Empowered Funds LLC Buys New Position in Western Midstream Partners, LP $WES

Empowered Funds LLC purchased a new position in shares of Western Midstream Partners, LP (NYSE:WES) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 122,699 shares of the pipeline company’s stock, valued at approximately $4,748,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Financial Network Wealth Advisors LLC boosted its position in Western Midstream Partners by 1,856.4% during the first quarter. Financial Network Wealth Advisors LLC now owns 763 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 724 shares during the last quarter. Sound Income Strategies LLC purchased a new position in shares of Western Midstream Partners during the 2nd quarter worth $39,000. MTM Investment Management LLC acquired a new stake in shares of Western Midstream Partners during the second quarter worth $39,000. Allworth Financial LP purchased a new stake in shares of Western Midstream Partners in the second quarter valued at $43,000. Finally, Ameritas Advisory Services LLC acquired a new position in Western Midstream Partners in the second quarter valued at $49,000. 84.82% of the stock is currently owned by hedge funds and other institutional investors.

Western Midstream Partners Trading Up 0.1%

NYSE WES opened at $38.94 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 company’s fifty day simple moving average is $38.49 and its 200-day simple moving average is $38.65. The stock has a market cap of $15.89 billion, a P/E ratio of 11.98 and a beta of 1.14. Western Midstream Partners, LP has a 52 week low of $33.60 and a 52 week high of $43.33.

Western Midstream Partners (NYSE:WES) last announced its earnings results on Tuesday, November 4th. The pipeline company reported $0.87 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.87. Western Midstream Partners had a return on equity of 37.70% and a net margin of 34.45%.The business had revenue of $952.48 million for the quarter, compared to analyst estimates of $965.55 million. During the same period in the previous year, the company earned $0.74 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. Equities research analysts predict that Western Midstream Partners, LP will post 4.02 EPS for the current fiscal year.

Western Midstream Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 31st were paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 9.3%. The ex-dividend date was Friday, October 31st. Western Midstream Partners’s dividend payout ratio (DPR) is 107.69%.

Analysts Set New Price Targets

A number of analysts have issued reports on WES shares. Citigroup began coverage on Western Midstream Partners in a research note on Monday, October 20th. They issued a “neutral” rating and a $39.00 price target on the stock. Royal Bank Of Canada raised their target price on shares of Western Midstream Partners from $38.00 to $39.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 26th. Wells Fargo & Company upped their price target on shares of Western Midstream Partners from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 13th. Mizuho lifted their price target on shares of Western Midstream Partners from $44.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, August 29th. Finally, Stifel Nicolaus set a $43.00 price objective on shares of Western Midstream Partners in a research note on Thursday, November 6th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $41.00.

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.