Infrastructure Capital Advisors LLC Has $54.03 Million Holdings in Western Midstream Partners, LP (NYSE:WES)

Infrastructure Capital Advisors LLC reduced its stake in Western Midstream Partners, LP (NYSE:WES - Free Report) by 10.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,412,125 shares of the pipeline company's stock after selling 158,808 shares during the quarter. Western Midstream Partners comprises approximately 7.3% of Infrastructure Capital Advisors LLC's holdings, making the stock its 6th largest position. Infrastructure Capital Advisors LLC owned 0.37% of Western Midstream Partners worth $54,028,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in WES. Farther Finance Advisors LLC increased its stake in Western Midstream Partners by 287.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,437 shares of the pipeline company's stock valued at $55,000 after purchasing an additional 1,066 shares in the last quarter. EverSource Wealth Advisors LLC purchased a new stake in shares of Western Midstream Partners during the second quarter valued at approximately $74,000. Triad Wealth Partners LLC bought a new stake in shares of Western Midstream Partners during the second quarter valued at approximately $78,000. Cedar Mountain Advisors LLC raised its holdings in Western Midstream Partners by 16.1% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 2,158 shares of the pipeline company's stock worth $83,000 after acquiring an additional 299 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. lifted its position in Western Midstream Partners by 63.9% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 2,566 shares of the pipeline company's stock valued at $102,000 after acquiring an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 42.94% of the company's stock.

Western Midstream Partners Stock Performance

NYSE WES traded up $1.12 during trading hours on Friday, hitting $40.75. 1,706,585 shares of the company's stock traded hands, compared to its average volume of 1,246,120. Western Midstream Partners, LP has a 52 week low of $26.81 and a 52 week high of $42.80. The firm has a market capitalization of $15.51 billion, a P/E ratio of 10.11, a P/E/G ratio of 1.07 and a beta of 2.88. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.05. The business's fifty day moving average price is $38.29 and its two-hundred day moving average price is $38.73.

Western Midstream Partners (NYSE:WES - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.74 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.83 by ($0.09). The business had revenue of $883.36 million for the quarter, compared to the consensus estimate of $924.83 million. Western Midstream Partners had a net margin of 42.99% and a return on equity of 46.02%. The company's revenue was up 13.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.70 EPS. Equities research analysts predict that Western Midstream Partners, LP will post 4.05 EPS for the current year.

Western Midstream Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were paid a $0.875 dividend. This represents a $3.50 annualized dividend and a dividend yield of 8.59%. The ex-dividend date was Friday, November 1st. Western Midstream Partners's dividend payout ratio (DPR) is currently 89.29%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on WES. US Capital Advisors raised Western Midstream Partners from a "hold" rating to a "moderate buy" rating in a report on Tuesday. StockNews.com downgraded Western Midstream Partners from a "strong-buy" rating to a "buy" rating in a report on Monday, October 28th. Bank of America started coverage on Western Midstream Partners in a research report on Thursday, October 17th. They issued an "underperform" rating and a $37.00 target price for the company. Morgan Stanley downgraded shares of Western Midstream Partners from an "equal weight" rating to an "underweight" rating and dropped their price target for the company from $42.00 to $40.00 in a report on Friday, October 25th. Finally, Royal Bank of Canada lifted their price target on shares of Western Midstream Partners from $38.00 to $41.00 and gave the stock a "sector perform" rating in a research note on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Western Midstream Partners has a consensus rating of "Hold" and a consensus price target of $37.88.

About Western Midstream Partners

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.