Apollon Wealth Management LLC Has $1.02 Million Stake in Western Midstream Partners, LP $WES

Apollon Wealth Management LLC raised its position in shares of Western Midstream Partners, LP (NYSE:WES) by 1.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,382 shares of the pipeline company’s stock after buying an additional 269 shares during the period. Apollon Wealth Management LLC’s holdings in Western Midstream Partners were worth $1,021,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of WES. Financial Network Wealth Advisors LLC increased its holdings in shares of Western Midstream Partners by 1,856.4% in the first quarter. Financial Network Wealth Advisors LLC now owns 763 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 724 shares in the last quarter. Sound Income Strategies LLC acquired a new stake in shares of Western Midstream Partners in the second quarter valued at approximately $39,000. Bessemer Group Inc. acquired a new stake in shares of Western Midstream Partners in the first quarter valued at approximately $41,000. Ameritas Advisory Services LLC acquired a new stake in shares of Western Midstream Partners in the second quarter valued at approximately $49,000. Finally, Iron Horse Wealth Management LLC acquired a new stake in shares of Western Midstream Partners in the second quarter valued at approximately $58,000. Institutional investors and hedge funds own 84.82% of the company’s stock.

Wall Street Analysts Forecast Growth

WES has been the subject of a number of research reports. Mizuho raised 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. Morgan Stanley lowered their price target on shares of Western Midstream Partners from $41.00 to $39.00 and set an “underweight” rating for the company in a report on Tuesday, August 26th. Finally, Royal Bank Of Canada raised their price target on shares of Western Midstream Partners from $38.00 to $39.00 and gave the company a “sector perform” rating in a report on Tuesday, August 26th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $39.60.

Western Midstream Partners Price Performance

WES opened at $37.60 on Wednesday. The company has a fifty day moving average price of $38.48 and a two-hundred day moving average price of $38.51. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.30 and a current ratio of 1.30. Western Midstream Partners, LP has a 52 week low of $33.60 and a 52 week high of $43.33. The firm has a market capitalization of $14.34 billion, a PE ratio of 11.57 and a beta of 1.12.

Western Midstream Partners (NYSE:WES) last released its earnings results on Wednesday, August 6th. The pipeline company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.05. Western Midstream Partners had a net margin of 34.45% and a return on equity of 37.70%. The firm had revenue of $942.32 million during the quarter, compared to analyst estimates of $954.17 million. During the same quarter in the previous year, the business earned $0.97 EPS. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. As a group, analysts anticipate that Western Midstream Partners, LP will post 4.02 earnings per share for the current year.

Western Midstream Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 1st were given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 9.7%. The ex-dividend date of this dividend was Friday, August 1st. Western Midstream Partners’s dividend payout ratio (DPR) is currently 112.00%.

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.