Nuveen LLC Buys Shares of 7,134 Western Midstream Partners, LP $WES

Nuveen LLC bought a new stake in shares of Western Midstream Partners, LP (NYSE:WES) during the first quarter, HoldingsChannel reports. The fund bought 7,134 shares of the pipeline company’s stock, valued at approximately $292,000.

A number of other large investors have also recently bought and sold shares of WES. Princeton Global Asset Management LLC grew its holdings in Western Midstream Partners by 133.3% during the 1st quarter. Princeton Global Asset Management LLC now owns 700 shares of the pipeline company’s stock valued at $29,000 after buying an additional 400 shares during the last quarter. Cary Street Partners Financial LLC acquired a new stake in shares of Western Midstream Partners during the fourth quarter worth $39,000. Bessemer Group Inc. acquired a new stake in shares of Western Midstream Partners during the first quarter worth $41,000. Creative Financial Designs Inc. ADV acquired a new stake in shares of Western Midstream Partners during the first quarter worth $72,000. Finally, State of Wyoming boosted its holdings in shares of Western Midstream Partners by 40.6% during the fourth quarter. State of Wyoming now owns 3,323 shares of the pipeline company’s stock worth $128,000 after purchasing an additional 960 shares during the last quarter. Institutional investors and hedge funds own 84.82% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on WES. Morgan Stanley decreased their price objective on Western Midstream Partners from $41.00 to $39.00 and set an “underweight” rating on the stock in a report on Tuesday, August 26th. Royal Bank Of Canada raised their price objective on Western Midstream Partners from $38.00 to $39.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 26th. Finally, Mizuho raised their price objective on Western Midstream Partners from $44.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, August 29th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $39.60.

Western Midstream Partners Trading Down 1.0%

Shares of WES opened at $38.08 on Friday. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 2.08. The firm has a market capitalization of $14.52 billion, a P/E ratio of 11.72 and a beta of 1.17. The stock’s fifty day simple moving average is $39.18 and its 200 day simple moving average is $38.91. Western Midstream Partners, LP has a twelve month low of $33.60 and a twelve month high of $43.33.

Western Midstream Partners (NYSE:WES) last issued its earnings results on Wednesday, August 6th. The pipeline company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.05. The business had revenue of $942.32 million for the quarter, compared to analyst estimates of $954.17 million. Western Midstream Partners had a return on equity of 37.70% and a net margin of 34.45%.The business’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period last year, the company posted $0.97 EPS. On average, equities research analysts forecast that Western Midstream Partners, LP will post 4.02 earnings per share for the current year.

Western Midstream Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Friday, August 1st were issued a $0.91 dividend. The ex-dividend date of this dividend was Friday, August 1st. This represents a $3.64 dividend on an annualized basis and a yield of 9.6%. Western Midstream Partners’s dividend payout ratio is currently 112.00%.

Western Midstream Partners 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.