Adams Asset Advisors LLC Has $13.51 Million Holdings in Western Midstream Partners, LP $WES

Adams Asset Advisors LLC increased its holdings in shares of Western Midstream Partners, LP (NYSE:WES) by 4.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 342,105 shares of the pipeline company’s stock after acquiring an additional 15,000 shares during the period. Western Midstream Partners comprises approximately 1.8% of Adams Asset Advisors LLC’s holdings, making the stock its 16th largest holding. Adams Asset Advisors LLC owned approximately 0.08% of Western Midstream Partners worth $13,513,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WES. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Western Midstream Partners during the 3rd quarter worth about $300,257,000. Texas Yale Capital Corp. increased its position in Western Midstream Partners by 6.8% in the 3rd quarter. Texas Yale Capital Corp. now owns 575,809 shares of the pipeline company’s stock valued at $22,624,000 after acquiring an additional 36,438 shares in the last quarter. Advisors Asset Management Inc. increased its position in Western Midstream Partners by 18.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 186,853 shares of the pipeline company’s stock valued at $7,341,000 after acquiring an additional 29,754 shares in the last quarter. Caprock Group LLC bought a new position in shares of Western Midstream Partners in the third quarter worth about $1,158,000. Finally, Barclays PLC raised its stake in shares of Western Midstream Partners by 9.9% in the third quarter. Barclays PLC now owns 1,027,865 shares of the pipeline company’s stock worth $40,385,000 after acquiring an additional 92,728 shares during the last quarter. 84.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on WES shares. Wall Street Zen cut shares of Western Midstream Partners from a “buy” rating to a “hold” rating in a research report on Saturday, December 27th. Stifel Nicolaus lowered their target price on Western Midstream Partners from $43.00 to $42.00 and set a “hold” rating for the company in a research note on Friday, February 20th. JPMorgan Chase & Co. cut their price target on Western Midstream Partners from $44.00 to $43.00 and set a “neutral” rating on the stock in a research note on Thursday, March 12th. Finally, Wells Fargo & Company raised their price target on Western Midstream Partners from $39.00 to $41.00 and gave the company an “equal weight” rating in a report on Friday, March 13th. One analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $41.71.

Western Midstream Partners Trading Down 0.2%

Shares of NYSE WES opened at $41.71 on Monday. The company’s 50 day simple moving average is $41.51 and its 200 day simple moving average is $39.90. Western Midstream Partners, LP has a fifty-two week low of $33.60 and a fifty-two week high of $44.74. The firm has a market capitalization of $16.42 billion, a P/E ratio of 13.90 and a beta of 0.76. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.34 and a quick ratio of 1.34.

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

Western Midstream Partners Dividend Announcement

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

Insider Transactions at Western Midstream Partners

In other news, SVP Christopher B. Dial sold 5,879 shares of the company’s stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $42.35, for a total value of $248,975.65. Following the completion of the sale, the senior vice president directly owned 185,011 shares of the company’s stock, valued at $7,835,215.85. This represents a 3.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robert G. Phillips purchased 1,250 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The stock was purchased at an average price of $40.19 per share, for a total transaction of $50,237.50. Following the completion of the transaction, the director directly 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. Additional details regarding this purchase are available in the official SEC disclosure. 0.04% of the stock is currently owned by company insiders.

Western Midstream Partners Company Profile

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.