Western Midstream Partners, LP (NYSE:WES) is NBW Capital LLC’s 8th Largest Position

NBW Capital LLC increased its stake in Western Midstream Partners, LP (NYSE:WES) by 25.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 322,010 shares of the pipeline company’s stock after buying an additional 64,370 shares during the period. Western Midstream Partners comprises about 2.1% of NBW Capital LLC’s investment portfolio, making the stock its 8th largest position. NBW Capital LLC’s holdings in Western Midstream Partners were worth $9,422,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Alps Advisors Inc. raised its holdings in shares of Western Midstream Partners by 13.0% during the third quarter. Alps Advisors Inc. now owns 33,519,544 shares of the pipeline company’s stock valued at $912,737,000 after buying an additional 3,855,558 shares during the last quarter. Invesco Ltd. raised its position in Western Midstream Partners by 13.8% in the third quarter. Invesco Ltd. now owns 20,746,835 shares of the pipeline company’s stock worth $564,936,000 after acquiring an additional 2,520,712 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Western Midstream Partners by 14.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,280,595 shares of the pipeline company’s stock worth $183,770,000 after purchasing an additional 802,709 shares during the period. Clearbridge Investments LLC boosted its position in shares of Western Midstream Partners by 14.2% in the 1st quarter. Clearbridge Investments LLC now owns 5,012,565 shares of the pipeline company’s stock valued at $126,417,000 after purchasing an additional 623,000 shares during the period. Finally, JPMorgan Chase & Co. grew its position in Western Midstream Partners by 15.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,571,428 shares of the pipeline company’s stock worth $124,480,000 after purchasing an additional 622,108 shares in the last quarter. 42.94% of the stock is owned by institutional investors and hedge funds.

Western Midstream Partners Price Performance

Shares of NYSE WES traded up $0.21 during midday trading on Thursday, hitting $34.64. 262,667 shares of the company’s stock were exchanged, compared to its average volume of 1,255,545. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 2.40. The business’s fifty day moving average price is $33.49 and its two-hundred day moving average price is $30.01. The company has a market cap of $13.18 billion, a price-to-earnings ratio of 13.25 and a beta of 2.83. Western Midstream Partners, LP has a 12-month low of $24.89 and a 12-month high of $36.79.

Western Midstream Partners (NYSE:WES) last issued its earnings results on Wednesday, February 21st. The pipeline company reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.04). Western Midstream Partners had a return on equity of 33.58% and a net margin of 32.72%. The business had revenue of $858.21 million during the quarter, compared to analysts’ expectations of $850.23 million. During the same quarter in the previous year, the business earned $0.85 EPS. Western Midstream Partners’s revenue for the quarter was up 10.1% compared to the same quarter last year. As a group, research analysts forecast that Western Midstream Partners, LP will post 3.45 EPS for the current fiscal year.

Western Midstream Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 13th. Investors of record on Thursday, February 1st were paid a $0.575 dividend. This represents a $2.30 dividend on an annualized basis and a yield of 6.64%. The ex-dividend date was Wednesday, January 31st. Western Midstream Partners’s payout ratio is 88.46%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on WES. Stifel Nicolaus upped their price target on shares of Western Midstream Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Raymond James reaffirmed a “market perform” rating on shares of Western Midstream Partners in a report on Tuesday, March 19th. Wolfe Research upgraded shares of Western Midstream Partners from an “underperform” rating to a “peer perform” rating in a research report on Thursday. Finally, Citigroup downgraded shares of Western Midstream Partners from a “buy” rating to a “neutral” rating and raised their price target for the company from $30.00 to $34.00 in a research note on Thursday, February 29th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $30.75.

Insider Transactions at Western Midstream Partners

In other news, Director Lisa A. Stewart purchased 2,500 shares of Western Midstream Partners stock in a transaction that occurred on Wednesday, March 6th. The shares were bought at an average cost of $34.87 per share, with a total value of $87,175.00. Following the completion of the purchase, the director now directly owns 30,730 shares in the company, valued at $1,071,555.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Lisa A. Stewart purchased 2,500 shares of the stock in a transaction dated Wednesday, March 6th. The stock was purchased at an average price of $34.87 per share, with a total value of $87,175.00. Following the transaction, the director now directly owns 30,730 shares in the company, valued at $1,071,555.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kenneth F. Owen bought 7,000 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was purchased at an average cost of $33.96 per share, with a total value of $237,720.00. Following the completion of the acquisition, the director now directly owns 32,730 shares of the company’s stock, valued at approximately $1,111,510.80. The disclosure for this purchase can be found here. Corporate insiders own 0.04% of the company’s stock.

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.