Western Midstream Partners, LP $WES Stock Holdings Cut by Hardy Reed LLC

Hardy Reed LLC lessened its position in Western Midstream Partners, LP (NYSE:WES) by 28.6% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,450 shares of the pipeline company’s stock after selling 5,400 shares during the period. Hardy Reed LLC’s holdings in Western Midstream Partners were worth $521,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of WES. Baldwin Wealth Partners LLC MA acquired a new position in Western Midstream Partners during the first quarter worth about $205,000. Daymark Wealth Partners LLC raised its holdings in shares of Western Midstream Partners by 8.6% in the 1st quarter. Daymark Wealth Partners LLC now owns 45,506 shares of the pipeline company’s stock worth $1,864,000 after purchasing an additional 3,605 shares in the last quarter. Sonora Investment Management Group LLC acquired a new position in Western Midstream Partners in the first quarter worth approximately $205,000. Fort Washington Investment Advisors Inc. OH grew its position in Western Midstream Partners by 254.3% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 29,180 shares of the pipeline company’s stock worth $1,195,000 after buying an additional 20,943 shares during the last quarter. Finally, F&V Capital Management LLC increased its holdings in shares of Western Midstream Partners by 13.1% in the first quarter. F&V Capital Management LLC now owns 9,050 shares of the pipeline company’s stock valued at $371,000 after buying an additional 1,050 shares in the last quarter. Institutional investors and hedge funds own 84.82% of the company’s stock.

Analyst Upgrades and Downgrades

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

Western Midstream Partners Trading Down 1.7%

Western Midstream Partners stock opened at $37.97 on Tuesday. The company’s fifty day simple moving average is $38.73 and its 200-day simple moving average is $38.62. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 2.08. Western Midstream Partners, LP has a 12 month low of $33.60 and a 12 month high of $43.33. The stock has a market cap of $14.48 billion, a P/E ratio of 11.68 and a beta of 1.12.

Western Midstream Partners (NYSE:WES) last announced its quarterly earnings data on Wednesday, August 6th. The pipeline company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.05. Western Midstream Partners had a return on equity of 37.70% and a net margin of 34.45%.The business had revenue of $942.32 million during the quarter, compared to analyst estimates of $954.17 million. During the same period last year, the company earned $0.97 earnings per share. Western Midstream Partners’s quarterly revenue was up 4.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Western Midstream Partners, LP will post 4.02 EPS for the current fiscal year.

Western Midstream Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Friday, August 1st were paid a $0.91 dividend. The ex-dividend date was Friday, August 1st. This represents a $3.64 dividend on an annualized basis and a yield of 9.6%. Western Midstream Partners’s payout ratio is 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.