61,156 Western Midstream Partners, LP $WES Shares Purchased by Miller Howard Investments Inc. NY

Miller Howard Investments Inc. NY grew its position in Western Midstream Partners, LP (NYSE:WES) by 3.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,710,098 shares of the pipeline company’s stock after purchasing an additional 61,156 shares during the period. Western Midstream Partners comprises about 2.0% of Miller Howard Investments Inc. NY’s portfolio, making the stock its 7th largest position. Miller Howard Investments Inc. NY owned approximately 0.41% of Western Midstream Partners worth $75,877,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pension & Wealth Management Advisors Inc. bought a new stake in shares of Western Midstream Partners in the 3rd quarter valued at $25,000. Farther Finance Advisors LLC raised its stake in Western Midstream Partners by 37.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 924 shares of the pipeline company’s stock worth $41,000 after buying an additional 254 shares during the period. Continuum Advisory LLC bought a new position in Western Midstream Partners during the second quarter worth about $41,000. Toth Financial Advisory Corp lifted its holdings in Western Midstream Partners by 209.4% during the second quarter. Toth Financial Advisory Corp now owns 1,835 shares of the pipeline company’s stock worth $80,000 after acquiring an additional 1,242 shares in the last quarter. Finally, Compass Financial Management LLC bought a new position in Western Midstream Partners during the second quarter worth about $132,000. 84.82% of the stock is owned by institutional investors.

Western Midstream Partners Stock Performance

Shares of Western Midstream Partners stock opened at $45.14 on Tuesday. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market cap of $18.65 billion, a price-to-earnings ratio of 14.19, a price-to-earnings-growth ratio of 1.22 and a beta of 0.74. The stock’s 50-day moving average is $46.75 and its 200-day moving average is $44.06. Western Midstream Partners, LP has a one year low of $36.90 and a one year high of $50.07.

Western Midstream Partners (NYSE:WES) last posted its quarterly earnings data on Wednesday, August 5th. The pipeline company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.08. Western Midstream Partners had a return on equity of 33.13% and a net margin of 29.44%. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period last year, the company earned $0.87 earnings per share. Western Midstream Partners’s quarterly revenue was up 30.0% on a year-over-year basis. Equities analysts predict that Western Midstream Partners, LP will post 3.66 earnings per share for the current fiscal year.

Western Midstream Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Monday, November 2nd will be given a dividend of $0.93 per share. The ex-dividend date of this dividend is Monday, November 2nd. This represents a $3.72 dividend on an annualized basis and a yield of 8.2%. Western Midstream Partners’s dividend payout ratio is 116.98%.

Insiders Place Their Bets

In other news, Director Frederick Forthuber purchased 5,140 shares of Western Midstream Partners stock in a transaction on Wednesday, August 12th. The stock was purchased at an average price of $48.62 per share, with a total value of $249,906.80. Following the transaction, the director directly owned 5,140 shares in the company, valued at $249,906.80. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 0.04% of the stock is currently owned by company insiders.

Analyst Ratings Changes

WES has been the subject of a number of research analyst reports. Zacks Research raised Western Midstream Partners from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 13th. Citigroup raised their price target on Western Midstream Partners from $42.00 to $45.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 11th. Morgan Stanley dropped their price target on Western Midstream Partners from $55.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 21st. Truist Financial began coverage on Western Midstream Partners in a report on Thursday, September 17th. They set a “buy” rating and a $55.00 price objective on the stock. Finally, Wells Fargo & Company boosted their price objective on Western Midstream Partners from $43.00 to $46.00 and gave the company an “equal weight” rating in a research report on Monday, August 10th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $49.89.

Western Midstream Partners Company Profile

Western Midstream Partners, L.P. (NYSE:WES) is a master limited partnership that owns and operates midstream energy infrastructure in the United States. The company provides gathering, processing, transportation, storage and treating services for natural gas, crude oil, natural gas liquids and produced water.

Western Midstream’s assets include gathering systems, processing plants, pipelines, storage facilities and water-handling infrastructure. These facilities connect oil and gas producers with downstream markets and are generally supported by long-term commercial arrangements.