Western Midstream Partners, LP (NYSE:WES) Shares Sold by Infrastructure Capital Advisors LLC

Infrastructure Capital Advisors LLC lowered its stake in shares of Western Midstream Partners, LP (NYSE:WES) by 10.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,412,125 shares of the pipeline company’s stock after selling 158,808 shares during the period. Western Midstream Partners comprises about 7.3% of Infrastructure Capital Advisors LLC’s investment portfolio, making the stock its 6th biggest holding. Infrastructure Capital Advisors LLC’s holdings in Western Midstream Partners were worth $54,028,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Chickasaw Capital Management LLC boosted its stake in shares of Western Midstream Partners by 0.6% during the 2nd quarter. Chickasaw Capital Management LLC now owns 6,711,006 shares of the pipeline company’s stock valued at $266,628,000 after buying an additional 37,259 shares during the period. Kayne Anderson Capital Advisors LP boosted its stake in shares of Western Midstream Partners by 23.5% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 6,228,448 shares of the pipeline company’s stock valued at $238,300,000 after buying an additional 1,184,597 shares during the period. Fractal Investments LLC boosted its stake in shares of Western Midstream Partners by 5.4% during the 3rd quarter. Fractal Investments LLC now owns 1,465,706 shares of the pipeline company’s stock valued at $56,078,000 after buying an additional 75,145 shares during the period. Miller Howard Investments Inc. NY boosted its stake in shares of Western Midstream Partners by 2.8% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 1,458,530 shares of the pipeline company’s stock valued at $57,947,000 after buying an additional 39,827 shares during the period. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its stake in shares of Western Midstream Partners by 10.1% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,315,472 shares of the pipeline company’s stock valued at $50,330,000 after buying an additional 120,202 shares during the period. Institutional investors and hedge funds own 42.94% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on WES. Morgan Stanley downgraded shares of Western Midstream Partners from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $42.00 to $40.00 in a report on Friday, October 25th. US Capital Advisors upgraded shares of Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a report on Tuesday. UBS Group cut their price target on shares of Western Midstream Partners from $40.00 to $37.00 and set a “neutral” rating on the stock in a report on Friday, November 15th. Stifel Nicolaus raised their price target on shares of Western Midstream Partners from $39.00 to $40.00 and gave the company a “hold” rating in a report on Friday, August 9th. Finally, Royal Bank of Canada raised their price target on shares of Western Midstream Partners from $38.00 to $41.00 and gave the company a “sector perform” rating in a report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $37.88.

Western Midstream Partners Stock Up 2.3 %

Western Midstream Partners stock opened at $39.63 on Friday. The firm has a market cap of $15.08 billion, a price-to-earnings ratio of 10.11, a P/E/G ratio of 1.07 and a beta of 2.88. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.11 and a quick ratio of 1.11. Western Midstream Partners, LP has a fifty-two week low of $26.81 and a fifty-two week high of $42.80. The firm has a fifty day moving average price of $38.27 and a two-hundred day moving average price of $38.73.

Western Midstream Partners (NYSE:WES) last released its earnings results on Wednesday, November 6th. The pipeline company reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.09). The firm had revenue of $883.36 million for the quarter, compared to analyst estimates of $924.83 million. Western Midstream Partners had a return on equity of 46.02% and a net margin of 42.99%. The firm’s revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.70 EPS. As a group, analysts forecast that Western Midstream Partners, LP will post 4.05 earnings per share for the current year.

Western Midstream Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were given a dividend of $0.875 per share. This represents a $3.50 dividend on an annualized basis and a dividend yield of 8.83%. The ex-dividend date of this dividend was Friday, November 1st. Western Midstream Partners’s dividend payout ratio is currently 89.29%.

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.