Albert D Mason Inc. Sells 4,509 Shares of Western Midstream Partners, LP (NYSE:WES)

Albert D Mason Inc. reduced its stake in shares of Western Midstream Partners, LP (NYSE:WES) by 9.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,752 shares of the pipeline company’s stock after selling 4,509 shares during the quarter. Western Midstream Partners accounts for 1.2% of Albert D Mason Inc.’s portfolio, making the stock its 24th largest position. Albert D Mason Inc.’s holdings in Western Midstream Partners were worth $1,720,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Kayne Anderson Capital Advisors LP lifted its position in 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 worth $238,300,000 after buying an additional 1,184,597 shares in the last quarter. Duff & Phelps Investment Management Co. increased its stake in shares of Western Midstream Partners by 6,986.8% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 708,683 shares of the pipeline company’s stock valued at $27,114,000 after buying an additional 698,683 shares during the period. JPMorgan Chase & Co. raised its position in shares of Western Midstream Partners by 60.1% during the third quarter. JPMorgan Chase & Co. now owns 1,785,105 shares of the pipeline company’s stock worth $68,298,000 after acquiring an additional 670,440 shares during the last quarter. ING Groep NV lifted its stake in shares of Western Midstream Partners by 81.0% during the third quarter. ING Groep NV now owns 746,587 shares of the pipeline company’s stock valued at $28,564,000 after acquiring an additional 334,187 shares during the period. Finally, Citigroup Inc. lifted its position in Western Midstream Partners by 322.1% during the 3rd quarter. Citigroup Inc. now owns 406,587 shares of the pipeline company’s stock valued at $15,556,000 after purchasing an additional 310,260 shares during the period. Institutional investors and hedge funds own 84.82% of the company’s stock.

Analysts Set New Price Targets

WES has been the subject of a number of recent research reports. Bank of America assumed coverage on shares of Western Midstream Partners in a research note on Thursday, October 17th. They set an “underperform” rating and a $37.00 price target for the company. StockNews.com lowered Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 28th. Morgan Stanley lowered Western Midstream Partners from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $42.00 to $40.00 in a research report on Friday, October 25th. 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 research report on Friday, November 15th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $41.00 price objective on shares of Western Midstream Partners in a research note on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $37.88.

Western Midstream Partners Price Performance

Shares of WES opened at $41.50 on Friday. The stock has a 50 day simple moving average of $39.14 and a 200 day simple moving average of $39.11. Western Midstream Partners, LP has a 52-week low of $27.49 and a 52-week high of $42.80. 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 firm has a market capitalization of $15.79 billion, a PE ratio of 10.59, a P/E/G ratio of 1.24 and a beta of 2.90.

Western Midstream Partners (NYSE:WES) last issued 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). Western Midstream Partners had a return on equity of 46.02% and a net margin of 42.99%. The company had revenue of $883.36 million for the quarter, compared to the consensus estimate of $924.83 million. During the same period in the prior year, the company earned $0.70 EPS. The firm’s revenue was up 13.8% on a year-over-year basis. Sell-side analysts predict that Western Midstream Partners, LP will post 4.03 EPS for the current fiscal year.

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.