Virtus ETF Advisers LLC Acquires Shares of 78,855 Western Midstream Partners LP (NYSE:WES)

Virtus ETF Advisers LLC acquired a new stake in shares of Western Midstream Partners LP (NYSE:WES) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 78,855 shares of the pipeline company’s stock, valued at approximately $2,426,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in WES. Chilton Capital Management LLC lifted its position in shares of Western Midstream Partners by 0.7% during the second quarter. Chilton Capital Management LLC now owns 88,876 shares of the pipeline company’s stock worth $2,735,000 after acquiring an additional 595 shares in the last quarter. HighTower Advisors LLC lifted its position in shares of Western Midstream Partners by 5.2% during the second quarter. HighTower Advisors LLC now owns 743,799 shares of the pipeline company’s stock worth $22,887,000 after acquiring an additional 36,755 shares in the last quarter. United Capital Financial Advisers LLC purchased a new stake in shares of Western Midstream Partners during the second quarter worth $451,000. Castleark Management LLC lifted its position in shares of Western Midstream Partners by 40.8% during the second quarter. Castleark Management LLC now owns 264,851 shares of the pipeline company’s stock worth $8,149,000 after acquiring an additional 76,740 shares in the last quarter. Finally, Icon Wealth Partners LLC lifted its position in shares of Western Midstream Partners by 9.2% during the second quarter. Icon Wealth Partners LLC now owns 23,722 shares of the pipeline company’s stock worth $730,000 after acquiring an additional 1,991 shares in the last quarter. 43.29% of the stock is owned by institutional investors and hedge funds.

NYSE WES traded up $0.85 during trading hours on Friday, reaching $25.47. 139,940 shares of the stock traded hands, compared to its average volume of 1,134,748. The stock has a 50 day simple moving average of $24.75 and a two-hundred day simple moving average of $30.09. Western Midstream Partners LP has a 1 year low of $21.92 and a 1 year high of $35.75. The company has a debt-to-equity ratio of 2.15, a current ratio of 0.67 and a quick ratio of 0.67. The company has a market cap of $11.22 billion, a price-to-earnings ratio of 10.18, a price-to-earnings-growth ratio of 2.45 and a beta of 1.42.

Western Midstream Partners (NYSE:WES) last released its quarterly earnings results on Tuesday, July 30th. The pipeline company reported $0.37 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.27). Western Midstream Partners had a net margin of 18.98% and a return on equity of 14.63%. The firm had revenue of $685.10 million for the quarter, compared to analysts’ expectations of $709.39 million. During the same quarter in the previous year, the business earned ($0.32) EPS. The company’s revenue for the quarter was up 32.2% on a year-over-year basis. On average, sell-side analysts forecast that Western Midstream Partners LP will post 1.69 EPS for the current fiscal year.

A number of brokerages recently issued reports on WES. ValuEngine downgraded Western Midstream Partners from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 1st. Royal Bank of Canada lowered their price objective on Western Midstream Partners to $28.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Scotiabank began coverage on Western Midstream Partners in a research report on Tuesday, September 3rd. They issued a “sector perform” rating and a $28.00 price objective on the stock. JPMorgan Chase & Co. downgraded Western Midstream Partners from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $40.00 to $31.00 in a research report on Tuesday, August 13th. Finally, Zacks Investment Research downgraded Western Midstream Partners from a “buy” rating to a “hold” rating in a research report on Saturday, August 3rd. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company. Western Midstream Partners presently has an average rating of “Hold” and a consensus target price of $36.29.

About Western Midstream Partners

Western Midstream Partners, LP, together with its subsidiaries, engages in gathering, processing, compressing, treating, stabilizing, and transporting natural gas, condensate, natural gas liquids, and crude oil primarily in the United States. It is also involved in the gathering and disposing of produced water; and buying and selling of natural gas.

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Institutional Ownership by Quarter for Western Midstream Partners (NYSE:WES)

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