Diversified Trust Co. Takes Position in Western Midstream Partners, LP $WES

Diversified Trust Co. acquired a new position in shares of Western Midstream Partners, LP (NYSE:WES) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 17,828 shares of the pipeline company’s stock, valued at approximately $704,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Global Wealth Strategies & Associates bought a new position in Western Midstream Partners in the 4th quarter worth approximately $35,000. Jones Financial Companies Lllp grew its stake in shares of Western Midstream Partners by 86.1% in the third quarter. Jones Financial Companies Lllp now owns 908 shares of the pipeline company’s stock worth $36,000 after acquiring an additional 420 shares during the last quarter. Fulcrum Asset Management LLP bought a new position in Western Midstream Partners during the third quarter worth $41,000. Mather Group LLC. acquired a new position in Western Midstream Partners during the 3rd quarter valued at $49,000. Finally, Larson Financial Group LLC acquired a new position in Western Midstream Partners during the 3rd quarter valued at $55,000. Institutional investors and hedge funds own 84.82% of the company’s stock.

Insider Buying and Selling at Western Midstream Partners

In other news, Director Robert G. Phillips bought 1,250 shares of the stock in a transaction dated Wednesday, March 11th. The shares were acquired at an average price of $40.19 per share, with a total value of $50,237.50. Following the acquisition, the director owned 5,296 shares in the company, valued at $212,846.24. This trade represents a 30.89% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Christopher B. Dial sold 5,879 shares of the stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $42.35, for a total transaction of $248,975.65. Following the sale, the senior vice president owned 185,011 shares of the company’s stock, valued at $7,835,215.85. This trade represents a 3.08% decrease in their position. The SEC filing for this sale provides additional information. 0.04% of the stock is currently owned by insiders.

Western Midstream Partners Trading Down 2.4%

Shares of WES opened at $41.71 on Friday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.97. The stock has a market cap of $16.42 billion, a PE ratio of 13.90 and a beta of 0.76. Western Midstream Partners, LP has a 1 year low of $33.60 and a 1 year high of $44.74. The stock has a 50 day simple moving average of $41.51 and a 200-day simple moving average of $39.88.

Western Midstream Partners (NYSE:WES) last announced its quarterly earnings results on Wednesday, February 18th. The pipeline company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.44). Western Midstream Partners had a net margin of 30.52% and a return on equity of 33.14%. The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same period in the prior year, the firm earned $0.85 EPS. Western Midstream Partners’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, sell-side analysts predict that Western Midstream Partners, LP will post 4.02 EPS for the current fiscal year.

Western Midstream Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 2nd were paid a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 8.7%. The ex-dividend date was Monday, February 2nd. Western Midstream Partners’s payout ratio is currently 121.33%.

Analysts Set New Price Targets

Several research firms have recently issued reports on WES. Royal Bank Of Canada boosted their price objective on shares of Western Midstream Partners from $39.00 to $42.00 and gave the stock a “sector perform” rating in a report 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. JPMorgan Chase & Co. reduced their price objective on Western Midstream Partners from $44.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, March 12th. Stifel Nicolaus decreased their price objective on Western Midstream Partners from $43.00 to $42.00 and set a “hold” rating on the stock in a report on Friday, February 20th. Finally, Wells Fargo & Company upped their target price on Western Midstream Partners from $39.00 to $41.00 and gave the company an “equal weight” rating in a research note on Friday, March 13th. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Western Midstream Partners presently has a consensus rating of “Hold” and an average price target of $41.71.

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.