Berkley W R Corp Buys 379,807 Shares of Western Midstream Partners, LP $WES

Berkley W R Corp lifted its position in Western Midstream Partners, LP (NYSE:WES) by 42.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,266,970 shares of the pipeline company’s stock after purchasing an additional 379,807 shares during the quarter. Western Midstream Partners comprises about 2.8% of Berkley W R Corp’s holdings, making the stock its 5th biggest holding. Berkley W R Corp owned approximately 0.32% of Western Midstream Partners worth $52,161,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Eagle Bay Advisors LLC purchased a new position in Western Midstream Partners in the fourth quarter worth approximately $27,000. Northwestern Mutual Wealth Management Co. purchased a new stake in Western Midstream Partners in the fourth quarter valued at $27,000. Rothschild Investment LLC lifted its stake in shares of Western Midstream Partners by 76.2% in the 4th quarter. Rothschild Investment LLC now owns 793 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 343 shares during the last quarter. Garton & Associates Financial Advisors LLC acquired a new position in shares of Western Midstream Partners in the 4th quarter valued at $32,000. Finally, Glen Eagle Advisors LLC grew its holdings in shares of Western Midstream Partners by 843.0% during the 4th quarter. Glen Eagle Advisors LLC now owns 943 shares of the pipeline company’s stock worth $37,000 after purchasing an additional 843 shares during the period. 84.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on WES shares. Wall Street Zen raised shares of Western Midstream Partners from a “hold” rating to a “buy” rating in a research report on Sunday, July 12th. Morgan Stanley raised shares of Western Midstream Partners from an “underweight” rating to an “equal weight” rating and set a $51.00 price target on the stock in a research note on Wednesday, June 10th. Mizuho upped their price objective on shares of Western Midstream Partners from $48.00 to $51.00 and gave the stock an “outperform” rating in a report on Tuesday, July 14th. US Capital Advisors raised shares of Western Midstream Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Friday, May 29th. Finally, UBS Group lifted their target price on shares of Western Midstream Partners from $45.00 to $48.00 and gave the company a “neutral” rating in a report on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Western Midstream Partners has a consensus rating of “Hold” and a consensus target price of $46.25.

Western Midstream Partners Stock Up 0.2%

Shares of NYSE:WES opened at $47.59 on Monday. Western Midstream Partners, LP has a fifty-two week low of $36.90 and a fifty-two week high of $48.63. The firm’s 50 day moving average price is $44.67 and its 200 day moving average price is $42.70. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 2.34. The stock has a market cap of $18.74 billion, a price-to-earnings ratio of 15.55, a price-to-earnings-growth ratio of 1.97 and a beta of 0.68.

Western Midstream Partners (NYSE:WES) last announced its quarterly earnings results on Wednesday, May 6th. The pipeline company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.11. Western Midstream Partners had a return on equity of 33.89% and a net margin of 29.98%.The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the business earned $0.79 EPS. Western Midstream Partners’s revenue for the quarter was up 22.5% on a year-over-year basis. As a group, equities research analysts predict that Western Midstream Partners, LP will post 3.49 earnings per share for the current fiscal year.

Western Midstream Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 7.8%. The ex-dividend date of this dividend is Friday, July 31st. Western Midstream Partners’s dividend payout ratio (DPR) is presently 121.57%.

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.