Exchange Traded Concepts LLC Has $10.93 Million Stock Position in Western Midstream Partners, LP $WES

Exchange Traded Concepts LLC lifted its position in Western Midstream Partners, LP (NYSE:WES) by 28.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 276,673 shares of the pipeline company’s stock after buying an additional 61,856 shares during the quarter. Exchange Traded Concepts LLC owned about 0.07% of Western Midstream Partners worth $10,929,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Global Wealth Strategies & Associates acquired a new position in Western Midstream Partners during the 4th quarter worth $35,000. Jones Financial Companies Lllp grew its position in shares of 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 purchasing an additional 420 shares during the last quarter. Fulcrum Asset Management LLP acquired a new stake in shares of Western Midstream Partners in the third quarter valued at about $41,000. Mather Group LLC. bought a new position in shares of Western Midstream Partners in the third quarter worth about $49,000. Finally, Larson Financial Group LLC bought a new position in shares of Western Midstream Partners in the third quarter worth about $55,000. 84.82% of the stock is currently owned by institutional investors and hedge funds.

Western Midstream Partners Trading Down 0.2%

Western Midstream Partners stock opened at $41.71 on Monday. The business has a 50 day moving average price of $41.51 and a two-hundred day moving average price of $39.90. 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, LP has a 12 month low of $33.60 and a 12 month high of $44.74. The stock has a market cap of $16.42 billion, a price-to-earnings ratio of 13.90 and a beta of 0.76.

Western Midstream Partners (NYSE:WES) last announced its quarterly earnings data on Wednesday, February 18th. The pipeline company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.44). The firm 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%.Western Midstream Partners’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.85 EPS. As a group, equities analysts forecast that Western Midstream Partners, LP will post 4.02 EPS for the current year.

Western Midstream Partners Dividend Announcement

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

Analysts Set New Price Targets

Several analysts recently weighed in on WES shares. Stifel Nicolaus decreased their target price on 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. Wells Fargo & Company lifted their price target on Western Midstream Partners from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Friday, March 13th. Wall Street Zen cut Western Midstream Partners from a “buy” rating to a “hold” rating in a research report on Saturday, December 27th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Western Midstream Partners from $44.00 to $43.00 and set a “neutral” rating on the stock in a research note on Thursday, March 12th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Western Midstream Partners has an average rating of “Hold” and a consensus price target of $41.71.

Insider Buying and Selling at Western Midstream Partners

In other Western Midstream Partners news, Director Robert G. Phillips bought 1,250 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The shares were acquired at an average cost 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 approximately $212,846.24. The trade was a 30.89% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Christopher B. Dial sold 5,879 shares of the company’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 sale, the senior vice president directly owned 185,011 shares in the company, valued at approximately $7,835,215.85. The trade was a 3.08% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.04% of the company’s stock.

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.