Western Midstream Partners, LP (NYSE:WES) Sees Significant Increase in Short Interest

Western Midstream Partners, LP (NYSE:WES) was the target of a significant increase in short interest in the month of February. As of February 27th, there was short interest totaling 6,669,889 shares, an increase of 16.6% from the February 12th total of 5,720,726 shares. Currently, 1.7% of the shares of the stock are sold short. Based on an average trading volume of 2,048,186 shares, the short-interest ratio is presently 3.3 days. Based on an average trading volume of 2,048,186 shares, the short-interest ratio is presently 3.3 days. Currently, 1.7% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Several analysts recently commented on WES shares. Royal Bank Of Canada boosted their price target on Western Midstream Partners from $39.00 to $42.00 and gave the stock a “sector perform” rating in a research report on Friday, November 28th. Wells Fargo & Company lifted their target price on shares of Western Midstream Partners from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Friday, March 13th. Stifel Nicolaus dropped 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 report on Friday, February 20th. JPMorgan Chase & Co. reduced their target price 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. Finally, 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. One investment 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. According to data from MarketBeat, Western Midstream Partners currently has a consensus rating of “Hold” and an average target price of $41.71.

Western Midstream Partners Stock Performance

Shares of Western Midstream Partners stock opened at $40.94 on Thursday. The business’s 50 day moving average price is $41.46 and its 200 day moving average price is $39.72. The company has a market cap of $16.11 billion, a price-to-earnings ratio of 13.65 and a beta of 0.76. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.34 and a current ratio of 1.34. Western Midstream Partners has a one year low of $33.60 and a one year high of $44.74.

Western Midstream Partners (NYSE:WES) last issued its earnings results on Wednesday, February 18th. The pipeline company reported $0.47 earnings per share (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 analysts’ expectations of $1.06 billion. During the same quarter in the previous year, the company earned $0.85 earnings per share. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, research analysts predict that Western Midstream Partners will post 4.02 EPS for the current year.

Western Midstream Partners Dividend Announcement

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

Insider Transactions at Western Midstream Partners

In other Western Midstream Partners news, SVP Christopher B. Dial sold 5,879 shares of the firm’s stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $42.35, for a total value of $248,975.65. Following the sale, the senior vice president directly owned 185,011 shares of the company’s stock, valued at approximately $7,835,215.85. This trade 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 is accessible through this hyperlink. Also, Director Robert G. Phillips acquired 1,250 shares of the business’s stock in a transaction dated Wednesday, March 11th. The stock was acquired at an average price of $40.19 per share, with a total value of $50,237.50. Following the completion of the transaction, the director directly owned 5,296 shares of the company’s stock, valued at approximately $212,846.24. This represents a 30.89% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.04% of the company’s stock.

Institutional Trading of Western Midstream Partners

Hedge funds have recently made changes to their positions in the company. Eagle Bay Advisors LLC purchased a new position in shares of Western Midstream Partners during the 4th quarter worth $27,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Western Midstream Partners during the 4th quarter worth about $27,000. Rothschild Investment LLC raised its holdings in 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 buying an additional 343 shares during the period. Garton & Associates Financial Advisors LLC purchased a new stake in Western Midstream Partners in the 4th quarter valued at about $32,000. Finally, Global Wealth Strategies & Associates acquired a new position in Western Midstream Partners in the fourth quarter valued at about $35,000. Hedge funds and other institutional investors own 84.82% of the company’s stock.

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.