Western Midstream Partners, LP $WES Stake Lowered by Chickasaw Capital Management LLC

Chickasaw Capital Management LLC lessened its stake in Western Midstream Partners, LP (NYSE:WES) by 3.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,655,505 shares of the pipeline company’s stock after selling 204,114 shares during the quarter. Western Midstream Partners accounts for 9.2% of Chickasaw Capital Management LLC’s investment portfolio, making the stock its 4th largest position. Chickasaw Capital Management LLC owned approximately 1.39% of Western Midstream Partners worth $223,392,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Global Wealth Strategies & Associates purchased a new stake in Western Midstream Partners during the fourth quarter worth about $35,000. Jones Financial Companies Lllp increased its holdings in Western Midstream Partners by 86.1% in the third quarter. Jones Financial Companies Lllp now owns 908 shares of the pipeline company’s stock valued at $36,000 after buying an additional 420 shares in the last quarter. Fulcrum Asset Management LLP purchased a new position in Western Midstream Partners in the third quarter valued at about $41,000. Allworth Financial LP acquired a new stake in shares of Western Midstream Partners during the 2nd quarter valued at approximately $43,000. Finally, Mather Group LLC. acquired a new stake in shares of Western Midstream Partners during the 3rd quarter valued at approximately $49,000. Institutional investors and hedge funds own 84.82% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on WES. Wells Fargo & Company upped their price target on Western Midstream Partners from $39.00 to $41.00 and gave the stock an “equal weight” rating in a report on Friday, March 13th. JPMorgan Chase & Co. decreased their target price on Western Midstream Partners from $44.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, March 12th. Stifel Nicolaus lowered their target price on Western Midstream Partners from $43.00 to $42.00 and set a “hold” rating on the stock in a report on Friday, February 20th. Royal Bank Of Canada raised their price target on Western Midstream Partners from $39.00 to $42.00 and gave the company a “sector perform” rating in a research report on Friday, November 28th. Finally, Wall Street Zen downgraded Western Midstream Partners from a “buy” rating to a “hold” rating in a research note on Saturday, December 27th. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $41.71.

Insider Buying and Selling at Western Midstream Partners

In related news, Director Robert G. Phillips acquired 1,250 shares of the company’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 transaction, the director owned 5,296 shares in the company, valued at $212,846.24. This trade represents a 30.89% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Christopher B. Dial sold 5,879 shares of the business’s 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 completion of the transaction, the senior vice president directly owned 185,011 shares of the company’s stock, valued at $7,835,215.85. The trade was a 3.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.04% of the stock is owned by corporate insiders.

Western Midstream Partners Trading Up 0.4%

Shares of WES opened at $41.82 on Tuesday. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.34 and a quick ratio of 1.34. The firm has a 50 day simple moving average of $41.49 and a 200-day simple moving average of $39.79. Western Midstream Partners, LP has a 1-year low of $33.60 and a 1-year high of $44.74. The stock has a market cap of $16.46 billion, a price-to-earnings ratio of 13.94 and a beta of 0.76.

Western Midstream Partners (NYSE:WES) last issued its quarterly earnings data 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). The company 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 company’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.85 earnings per share. Equities analysts forecast that Western Midstream Partners, LP will post 4.02 EPS for the current fiscal year.

Western Midstream Partners Announces Dividend

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

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.