Longfellow Investment Management Co. LLC Has $43.04 Million Stock Holdings in Western Midstream Partners, LP $WES

Longfellow Investment Management Co. LLC grew its stake in shares of Western Midstream Partners, LP (NYSE:WES) by 10.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,089,519 shares of the pipeline company’s stock after purchasing an additional 103,801 shares during the period. Western Midstream Partners comprises approximately 9.7% of Longfellow Investment Management Co. LLC’s portfolio, making the stock its 3rd biggest position. Longfellow Investment Management Co. LLC owned about 0.27% of Western Midstream Partners worth $43,036,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WES. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Western Midstream Partners during the 3rd quarter worth approximately $300,257,000. Goldman Sachs Group Inc. increased its holdings in Western Midstream Partners by 10.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 9,562,213 shares of the pipeline company’s stock worth $377,707,000 after purchasing an additional 936,376 shares in the last quarter. Berkley W R Corp bought a new stake in Western Midstream Partners during the 3rd quarter worth approximately $34,857,000. CIBC Bancorp USA Inc. bought a new stake in Western Midstream Partners during the 3rd quarter worth approximately $32,153,000. Finally, Bank of America Corp DE increased its holdings in Western Midstream Partners by 31.2% during the 3rd quarter. Bank of America Corp DE now owns 1,872,394 shares of the pipeline company’s stock worth $73,566,000 after purchasing an additional 445,663 shares in the last quarter. 84.82% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on WES. JPMorgan Chase & Co. decreased their price objective on Western Midstream Partners from $44.00 to $43.00 and set a “neutral” rating for the company in a report on Thursday, March 12th. Wells Fargo & Company boosted their price objective on Western Midstream Partners from $41.00 to $43.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 13th. Morgan Stanley boosted their price objective on Western Midstream Partners from $41.00 to $51.00 and gave the stock an “underweight” rating in a report on Wednesday, May 27th. Wall Street Zen raised Western Midstream Partners from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Finally, Stifel Nicolaus set a $46.00 price objective on Western Midstream Partners and gave the stock a “buy” rating in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $44.75.

Insider Activity

In other Western Midstream Partners news, Director Robert G. Phillips purchased 1,250 shares of the stock in a transaction dated Wednesday, March 11th. The shares were bought at an average price of $40.19 per share, with a total value of $50,237.50. Following the completion of the transaction, the director directly owned 5,296 shares in the company, valued at approximately $212,846.24. This trade represents a 30.89% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.04% of the stock is currently owned by company insiders.

Western Midstream Partners Price Performance

Shares of NYSE WES opened at $44.43 on Friday. The stock has a fifty day simple moving average of $42.87 and a two-hundred day simple moving average of $41.39. Western Midstream Partners, LP has a 1-year low of $36.90 and a 1-year high of $48.01. The firm has a market cap of $17.49 billion, a price-to-earnings ratio of 14.52, a price-to-earnings-growth ratio of 1.87 and a beta of 0.68. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.34.

Western Midstream Partners (NYSE:WES) last announced its quarterly earnings data on Wednesday, May 6th. The pipeline company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.11. Western Midstream Partners had a return on equity of 33.89% and a net margin of 29.98%.The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period in the prior year, the company earned $0.79 earnings per share. Western Midstream Partners’s revenue was up 22.5% compared to the same quarter last year. Analysts anticipate that Western Midstream Partners, LP will post 3.44 earnings per share for the current year.

Western Midstream Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were given a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 8.4%. This is an increase from Western Midstream Partners’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend was Friday, May 1st. Western Midstream Partners’s payout ratio is presently 121.57%.

About Western Midstream Partners

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.