5,304 Shares in Western Midstream Partners, LP (NYSE:WES) Purchased by Caprock Group LLC

Caprock Group LLC purchased a new position in Western Midstream Partners, LP (NYSE:WES) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 5,304 shares of the pipeline company’s stock, valued at approximately $203,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in WES. Farther Finance Advisors LLC increased its holdings in Western Midstream Partners by 287.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,437 shares of the pipeline company’s stock valued at $55,000 after acquiring an additional 1,066 shares during the last quarter. EverSource Wealth Advisors LLC purchased a new stake in shares of Western Midstream Partners during the 2nd quarter valued at about $74,000. Triad Wealth Partners LLC bought a new position in shares of Western Midstream Partners in the 2nd quarter valued at about $78,000. Cedar Mountain Advisors LLC increased its stake in Western Midstream Partners by 16.1% during the third quarter. Cedar Mountain Advisors LLC now owns 2,158 shares of the pipeline company’s stock worth $83,000 after acquiring an additional 299 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. increased its position in shares of Western Midstream Partners by 63.9% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 2,566 shares of the pipeline company’s stock valued at $102,000 after purchasing an additional 1,000 shares during the last quarter. 42.94% of the stock is currently owned by institutional investors.

Western Midstream Partners Trading Up 2.5 %

WES opened at $38.87 on Monday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.05. The firm has a market cap of $14.79 billion, a price-to-earnings ratio of 9.92, a PEG ratio of 1.04 and a beta of 2.88. Western Midstream Partners, LP has a 12 month low of $26.81 and a 12 month high of $42.80. The stock has a fifty day moving average price of $38.33 and a 200-day moving average price of $38.69.

Western Midstream Partners (NYSE:WES) last released its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.74 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.09). Western Midstream Partners had a net margin of 42.99% and a return on equity of 46.02%. The firm had revenue of $883.36 million for the quarter, compared to analysts’ expectations of $924.83 million. During the same period in the previous year, the company posted $0.70 earnings per share. The business’s quarterly revenue was up 13.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Western Midstream Partners, LP will post 4.09 earnings per share for the current fiscal year.

Western Midstream Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were issued a $0.875 dividend. This represents a $3.50 annualized dividend and a yield of 9.00%. The ex-dividend date of this dividend was Friday, November 1st. Western Midstream Partners’s dividend payout ratio is currently 89.29%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on WES. Royal Bank of Canada increased their target price on shares of Western Midstream Partners from $38.00 to $41.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 16th. StockNews.com lowered Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 28th. Bank of America assumed coverage on Western Midstream Partners in a research note on Thursday, October 17th. They set an “underperform” rating and a $37.00 target price on the stock. UBS Group decreased their price target on Western Midstream Partners from $40.00 to $37.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. Finally, Morgan Stanley cut shares of Western Midstream Partners from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $42.00 to $40.00 in a report on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Western Midstream Partners currently has an average rating of “Hold” and an average target price of $37.88.

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.