Sequoia Financial Advisors LLC invests $268,000 in Western Midstream Partners, LP (NYSE:WES)

Financial Advisors


Sequoia Financial Advisors LLC acquired a new position in Western Midstream Partners LP (NYSE:WES – Get Rating) during the fourth quarter, according to the company’s latest disclosure filed with the SEC. The fund acquired 10,000 shares of pipeline company stock, valued at approximately $268,000.

Several other hedge funds have also recently changed positions in the business. Goldman Sachs Group Inc increased its stake in Western Midstream Partners by 6.4% in the second quarter. Goldman Sachs Group Inc. purchased an additional 500,806 shares last quarter and now owns 8,345,798 shares of the pipeline company worth $202,887,000. Clearbridge Investments LLC increased its position in the equity of Western Midstream Partners by 14.2% in the first quarter. Clearbridge Investments LLC acquired an additional 623,000 shares last quarter and now owns 5,012,565 shares of the pipeline company worth $126,417,000. UBS Group AG increased its position in Western Midstream Partners shares by 4.0% in the fourth quarter. UBS Group AG acquired an additional 123,807 shares in the previous quarter and now owns 3,236,908 shares in the pipeline company, valued at $86,911,000. Eagle Global Advisors LLC increased its position in the equity of Western Midstream Partners by 0.8% in the fourth quarter. Eagle Global Advisors LLC acquired an additional 15,580 shares in the previous quarter and now owns 2,049,831 shares of Pipeline Company, valued at $55,038,000. Finally, First Trust Advisors LP increased its position in Western Midstream Partners shares by 6.2% in the fourth quarter. First Trust Advisors LP now owns 1,682,516 shares in the pipeline company, valued at $45,176,000, after acquiring an additional 98,031 shares in the previous quarter. Institutional investors and hedge funds own 91.96% of the company’s shares.

Analyst Rating Change

WES has been the subject of several analyst reports. StockNews.com began coverage of Western Midstream Partners’ shares in a research report on Thursday, May 18th. They issued a “buy” rating on the stock. Morgan Stanley lowered its price target on Western Midstream Partners stock to $36.00 from $37.00 in a research report on Tuesday, April 25. Stifel Nikolaus lowered his price target on Western Midstream Partners stock from $33.00 to $32.00 in a research report on Thursday, May 11. Citigroup lowered its price target on Western Midstream Partners stock from $33.00 to $32.00, setting the company’s rating at Buy in a report on Monday, Feb. 27. Finally, in a report on Monday, May 8, VNET Group restated its rating on Western Midstream Partners’ shares as “maintained.” One investment analyst rated the company a ‘hold’ and eight rated it a ‘buy’. Based on MarketBeat data, the company has a consensus rating of “moderate buy” and a consensus price target of $33.43.

Western Midstream Partners stock performance

WES shares opened at $25.81 on Monday. The company has a debt to equity ratio of 2.16, a quick ratio of 1.26 and a current ratio of 1.26. The stock has a market cap of $9.93 billion, a P/E of 9.32 and a beta of 2.77. Its 50-day simple moving average is $26.17 and its 200-day simple moving average is $26.70. Western Midstream Partners, LP hit a 52-week low of $21.95 and a 52-week high of $29.50.

Western Midstream Partners (NYSE:WES – Get Rating) last reported earnings on Wednesday, May 3rd. The pipeline company reported earnings per share (EPS) of $0.52 for the quarter, beating analyst consensus expectations of $0.64 ($0.12). The business generated $733.9 million in revenue for the quarter, compared with analyst expectations of $738.8 million. Western Midstream Partners had a net profit margin of 34.25% and a return on equity of 35.31%. Western Midstream Partners revenues decreased 3.2% compared to the same period last year. The company posted earnings per share of $0.75 in the year-ago quarter. Research analysts expect Western Midstream Partners, LP, to post his 2.73 earnings per share in the current financial year.

Western Midstream Partners increases dividend

The company also recently announced a quarterly dividend, which was paid out on Monday, May 15. A dividend of $0.856 was paid to record shareholders on Monday, May 1. The ex-dividend date for this dividend was Friday, April 28. This is an increase from Western Midstream Partners’ previous quarterly dividend of $0.50. This equates to his $3.42 dividend and his 13.27% yield on an annualized basis. Western Midstream Partners’ dividend payout ratio is 72.20%.

About Western Midstream Partners

(get rating)

Western Midstream Partners LP is engaged in the ownership, operation, acquisition and development of midstream energy assets. The company operates in the collection, processing, compression, processing and transportation of natural gas, condensed water, liquid natural gas and crude oil for Anadarko as well as third party producers and customers.

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