. Citigroup assumed coverage on shares of Western Midstream Partners in a research report on Monday, October 20th. They set a “neutral” rating and a $39.00 target price on the stock. Wells Fargo & Company decreased their price objective on Western Midstream Partners from $40.00 to $39.00 and set an “equal weight” rating on the stock in a report on Thursday, January 22nd. Royal Bank Of Canada upped their target price on Western Midstream Partners from $39.00 to $42.00 and gave the company a “sector perform” rating in a research note on Friday, November 28th. Wall Street Zen lowered Western Midstream Partners from a “buy” rating to a “hold” rating in a research note on Saturday, December 27th. Finally, Stifel Nicolaus set a $43.00 price target on Western Midstream Partners in a report on Thursday, November 6th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Western Midstream Partners presently has an average rating of “Hold” and an average target price of $41.33.

Western Midstream Partners Trading Up 2.6%

NYSE:WES opened at $43.46 on Friday. The company has a market capitalization of $17.73 billion, a PE ratio of 12.86 and a beta of 0.77. Western Midstream Partners, LP has a 52-week low of $33.60 and a 52-week high of $43.65. The stock’s 50 day moving average price is $40.43 and its 200 day moving average price is $39.27. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 2.08.

Western Midstream Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Monday, February 2nd were given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 8.4%. The ex-dividend date of this dividend was Monday, February 2nd. Western Midstream Partners’s dividend payout ratio (DPR) is presently 107.69%.

Insider Buying and Selling at Western Midstream Partners

In other news, SVP Christopher B. Dial sold 5,879 shares of the company’s stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $42.35, for a total transaction of $248,975.65. Following the completion of the sale, the senior vice president owned 185,011 shares in the company, valued at $7,835,215.85. This represents a 3.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.04% of the company’s stock.

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.