BWM Planning LLC Purchases Shares of 28,325 Western Midstream Partners, LP (NYSE:WES)

BWM Planning LLC bought a new stake in shares of Western Midstream Partners, LP (NYSE:WES - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 28,325 shares of the pipeline company's stock, valued at approximately $1,084,000.

Other hedge funds also recently modified their holdings of the company. GSA Capital Partners LLP bought a new stake in Western Midstream Partners during the first quarter worth $1,967,000. DRW Securities LLC bought a new stake in Western Midstream Partners during the fourth quarter worth $1,550,000. BNP Paribas Financial Markets lifted its holdings in Western Midstream Partners by 174.3% during the first quarter. BNP Paribas Financial Markets now owns 417,302 shares of the pipeline company's stock worth $14,835,000 after acquiring an additional 265,143 shares during the period. Miller Howard Investments Inc. NY lifted its holdings in Western Midstream Partners by 3.2% during the first quarter. Miller Howard Investments Inc. NY now owns 1,418,703 shares of the pipeline company's stock worth $50,435,000 after acquiring an additional 44,176 shares during the period. Finally, Highland Capital Management LLC bought a new stake in Western Midstream Partners during the second quarter worth $516,000. Hedge funds and other institutional investors own 42.94% of the company's stock.

Insider Transactions at Western Midstream Partners

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the company's stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total value 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.04% of the company's stock.

Western Midstream Partners Price Performance

Western Midstream Partners stock traded up $0.37 during midday trading on Friday, hitting $39.79. 465,282 shares of the company's stock were exchanged, compared to its average volume of 1,216,923. Western Midstream Partners, LP has a 52-week low of $26.49 and a 52-week high of $42.80. The stock has a 50-day moving average price of $38.58 and a two-hundred day moving average price of $38.12. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.68 and a current ratio of 1.68. The company has a market cap of $15.14 billion, a P/E ratio of 10.26, a PEG ratio of 0.75 and a beta of 2.87.

Western Midstream Partners (NYSE:WES - Get Free Report) last posted its earnings results on Wednesday, August 7th. The pipeline company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.88 by $0.09. Western Midstream Partners had a return on equity of 47.19% and a net margin of 44.01%. The business had revenue of $905.63 million during the quarter, compared to analysts' expectations of $904.94 million. During the same period in the previous year, the business earned $0.64 earnings per share. The firm's revenue was up 22.7% on a year-over-year basis. On average, equities research analysts forecast 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 disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st were issued a $0.875 dividend. This represents a $3.50 dividend on an annualized basis and a dividend yield of 8.80%. The ex-dividend date was Thursday, August 1st. Western Midstream Partners's payout ratio is currently 90.21%.

Analyst Ratings Changes

Several brokerages have issued reports on WES. Morgan Stanley lowered 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 note on Monday, September 16th. UBS Group boosted their target price on Western Midstream Partners from $38.00 to $39.00 and gave the company a "neutral" rating in a research note on Wednesday, September 18th. Stifel Nicolaus boosted their target price on Western Midstream Partners from $39.00 to $40.00 and gave the company a "hold" rating in a research note on Friday, August 9th. StockNews.com upgraded Western Midstream Partners from a "buy" rating to a "strong-buy" rating in a research note on Friday, October 4th. Finally, Royal Bank of Canada boosted their target price on Western Midstream Partners from $36.00 to $38.00 and gave the company a "sector perform" rating in a research note on Tuesday, August 27th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $36.75.

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.