Western Midstream Partners, LP (NYSE:WES) Stock Position Lessened by NBW Capital LLC

NBW Capital LLC reduced its stake in Western Midstream Partners, LP (NYSE:WES - Free Report) by 6.1% during the second quarter, according to its most recent filing with the SEC. The fund owned 302,331 shares of the pipeline company's stock after selling 19,601 shares during the quarter. Western Midstream Partners accounts for approximately 2.4% of NBW Capital LLC's portfolio, making the stock its 7th largest holding. NBW Capital LLC owned 0.08% of Western Midstream Partners worth $12,012,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in WES. Sfmg LLC purchased a new stake in Western Midstream Partners during the second quarter valued at about $205,000. EverSource Wealth Advisors LLC purchased a new stake in shares of Western Midstream Partners in the second quarter worth about $74,000. Holderness Investments Co. bought a new position in shares of Western Midstream Partners in the second quarter valued at approximately $316,000. Summit Trail Advisors LLC increased its holdings in Western Midstream Partners by 13.0% during the 2nd quarter. Summit Trail Advisors LLC now owns 8,016 shares of the pipeline company's stock worth $318,000 after acquiring an additional 920 shares during the period. Finally, Inspire Investing LLC bought a new position in shares of Western Midstream Partners during the 2nd quarter valued at about $810,000. Institutional investors own 42.94% of the company's stock.

Insider Buying and Selling at Western Midstream Partners

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the completion of the transaction, the insider now directly owns 165,681,578 shares in the company, valued at approximately $5,923,116,413.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.04% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have issued reports on WES shares. UBS Group upped their target price on Western Midstream Partners from $38.00 to $39.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 18th. StockNews.com cut shares of Western Midstream Partners from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, September 17th. Morgan Stanley cut shares of Western Midstream Partners from an "overweight" rating to an "equal weight" rating and set a $42.00 target price on the stock. in a research report on Monday, September 16th. Stifel Nicolaus upped their price target on shares of Western Midstream Partners from $39.00 to $40.00 and gave the company a "hold" rating in a research report on Friday, August 9th. Finally, Royal Bank of Canada lifted their price target on Western Midstream Partners from $36.00 to $38.00 and gave the stock a "sector perform" rating in a research note on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $36.75.

Western Midstream Partners Stock Performance

Western Midstream Partners stock traded down $0.02 during midday trading on Wednesday, reaching $39.01. 598,892 shares of the company traded hands, compared to its average volume of 1,251,798. The business has a 50 day moving average of $39.05 and a two-hundred day moving average of $37.77. The firm has a market capitalization of $14.84 billion, a price-to-earnings ratio of 10.99, a price-to-earnings-growth ratio of 0.74 and a beta of 2.87. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.68 and a quick ratio of 1.68. Western Midstream Partners, LP has a 12 month low of $26.14 and a 12 month high of $42.80.

Western Midstream Partners (NYSE:WES - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The pipeline company reported $0.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.88 by $0.09. The business had revenue of $905.63 million during the quarter, compared to the consensus estimate of $904.94 million. Western Midstream Partners had a return on equity of 47.19% and a net margin of 44.01%. The business's quarterly revenue was up 22.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.64 EPS. As a group, research analysts predict that Western Midstream Partners, LP will post 4.16 earnings per share for the current year.

Western Midstream Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 1st were given a $0.875 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $3.50 dividend on an annualized basis and a dividend yield of 8.97%. Western Midstream Partners's dividend payout ratio is currently 98.59%.

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.