Wealth Alliance Increases Position in Western Midstream Partners, LP (NYSE:WES)

Wealth Alliance increased its position in shares of Western Midstream Partners, LP (NYSE:WES) by 3.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,848 shares of the pipeline company’s stock after purchasing an additional 458 shares during the period. Wealth Alliance’s holdings in Western Midstream Partners were worth $376,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Alps Advisors Inc. boosted its stake in Western Midstream Partners by 13.0% in the 3rd quarter. Alps Advisors Inc. now owns 33,519,544 shares of the pipeline company’s stock worth $912,737,000 after purchasing an additional 3,855,558 shares during the period. Invesco Ltd. grew its stake in Western Midstream Partners by 13.8% during the third quarter. Invesco Ltd. now owns 20,746,835 shares of the pipeline company’s stock valued at $564,936,000 after acquiring an additional 2,520,712 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Western Midstream Partners by 6.4% in the 2nd quarter. Goldman Sachs Group Inc. now owns 8,345,798 shares of the pipeline company’s stock valued at $202,887,000 after acquiring an additional 500,806 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Western Midstream Partners by 14.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,280,595 shares of the pipeline company’s stock worth $183,770,000 after purchasing an additional 802,709 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in shares of Western Midstream Partners by 14.2% during the 1st quarter. Clearbridge Investments LLC now owns 5,012,565 shares of the pipeline company’s stock valued at $126,417,000 after purchasing an additional 623,000 shares during the last quarter. Hedge funds and other institutional investors own 42.94% of the company’s stock.

Insider Buying and Selling at Western Midstream Partners

In other Western Midstream Partners news, Director Lisa A. Stewart bought 2,500 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was acquired at an average cost of $34.87 per share, for a total transaction of $87,175.00. Following the completion of the transaction, the director now owns 30,730 shares in the company, valued at $1,071,555.10. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Kenneth F. Owen purchased 7,000 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was purchased at an average price of $33.96 per share, for a total transaction of $237,720.00. Following the completion of the acquisition, the director now owns 32,730 shares of the company’s stock, valued at $1,111,510.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lisa A. Stewart acquired 2,500 shares of Western Midstream Partners stock in a transaction on Wednesday, March 6th. The shares were purchased at an average price of $34.87 per share, for a total transaction of $87,175.00. Following the completion of the acquisition, the director now directly owns 30,730 shares in the company, valued at $1,071,555.10. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by corporate insiders.

Western Midstream Partners Trading Up 0.6 %

WES stock opened at $34.65 on Friday. Western Midstream Partners, LP has a twelve month low of $24.89 and a twelve month high of $36.79. The stock has a market capitalization of $13.18 billion, a price-to-earnings ratio of 13.33 and a beta of 2.83. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 2.40. The firm’s fifty day simple moving average is $33.63 and its two-hundred day simple moving average is $30.04.

Western Midstream Partners (NYSE:WES) last issued its quarterly earnings results on Wednesday, February 21st. The pipeline company reported $0.74 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.04). Western Midstream Partners had a net margin of 32.72% and a return on equity of 33.58%. The firm had revenue of $858.21 million for the quarter, compared to the consensus estimate of $850.23 million. During the same quarter in the previous year, the company posted $0.85 earnings per share. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. As a group, analysts anticipate that Western Midstream Partners, LP will post 3.45 earnings per share for the current year.

Western Midstream Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 13th. Investors of record on Thursday, February 1st were issued a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a yield of 6.64%. The ex-dividend date was Wednesday, January 31st. Western Midstream Partners’s payout ratio is currently 88.46%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on WES shares. Raymond James reaffirmed a “market perform” rating on shares of Western Midstream Partners in a report on Tuesday, March 19th. Stifel Nicolaus lifted their price objective on Western Midstream Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Wolfe Research upgraded Western Midstream Partners from an “underperform” rating to a “peer perform” rating in a research report on Thursday. Finally, Citigroup cut shares of Western Midstream Partners from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $30.00 to $34.00 in a research report on Thursday, February 29th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Western Midstream Partners currently has a consensus rating of “Hold” and an average target price of $30.64.

Western Midstream Partners Company Profile

Western Midstream Partners, LP, together with its subsidiaries, operates as a midstream energy company primarily in the United States. It is involved in gathering, compressing, treating, processing, and transporting natural gas; gathering, stabilizing, and transporting condensate, natural gas liquids (NGLs), and crude oil; and gathering and disposing produced water.