Howard Financial Services LTD. Boosts Stake in Western Midstream Partners, LP $WES

Howard Financial Services LTD. boosted its stake in Western Midstream Partners, LP (NYSE:WES) by 7.2% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,951 shares of the pipeline company’s stock after buying an additional 736 shares during the quarter. Howard Financial Services LTD.’s holdings in Western Midstream Partners were worth $424,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of WES. Princeton Global Asset Management LLC boosted its position in Western Midstream Partners by 133.3% during the first quarter. Princeton Global Asset Management LLC now owns 700 shares of the pipeline company’s stock worth $29,000 after acquiring an additional 400 shares during the last quarter. Atria Wealth Solutions Inc. raised its holdings in Western Midstream Partners by 5.0% in the 1st quarter. Atria Wealth Solutions Inc. now owns 8,559 shares of the pipeline company’s stock valued at $351,000 after acquiring an additional 411 shares during the last quarter. Ieq Capital LLC lifted its stake in shares of Western Midstream Partners by 1.2% during the 1st quarter. Ieq Capital LLC now owns 34,485 shares of the pipeline company’s stock worth $1,412,000 after purchasing an additional 415 shares during the period. Apollon Wealth Management LLC boosted its holdings in shares of Western Midstream Partners by 1.6% during the first quarter. Apollon Wealth Management LLC now owns 26,113 shares of the pipeline company’s stock worth $1,070,000 after purchasing an additional 422 shares during the last quarter. Finally, Private Advisor Group LLC grew its position in shares of Western Midstream Partners by 9.3% in the first quarter. Private Advisor Group LLC now owns 5,926 shares of the pipeline company’s stock valued at $243,000 after purchasing an additional 503 shares during the period. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Morgan Stanley reduced their target price on Western Midstream Partners from $41.00 to $39.00 and set an “underweight” rating on the stock in a research report on Tuesday, August 26th. Mizuho increased their price objective on shares of Western Midstream Partners from $44.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, August 29th. Finally, Royal Bank Of Canada boosted their target price on shares of Western Midstream Partners from $38.00 to $39.00 and gave the company a “sector perform” rating in a report on Tuesday, August 26th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $39.60.

Western Midstream Partners Stock Up 0.1%

Shares of NYSE:WES opened at $38.40 on Friday. The stock has a 50-day simple moving average of $39.13 and a 200-day simple moving average of $38.82. The stock has a market capitalization of $14.64 billion, a P/E ratio of 11.82 and a beta of 1.17. Western Midstream Partners, LP has a 1 year low of $33.60 and a 1 year high of $43.33. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.30 and a current ratio of 1.30.

Western Midstream Partners (NYSE:WES) last announced its quarterly earnings results on Wednesday, August 6th. The pipeline company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.05. Western Midstream Partners had a net margin of 34.45% and a return on equity of 37.70%. The firm had revenue of $942.32 million for the quarter, compared to analysts’ expectations of $954.17 million. During the same period in the previous year, the company posted $0.97 earnings per share. Western Midstream Partners’s revenue was up 4.1% compared to the same quarter last year. Equities analysts forecast that Western Midstream Partners, LP will post 4.02 earnings per share for the current year.

Western Midstream Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Friday, August 1st were issued a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 9.5%. The ex-dividend date was Friday, August 1st. Western Midstream Partners’s dividend payout ratio is currently 112.00%.

Western Midstream Partners Profile

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.