Western Midstream Partners, LP $WES Shares Purchased by Nicholas Wealth LLC.

Nicholas Wealth LLC. raised its holdings in Western Midstream Partners, LP (NYSE:WES) by 28.5% during the second quarter, HoldingsChannel.com reports. The firm owned 27,813 shares of the pipeline company’s stock after buying an additional 6,173 shares during the period. Nicholas Wealth LLC.’s holdings in Western Midstream Partners were worth $1,076,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in WES. Northern Trust Corp boosted its stake in Western Midstream Partners by 2,725.4% during the 1st quarter. Northern Trust Corp now owns 367,330 shares of the pipeline company’s stock valued at $15,046,000 after acquiring an additional 354,329 shares during the last quarter. Quantum Financial Planning Services Inc. acquired a new stake in shares of Western Midstream Partners in the 2nd quarter valued at about $310,000. Raymond James Financial Inc. raised its stake in shares of Western Midstream Partners by 2.7% in the 1st quarter. Raymond James Financial Inc. now owns 509,737 shares of the pipeline company’s stock valued at $20,879,000 after purchasing an additional 13,269 shares in the last quarter. Allianz Asset Management GmbH lifted its position in shares of Western Midstream Partners by 2.1% during the first quarter. Allianz Asset Management GmbH now owns 377,364 shares of the pipeline company’s stock worth $15,457,000 after purchasing an additional 7,900 shares during the last quarter. Finally, Navellier & Associates Inc. acquired a new position in Western Midstream Partners in the first quarter worth about $424,000. Institutional investors and hedge funds own 84.82% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on WES shares. Citigroup assumed coverage on Western Midstream Partners in a research note on Monday, October 20th. They set a “neutral” rating and a $39.00 price objective on the stock. Royal Bank Of Canada upped their price target on Western Midstream Partners from $38.00 to $39.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 26th. Mizuho lifted 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. Morgan Stanley dropped 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 report on Tuesday, August 26th. Finally, Stifel Nicolaus set a $43.00 price objective on shares of Western Midstream Partners in a research report on Thursday, November 6th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $41.00.

Western Midstream Partners Price Performance

Shares of NYSE WES opened at $39.05 on Wednesday. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.30 and a quick ratio of 1.30. The firm has a market capitalization of $15.93 billion, a PE ratio of 12.02 and a beta of 1.14. Western Midstream Partners, LP has a 1-year low of $33.60 and a 1-year high of $43.33. The business’s fifty day moving average price is $38.45 and its two-hundred day moving average price is $38.63.

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

Western Midstream Partners Dividend Announcement

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

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.