Ellsworth Advisors LLC Boosts Holdings in Western Midstream Partners, LP $WES

Ellsworth Advisors LLC lifted its position in shares of Western Midstream Partners, LP (NYSE:WES) by 9.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 155,943 shares of the pipeline company’s stock after buying an additional 12,991 shares during the period. Western Midstream Partners makes up approximately 1.3% of Ellsworth Advisors LLC’s portfolio, making the stock its 23rd largest position. Ellsworth Advisors LLC’s holdings in Western Midstream Partners were worth $6,498,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Global Wealth Strategies & Associates purchased a new position in Western Midstream Partners in the fourth quarter worth approximately $35,000. Jones Financial Companies Lllp increased its stake in Western Midstream Partners by 86.1% during 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 purchased a new stake in Western Midstream Partners in the third quarter valued at $41,000. Mather Group LLC. purchased a new stake in Western Midstream Partners in the third quarter valued at $49,000. Finally, Larson Financial Group LLC acquired a new position in shares of Western Midstream Partners in the 3rd quarter valued at $55,000. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Western Midstream Partners Stock Down 1.1%

NYSE:WES opened at $40.72 on Thursday. Western Midstream Partners, LP has a 52 week low of $33.60 and a 52 week high of $44.74. The stock’s fifty day moving average is $41.53 and its two-hundred day moving average is $39.95. The stock has a market capitalization of $16.03 billion, a price-to-earnings ratio of 13.57 and a beta of 0.76. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.97.

Western Midstream Partners (NYSE:WES) last issued its quarterly earnings data on Wednesday, February 18th. The pipeline company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.44). The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.06 billion. Western Midstream Partners had a net margin of 30.52% and a return on equity of 33.14%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.85 earnings per share. Research analysts anticipate that Western Midstream Partners, LP will post 4.02 EPS for the current year.

Western Midstream Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Monday, February 2nd were given a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 8.9%. The ex-dividend date of this dividend was Monday, February 2nd. Western Midstream Partners’s payout ratio is currently 121.33%.

Insider Transactions at Western Midstream Partners

In other news, SVP Christopher B. Dial sold 5,879 shares of the stock in a transaction dated Thursday, February 12th. The shares were 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 approximately $7,835,215.85. This represents a 3.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert G. Phillips acquired 1,250 shares of the stock in a transaction dated Wednesday, March 11th. The stock was acquired at an average cost of $40.19 per share, with a total value of $50,237.50. Following the purchase, the director owned 5,296 shares of the company’s stock, valued at approximately $212,846.24. This trade represents a 30.89% increase in their position. The SEC filing for this purchase provides additional information. 0.04% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on WES shares. Wall Street Zen cut Western Midstream Partners from a “buy” rating to a “hold” rating in a report on Saturday, December 27th. Wells Fargo & Company upped their target price on shares of Western Midstream Partners from $39.00 to $41.00 and gave the company an “equal weight” rating in a research report on Friday, March 13th. Stifel Nicolaus lowered their target price on shares of 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. Finally, JPMorgan Chase & Co. dropped their price target on shares of 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. One analyst has rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $41.71.

Western Midstream Partners 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.