2,242 Shares in Western Midstream Partners, LP (NYSE:WES) Acquired by Millburn Ridgefield Corp

Millburn Ridgefield Corp purchased a new stake in Western Midstream Partners, LP (NYSE:WES) in the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 2,242 shares of the pipeline company’s stock, valued at approximately $86,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Comerica Bank raised its stake in Western Midstream Partners by 16.0% during the 1st quarter. Comerica Bank now owns 11,429 shares of the pipeline company’s stock worth $406,000 after acquiring an additional 1,580 shares in the last quarter. Simplicity Wealth LLC acquired a new position in shares of Western Midstream Partners during the second quarter worth about $215,000. Alpha Cubed Investments LLC increased its stake in shares of Western Midstream Partners by 27.2% during the second quarter. Alpha Cubed Investments LLC now owns 9,830 shares of the pipeline company’s stock worth $391,000 after acquiring an additional 2,105 shares during the period. Sequoia Financial Advisors LLC acquired a new position in shares of Western Midstream Partners during the second quarter worth about $219,000. Finally, Albert D Mason Inc. increased its stake in shares of Western Midstream Partners by 0.7% during the second quarter. Albert D Mason Inc. now owns 48,760 shares of the pipeline company’s stock worth $1,937,000 after acquiring an additional 333 shares during the period. Hedge funds and other institutional investors own 42.94% of the company’s stock.

Western Midstream Partners Stock Performance

Shares of WES opened at $40.02 on Thursday. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market capitalization of $15.23 billion, a price-to-earnings ratio of 10.21, a PEG ratio of 1.09 and a beta of 2.90. The company’s 50 day simple moving average is $38.39 and its 200 day simple moving average is $38.81. Western Midstream Partners, LP has a 1 year low of $26.81 and a 1 year high of $42.80.

Western Midstream Partners (NYSE:WES) last announced its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.09). The firm had revenue of $883.36 million for the quarter, compared to analysts’ expectations of $924.83 million. Western Midstream Partners had a net margin of 42.99% and a return on equity of 46.02%. The business’s quarterly revenue was up 13.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.70 EPS. On average, sell-side analysts predict that Western Midstream Partners, LP will post 4.05 EPS for the current year.

Western Midstream Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were paid a dividend of $0.875 per share. This represents a $3.50 annualized dividend and a dividend yield of 8.75%. The ex-dividend date of this dividend was Friday, November 1st. Western Midstream Partners’s payout ratio is 89.29%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on WES. Morgan Stanley lowered shares of Western Midstream Partners from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $42.00 to $40.00 in a research note on Friday, October 25th. US Capital Advisors raised shares of Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 26th. StockNews.com downgraded shares of Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, October 28th. Stifel Nicolaus boosted their price objective on shares of Western Midstream Partners from $39.00 to $40.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Finally, Bank of America began coverage on shares of Western Midstream Partners in a report on Thursday, October 17th. They set an “underperform” rating and a $37.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $37.88.

About Western Midstream Partners

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.