Texas Yale Capital Corp. Has $24.46 Million Stock Position in Western Midstream Partners, LP $WES

Texas Yale Capital Corp. increased its holdings in Western Midstream Partners, LP (NYSE:WES) by 7.5% in the 4th quarter, Holdings Channel reports. The fund owned 619,271 shares of the pipeline company’s stock after buying an additional 43,462 shares during the quarter. Western Midstream Partners accounts for about 0.7% of Texas Yale Capital Corp.’s investment portfolio, making the stock its 10th biggest position. Texas Yale Capital Corp.’s holdings in Western Midstream Partners were worth $24,461,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. BNP Paribas Financial Markets increased its stake in shares of Western Midstream Partners by 42.1% in the 4th quarter. BNP Paribas Financial Markets now owns 1,499,691 shares of the pipeline company’s stock worth $59,238,000 after acquiring an additional 443,950 shares in the last quarter. Pasadena Private Wealth LLC bought a new stake in Western Midstream Partners during the 4th quarter valued at about $229,000. Rothschild Investment LLC increased its stake in Western Midstream Partners by 76.2% during the 4th quarter. Rothschild Investment LLC now owns 793 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 343 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in Western Midstream Partners during the 4th quarter valued at about $27,000. Finally, Moors & Cabot Inc. increased its stake in Western Midstream Partners by 209.5% during the 4th quarter. Moors & Cabot Inc. now owns 24,226 shares of the pipeline company’s stock valued at $957,000 after purchasing an additional 16,398 shares in the last quarter. 84.82% of the stock is currently owned by institutional investors.

Insider Activity at Western Midstream Partners

In related news, Director Robert G. Phillips purchased 1,250 shares of Western Midstream Partners stock in a transaction dated Wednesday, March 11th. The stock was purchased at an average cost of $40.19 per share, for a total transaction of $50,237.50. Following the completion of the purchase, the director directly owned 5,296 shares of the company’s stock, valued at $212,846.24. The trade was a 30.89% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.04% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have weighed in on WES. UBS Group raised their price objective on shares of Western Midstream Partners from $40.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, May 21st. Stifel Nicolaus set a $46.00 price objective on shares of Western Midstream Partners and gave the company a “buy” rating in a research note on Thursday, May 7th. Morgan Stanley raised their price objective on shares of Western Midstream Partners from $41.00 to $51.00 and gave the company an “underweight” rating in a research note on Wednesday. Wells Fargo & Company raised their price objective on shares of Western Midstream Partners from $41.00 to $43.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 13th. Finally, Citigroup increased their price objective on Western Midstream Partners from $39.00 to $42.00 and gave the company a “neutral” rating in a research report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Western Midstream Partners has a consensus rating of “Hold” and an average price target of $44.75.

Western Midstream Partners Stock Performance

Shares of WES stock opened at $42.80 on Friday. The company has a 50 day moving average price of $42.63 and a 200-day moving average price of $41.21. Western Midstream Partners, LP has a 52 week low of $36.90 and a 52 week high of $48.01. The firm has a market capitalization of $16.85 billion, a PE ratio of 13.99, a P/E/G ratio of 1.82 and a beta of 0.70. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 2.34.

Western Midstream Partners (NYSE:WES) last announced its quarterly earnings results on Wednesday, May 6th. The pipeline company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.11. Western Midstream Partners had a net margin of 29.98% and a return on equity of 33.89%. The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the business posted $0.79 earnings per share. The business’s revenue for the quarter was up 22.5% on a year-over-year basis. As a group, equities research analysts expect that Western Midstream Partners, LP will post 3.41 earnings per share for the current year.

Western Midstream Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were paid a $0.93 dividend. This is a boost from Western Midstream Partners’s previous quarterly dividend of $0.91. This represents a $3.72 dividend on an annualized basis and a dividend yield of 8.7%. The ex-dividend date was Friday, May 1st. Western Midstream Partners’s dividend payout ratio (DPR) is presently 121.57%.

Western Midstream Partners Profile

Western Midstream Partners, LP (NYSE: WES) is a midstream energy infrastructure company that owns, operates and develops an integrated network of crude oil, natural gas and produced water gathering, processing, transportation and storage assets in the United States. The partnership’s primary offerings include pipeline transportation, fractionation services, natural gas liquids (NGL) logistics and produced water handling. Through its fee-based and commodity-based contracts, Western Midstream provides its customers with essential services that support efficient energy production and distribution.

The company’s asset portfolio spans key onshore basins, including the Delaware Basin in West Texas and southeastern New Mexico, the San Juan Basin in New Mexico and Colorado, and the Denver-Julesburg Basin in Colorado.