Texas Yale Capital Corp. Grows Stock Position in Western Midstream Partners, LP $WES

Texas Yale Capital Corp. grew its stake in shares of Western Midstream Partners, LP (NYSE:WES) by 23.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 539,371 shares of the pipeline company’s stock after acquiring an additional 101,400 shares during the quarter. Western Midstream Partners comprises about 0.7% of Texas Yale Capital Corp.’s holdings, making the stock its 13th largest position. Texas Yale Capital Corp. owned 0.14% of Western Midstream Partners worth $20,874,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of WES. Financial Network Wealth Advisors LLC grew its holdings in Western Midstream Partners by 1,856.4% in the first quarter. Financial Network Wealth Advisors LLC now owns 763 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 724 shares during the period. Sound Income Strategies LLC acquired a new stake in shares of Western Midstream Partners during the 2nd quarter worth $39,000. Ameritas Advisory Services LLC purchased a new position in shares of Western Midstream Partners in the 2nd quarter worth $49,000. Iron Horse Wealth Management LLC acquired a new position in Western Midstream Partners in the second quarter valued at $58,000. Finally, Militia Capital Partners LP purchased a new stake in Western Midstream Partners during the first quarter valued at about $123,000. 84.82% of the stock is currently owned by hedge funds and other institutional investors.

Western Midstream Partners Price Performance

WES opened at $38.49 on Friday. Western Midstream Partners, LP has a twelve month low of $33.60 and a twelve month high of $43.33. The firm has a market cap of $14.68 billion, a price-to-earnings ratio of 11.84 and a beta of 1.14. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 2.08. The company has a fifty day simple moving average of $38.38 and a 200 day simple moving average of $38.56.

Western Midstream Partners (NYSE:WES) last announced its earnings results on Tuesday, November 4th. The pipeline company reported $0.87 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.87. The business had revenue of $952.48 million for the quarter, compared to analyst estimates of $965.55 million. Western Midstream Partners had a return on equity of 37.70% and a net margin of 34.45%.The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.74 earnings per share. Equities research analysts expect that Western Midstream Partners, LP will post 4.02 EPS for the current fiscal year.

Western Midstream Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 9.5%. The ex-dividend date of this dividend is Friday, October 31st. Western Midstream Partners’s dividend payout ratio (DPR) is currently 107.69%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on WES shares. Citigroup initiated coverage on Western Midstream Partners in a report on Monday, October 20th. They issued a “neutral” rating and a $39.00 price objective on the stock. Royal Bank Of Canada raised their price target 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. Mizuho boosted their price objective on shares of Western Midstream Partners from $44.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, August 29th. Morgan Stanley cut their target price on shares of 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. Finally, Stifel Nicolaus set a $43.00 target price on shares of Western Midstream Partners in a report on Thursday. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $40.50.

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.