Samalin Investment Counsel LLC Grows Stake in Western Midstream Partners, LP $WES

Samalin Investment Counsel LLC lifted its stake in Western Midstream Partners, LP (NYSE:WES) by 4.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,004 shares of the pipeline company’s stock after buying an additional 1,284 shares during the period. Samalin Investment Counsel LLC’s holdings in Western Midstream Partners were worth $1,200,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Invesco Ltd. lifted its position in Western Midstream Partners by 7.1% during the 1st quarter. Invesco Ltd. now owns 24,417,770 shares of the pipeline company’s stock worth $1,000,152,000 after acquiring an additional 1,608,609 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Western Midstream Partners by 1.8% during the first quarter. Goldman Sachs Group Inc. now owns 8,658,988 shares of the pipeline company’s stock valued at $354,672,000 after purchasing an additional 149,833 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Western Midstream Partners by 2.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,428,847 shares of the pipeline company’s stock worth $304,286,000 after purchasing an additional 155,661 shares in the last quarter. Chickasaw Capital Management LLC lifted its position in shares of Western Midstream Partners by 1.1% during the second quarter. Chickasaw Capital Management LLC now owns 6,794,472 shares of the pipeline company’s stock worth $262,946,000 after purchasing an additional 72,459 shares in the last quarter. Finally, Kingstone Capital Partners Texas LLC purchased a new position in shares of Western Midstream Partners in the second quarter valued at $156,967,000. 84.82% of the stock is currently owned by hedge funds and other institutional investors.

Western Midstream Partners Stock Up 1.2%

NYSE:WES opened at $38.97 on Monday. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.30 and a current ratio of 1.30. The company has a market capitalization of $15.90 billion, a price-to-earnings ratio of 11.99 and a beta of 1.14. Western Midstream Partners, LP has a one year low of $33.60 and a one year high of $43.33. The stock has a 50-day simple moving average of $38.37 and a 200 day simple moving average of $38.58.

Western Midstream Partners (NYSE:WES) last released its earnings results on Tuesday, November 4th. The pipeline company reported $0.87 EPS for the quarter, hitting analysts’ consensus estimates of $0.87. The company had revenue of $952.48 million for the quarter, compared to the consensus estimate of $965.55 million. Western Midstream Partners had a return on equity of 37.70% and a net margin of 34.45%.Western Midstream Partners’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.74 EPS. Sell-side analysts predict that Western Midstream Partners, LP will post 4.02 EPS for the current fiscal year.

Western Midstream Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be paid a dividend of $0.91 per share. The ex-dividend date is Friday, October 31st. This represents a $3.64 annualized dividend and a yield of 9.3%. Western Midstream Partners’s dividend payout ratio (DPR) is 107.69%.

Analyst Ratings Changes

WES has been the topic of several analyst reports. Royal Bank Of Canada lifted their price target on shares of Western Midstream Partners from $38.00 to $39.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 26th. Citigroup initiated coverage on Western Midstream Partners in a research report on Monday, October 20th. They set a “neutral” rating and a $39.00 target price on the stock. Morgan Stanley cut their price target on Western Midstream Partners from $41.00 to $39.00 and set an “underweight” rating on the stock in a research note on Tuesday, August 26th. Mizuho raised their price objective on Western Midstream Partners from $44.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, August 29th. Finally, Stifel Nicolaus set a $43.00 price objective on Western Midstream Partners in a report on Thursday. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Western Midstream Partners presently has a consensus rating of “Hold” and an average price target of $40.50.

Western Midstream Partners Company 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.