Chickasaw Capital Management LLC Has $254.65 Million Position in Western Midstream Partners, LP (NYSE:WES)

Chickasaw Capital Management LLC lowered its position in Western Midstream Partners, LP (NYSE:WES) by 0.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,655,869 shares of the pipeline company’s stock after selling 55,137 shares during the period. Western Midstream Partners accounts for about 10.9% of Chickasaw Capital Management LLC’s holdings, making the stock its 2nd biggest position. Chickasaw Capital Management LLC owned approximately 1.75% of Western Midstream Partners worth $254,654,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. DRW Securities LLC bought a new position in Western Midstream Partners in the 4th quarter valued at about $1,550,000. Nomura Holdings Inc. increased its stake in Western Midstream Partners by 34.3% in the 4th quarter. Nomura Holdings Inc. now owns 270,000 shares of the pipeline company’s stock valued at $7,900,000 after buying an additional 69,000 shares during the last quarter. Mather Group LLC. bought a new position in shares of Western Midstream Partners during the 1st quarter worth approximately $82,000. American National Bank boosted its stake in shares of Western Midstream Partners by 34.5% in the 1st quarter. American National Bank now owns 1,190 shares of the pipeline company’s stock worth $42,000 after buying an additional 305 shares during the last quarter. Finally, True North Advisors LLC bought a new position in shares of Western Midstream Partners in the first quarter valued at approximately $1,012,000. Institutional investors and hedge funds own 42.94% of the company’s stock.

Wall Street Analysts Forecast Growth

WES has been the subject of a number of recent analyst reports. Stifel Nicolaus upped their price objective on Western Midstream Partners from $39.00 to $40.00 and gave the company a “hold” rating in a research note on Friday, August 9th. Morgan Stanley downgraded shares of Western Midstream Partners from an “overweight” rating to an “equal weight” rating and set a $42.00 price objective for the company. in a report on Monday, September 16th. UBS Group increased their target price on shares of Western Midstream Partners from $38.00 to $39.00 and gave the company a “neutral” rating in a research report on Wednesday, September 18th. Royal Bank of Canada boosted their target price on shares of Western Midstream Partners from $36.00 to $38.00 and gave the company a “sector perform” rating in a report on Tuesday, August 27th. Finally, StockNews.com downgraded Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a research report on Saturday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Western Midstream Partners currently has an average rating of “Hold” and a consensus price target of $36.75.

Insider Transactions at Western Midstream Partners

In other Western Midstream Partners news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of Western Midstream Partners stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the sale, the insider now directly owns 165,681,578 shares of the company’s stock, valued at approximately $5,923,116,413.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.04% of the company’s stock.

Western Midstream Partners Trading Up 0.9 %

Western Midstream Partners stock traded up $0.37 during trading hours on Friday, reaching $39.79. The stock had a trading volume of 467,545 shares, compared to its average volume of 834,190. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.68 and a quick ratio of 1.68. The company has a fifty day simple moving average of $38.58 and a 200-day simple moving average of $38.12. The stock has a market cap of $15.14 billion, a PE ratio of 10.26, a PEG ratio of 0.74 and a beta of 2.87. Western Midstream Partners, LP has a 52 week low of $26.49 and a 52 week high of $42.80.

Western Midstream Partners (NYSE:WES) last issued its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.09. The firm had revenue of $905.63 million for the quarter, compared to analyst estimates of $904.94 million. Western Midstream Partners had a return on equity of 47.19% and a net margin of 44.01%. During the same period last year, the company earned $0.64 EPS. The business’s quarterly revenue was up 22.7% compared to the same quarter last year. Analysts forecast that Western Midstream Partners, LP will post 4.16 EPS for the current fiscal year.

Western Midstream Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st were issued a $0.875 dividend. The ex-dividend date was Thursday, August 1st. This represents a $3.50 annualized dividend and a yield of 8.80%. Western Midstream Partners’s dividend payout ratio (DPR) is presently 90.21%.

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.