Simplicity Wealth LLC Takes $215,000 Position in Western Midstream Partners, LP (NYSE:WES)

Simplicity Wealth LLC acquired a new stake in Western Midstream Partners, LP (NYSE:WES) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,400 shares of the pipeline company’s stock, valued at approximately $215,000.

Several other large investors also recently modified their holdings of the stock. Blackstone Inc. grew its stake in shares of Western Midstream Partners by 2.0% in the first quarter. Blackstone Inc. now owns 12,980,724 shares of the pipeline company’s stock valued at $461,465,000 after acquiring an additional 259,928 shares in the last quarter. Chickasaw Capital Management LLC grew its stake in shares of Western Midstream Partners by 0.6% in the second quarter. Chickasaw Capital Management LLC now owns 6,711,006 shares of the pipeline company’s stock valued at $266,628,000 after acquiring an additional 37,259 shares in the last quarter. Kayne Anderson Capital Advisors LP grew its stake in shares of Western Midstream Partners by 27.4% in the first quarter. Kayne Anderson Capital Advisors LP now owns 4,165,829 shares of the pipeline company’s stock valued at $148,095,000 after acquiring an additional 895,715 shares in the last quarter. BROOKFIELD Corp ON grew its stake in shares of Western Midstream Partners by 2.7% in the first quarter. BROOKFIELD Corp ON now owns 2,953,510 shares of the pipeline company’s stock valued at $104,997,000 after acquiring an additional 77,942 shares in the last quarter. Finally, Jennison Associates LLC grew its stake in shares of Western Midstream Partners by 96.0% in the first quarter. Jennison Associates LLC now owns 1,928,179 shares of the pipeline company’s stock valued at $68,547,000 after acquiring an additional 944,494 shares in the last quarter. 42.94% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on WES. StockNews.com downgraded shares of Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday. Wolfe Research upgraded shares of Western Midstream Partners from an “underperform” rating to a “peer perform” rating in a research note on Thursday, April 18th. Stifel Nicolaus increased their price objective on shares of Western Midstream Partners from $39.00 to $40.00 and gave the stock a “hold” rating in a research note on Friday. Wells Fargo & Company increased their price objective on shares of Western Midstream Partners from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 21st. Finally, Mizuho increased their price objective on shares of Western Midstream Partners from $34.00 to $39.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Western Midstream Partners currently has a consensus rating of “Hold” and an average price target of $33.13.

Western Midstream Partners Trading Down 4.2 %

WES opened at $37.93 on Tuesday. The company’s 50 day moving average is $39.78 and its 200-day moving average is $36.10. Western Midstream Partners, LP has a 1-year low of $25.69 and a 1-year high of $42.80. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.08. The company has a market cap of $14.43 billion, a P/E ratio of 10.68, a PEG ratio of 0.85 and a beta of 2.90.

Western Midstream Partners (NYSE:WES) last posted its quarterly earnings results on Wednesday, August 7th. The pipeline company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.09. The company had revenue of $905.63 million for the quarter, compared to the consensus estimate of $904.94 million. Western Midstream Partners had a net margin of 44.01% and a return on equity of 47.19%. The firm’s quarterly revenue was up 22.7% compared to the same quarter last year. During the same period last year, the company posted $0.64 EPS. Equities research analysts predict that Western Midstream Partners, LP will post 4.09 earnings per share for the current fiscal year.

Western Midstream Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Thursday, August 1st will be issued a $0.875 dividend. The ex-dividend date of this dividend is Thursday, August 1st. This represents a $3.50 dividend on an annualized basis and a yield of 9.23%. Western Midstream Partners’s dividend payout ratio (DPR) is presently 98.59%.

About Western Midstream Partners

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.