17,460 Shares in Western Midstream Partners, LP (NYSE:WES) Bought by Sanctuary Advisors LLC

Sanctuary Advisors LLC purchased a new position in Western Midstream Partners, LP (NYSE:WES - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 17,460 shares of the pipeline company's stock, valued at approximately $694,000.

Other large investors also recently bought and sold shares of the company. Eagle Bay Advisors LLC purchased a new stake in shares of Western Midstream Partners in the first quarter worth $29,000. American National Bank grew its position in Western Midstream Partners by 34.5% during the 1st quarter. American National Bank now owns 1,190 shares of the pipeline company's stock valued at $42,000 after purchasing an additional 305 shares during the last quarter. Retirement Group LLC increased its stake in Western Midstream Partners by 40.2% during the 1st quarter. Retirement Group LLC now owns 1,591 shares of the pipeline company's stock valued at $57,000 after purchasing an additional 456 shares in the last quarter. EverSource Wealth Advisors LLC bought a new stake in Western Midstream Partners during the 2nd quarter valued at about $74,000. Finally, Triad Wealth Partners LLC bought a new position in shares of Western Midstream Partners in the second quarter worth approximately $78,000. 42.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WES has been the subject of several analyst reports. UBS Group raised their price target on shares of Western Midstream Partners from $38.00 to $39.00 and gave the company a "neutral" rating in a research report on Wednesday, September 18th. Royal Bank of Canada lifted their target price on Western Midstream Partners from $36.00 to $38.00 and gave the stock a "sector perform" rating in a report on Tuesday, August 27th. StockNews.com downgraded Western Midstream Partners from a "strong-buy" rating to a "buy" rating in a report on Saturday. Morgan Stanley downgraded 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. Finally, Stifel Nicolaus boosted their target price on Western Midstream Partners from $39.00 to $40.00 and gave the stock a "hold" rating in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, Western Midstream Partners presently has an average rating of "Hold" and an average target price of $36.75.

Insider Buying and Selling at Western Midstream Partners

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the firm'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 transaction, the insider now owns 165,681,578 shares of the company's stock, valued at $5,923,116,413.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.04% of the stock is currently owned by corporate insiders.

Western Midstream Partners Stock Performance

Shares of NYSE WES traded down $0.37 during midday trading on Monday, hitting $39.42. 1,305,237 shares of the company's stock traded hands, compared to its average volume of 1,217,380. The firm has a fifty day moving average of $38.62 and a 200 day moving average of $38.19. Western Midstream Partners, LP has a 1 year low of $26.49 and a 1 year high of $42.80. 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 stock has a market capitalization of $15.00 billion, a price-to-earnings ratio of 11.10, a price-to-earnings-growth ratio of 0.74 and a beta of 2.87.

Western Midstream Partners (NYSE:WES - Get Free Report) last announced its earnings results on Wednesday, August 7th. The pipeline company reported $0.97 EPS for the quarter, beating analysts' consensus estimates of $0.88 by $0.09. Western Midstream Partners had a net margin of 44.01% and a return on equity of 47.19%. 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 prior year, the company earned $0.64 earnings per share. The firm's revenue was up 22.7% on a year-over-year basis. On average, analysts forecast that Western Midstream Partners, LP will post 4.16 earnings per share for the current year.

Western Midstream Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 1st were given a dividend of $0.875 per share. The ex-dividend date was Thursday, August 1st. This represents a $3.50 annualized dividend and a yield of 8.88%. Western Midstream Partners's dividend payout ratio (DPR) is presently 98.59%.

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.