Western Midstream Partners, LP (NYSE:WES) Shares Sold by Chickasaw Capital Management LLC

Chickasaw Capital Management LLC lessened its stake in shares of Western Midstream Partners, LP (NYSE:WES - Free Report) by 0.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,655,869 shares of the pipeline company's stock after selling 55,137 shares during the quarter. Western Midstream Partners accounts for 10.9% of Chickasaw Capital Management LLC's investment portfolio, making the stock its 2nd biggest position. Chickasaw Capital Management LLC owned 1.75% of Western Midstream Partners worth $254,654,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Jennison Associates LLC increased its stake in Western Midstream Partners by 96.0% during the 1st quarter. Jennison Associates LLC now owns 1,928,179 shares of the pipeline company's stock worth $68,547,000 after buying an additional 944,494 shares during the period. Kayne Anderson Capital Advisors LP increased its position in shares of Western Midstream Partners by 27.4% during the first quarter. Kayne Anderson Capital Advisors LP now owns 4,165,829 shares of the pipeline company's stock worth $148,095,000 after acquiring an additional 895,715 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Western Midstream Partners by 174.3% in 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 in the last quarter. Blackstone Inc. boosted its holdings in Western Midstream Partners by 2.0% in the first quarter. Blackstone Inc. now owns 12,980,724 shares of the pipeline company's stock valued at $461,465,000 after purchasing an additional 259,928 shares during the last quarter. Finally, BROOKFIELD Corp ON grew its stake in Western Midstream Partners by 2.7% during the 1st quarter. BROOKFIELD Corp ON now owns 2,953,510 shares of the pipeline company's stock valued at $104,997,000 after purchasing an additional 77,942 shares in the last quarter. Hedge funds and other institutional investors own 42.94% of the company's stock.

Analyst Ratings Changes

WES has been the topic of a number of recent analyst reports. UBS Group upped their target price on Western Midstream Partners from $38.00 to $39.00 and gave the company a "neutral" rating in a research report on Wednesday, September 18th. StockNews.com downgraded shares of Western Midstream Partners from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Stifel Nicolaus boosted their target price on shares of Western Midstream Partners from $39.00 to $40.00 and gave the stock a "hold" rating in a research report on Friday, August 9th. Royal Bank of Canada increased their price target on shares of Western Midstream Partners from $36.00 to $38.00 and gave the stock a "sector perform" rating in a research report on Tuesday, August 27th. Finally, Morgan Stanley lowered Western Midstream Partners from an "overweight" rating to an "equal weight" rating and set a $42.00 price objective for the company. in a report on Monday, September 16th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $36.75.

Western Midstream Partners Stock Performance

NYSE WES traded up $0.37 during trading hours on Friday, reaching $39.79. The company's stock had a trading volume of 467,545 shares, compared to its average volume of 834,190. The stock has a market cap of $15.14 billion, a PE ratio of 10.26, a PEG ratio of 0.74 and a beta of 2.87. The business has a 50-day simple moving average of $38.58 and a 200 day simple moving average of $38.14. Western Midstream Partners, LP has a 52 week low of $26.49 and a 52 week high of $42.80. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.08.

Western Midstream Partners (NYSE:WES - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.97 EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $905.63 million during the quarter, compared to the consensus estimate of $904.94 million. During the same period in the prior year, the business earned $0.64 EPS. The firm's revenue was up 22.7% on a year-over-year basis. Equities research analysts predict that Western Midstream Partners, LP will post 4.16 earnings per share for the current fiscal year.

Western Midstream Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st were paid a dividend of $0.875 per share. This represents a $3.50 dividend on an annualized basis and a yield of 8.80%. The ex-dividend date of this dividend was Thursday, August 1st. Western Midstream Partners's payout ratio is 90.21%.

Insiders Place Their Bets

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of Western Midstream Partners 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 sale, the insider now owns 165,681,578 shares of the company's stock, valued at approximately $5,923,116,413.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.04% of the stock is owned by insiders.

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.