Barclays PLC Acquires 92,728 Shares of Western Midstream Partners, LP $WES

Barclays PLC raised its holdings in Western Midstream Partners, LP (NYSE:WES) by 9.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,027,865 shares of the pipeline company’s stock after purchasing an additional 92,728 shares during the period. Barclays PLC owned approximately 0.25% of Western Midstream Partners worth $40,385,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Alps Advisors Inc. boosted its stake in shares of Western Midstream Partners by 0.3% in the third quarter. Alps Advisors Inc. now owns 34,774,726 shares of the pipeline company’s stock valued at $1,366,299,000 after buying an additional 98,819 shares during the period. Miller Howard Investments Inc. NY grew its position in Western Midstream Partners by 0.8% during the third quarter. Miller Howard Investments Inc. NY now owns 1,480,497 shares of the pipeline company’s stock worth $58,169,000 after buying an additional 11,218 shares in the last quarter. Bank of America Corp DE increased its stake in Western Midstream Partners by 9.4% during the 2nd quarter. Bank of America Corp DE now owns 1,426,731 shares of the pipeline company’s stock worth $55,215,000 after acquiring an additional 122,463 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its holdings in Western Midstream Partners by 5.6% in the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,270,900 shares of the pipeline company’s stock valued at $49,934,000 after acquiring an additional 67,000 shares in the last quarter. Finally, BROOKFIELD Corp ON raised its holdings in Western Midstream Partners by 19.1% in the 2nd quarter. BROOKFIELD Corp ON now owns 904,361 shares of the pipeline company’s stock valued at $34,999,000 after acquiring an additional 145,094 shares in the last quarter. Institutional investors and hedge funds own 84.82% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Christopher B. Dial sold 5,879 shares of the company’s stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $42.35, for a total transaction of $248,975.65. Following the completion of the transaction, the senior vice president directly owned 185,011 shares in the company, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.04% of the stock is owned by corporate insiders.

Western Midstream Partners Stock Performance

NYSE:WES opened at $40.13 on Wednesday. Western Midstream Partners, LP has a twelve month low of $33.60 and a twelve month high of $44.74. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.97. The stock’s 50-day simple moving average is $41.30 and its 200 day simple moving average is $39.63. The firm has a market capitalization of $15.80 billion, a PE ratio of 13.38 and a beta of 0.76.

Western Midstream Partners (NYSE:WES) last issued its 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). The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.06 billion. Western Midstream Partners had a return on equity of 33.14% and a net margin of 30.52%.The firm’s 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 EPS. On average, analysts anticipate that Western Midstream Partners, LP will post 4.02 EPS for the current fiscal year.

Western Midstream Partners Announces Dividend

The business 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. The ex-dividend date was Monday, February 2nd. This represents a $3.64 dividend on an annualized basis and a yield of 9.1%. Western Midstream Partners’s dividend payout ratio (DPR) is currently 121.33%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Royal Bank Of Canada increased their target price on Western Midstream Partners from $39.00 to $42.00 and gave the stock a “sector perform” rating in a report on Friday, November 28th. Wells Fargo & Company cut their price objective on shares of Western Midstream Partners from $40.00 to $39.00 and set an “equal weight” rating for the company in a research report on Thursday, January 22nd. Wall Street Zen downgraded shares of Western Midstream Partners from a “buy” rating to a “hold” rating in a research note on Saturday, December 27th. Finally, Stifel Nicolaus decreased their target price on shares of Western Midstream Partners from $43.00 to $42.00 and set a “hold” rating on the stock in a report on Friday, February 20th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $41.17.

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.