Western Midstream Partners, LP (NYSE:WES) Shares Bought by CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its holdings in Western Midstream Partners, LP (NYSE:WES - Free Report) by 10.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,315,472 shares of the pipeline company's stock after acquiring an additional 120,202 shares during the period. Western Midstream Partners comprises approximately 3.7% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's portfolio, making the stock its 13th largest position. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned 0.35% of Western Midstream Partners worth $50,330,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. GSA Capital Partners LLP acquired a new position in shares of Western Midstream Partners in the first quarter worth $1,967,000. BNP Paribas Financial Markets grew its stake in shares of 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 purchasing an additional 265,143 shares in the last quarter. Highland Capital Management LLC acquired a new position in shares of Western Midstream Partners during the second quarter worth $516,000. Raymond James & Associates grew its stake in shares of Western Midstream Partners by 30.2% during the second quarter. Raymond James & Associates now owns 103,883 shares of the pipeline company's stock worth $4,127,000 after purchasing an additional 24,072 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of Western Midstream Partners by 113.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 30,722 shares of the pipeline company's stock worth $1,221,000 after purchasing an additional 16,304 shares in the last quarter. Institutional investors and hedge funds 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 business's stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the transaction, the insider now directly owns 165,681,578 shares in the company, valued at $5,923,116,413.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.04% of the company's stock.

Western Midstream Partners Stock Performance

Shares of NYSE:WES traded down $0.01 on Tuesday, reaching $38.31. The company's stock had a trading volume of 549,784 shares, compared to its average volume of 1,209,658. The stock's 50-day moving average is $38.59 and its two-hundred day moving average is $38.29. Western Midstream Partners, LP has a 52-week low of $26.49 and a 52-week high of $42.80. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.68 and a quick ratio of 1.68. The stock has a market capitalization of $14.58 billion, a P/E ratio of 10.80, a PEG ratio of 0.73 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 business's revenue was up 22.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Western Midstream Partners, LP will post 4.13 EPS for the current year.

Western Midstream Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Friday, November 1st will be paid a dividend of $0.875 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $3.50 dividend on an annualized basis and a dividend yield of 9.14%. Western Midstream Partners's dividend payout ratio (DPR) is 98.59%.

Analyst Upgrades and Downgrades

WES has been the subject of a number of analyst reports. UBS Group boosted their target price on shares of Western Midstream Partners from $38.00 to $39.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 18th. Bank of America assumed coverage on shares of Western Midstream Partners in a research report on Thursday, October 17th. They issued an "underperform" rating and a $37.00 price target for the company. Royal Bank of Canada boosted their price target on shares of Western Midstream Partners from $38.00 to $41.00 and gave the company a "sector perform" rating in a research report on Wednesday, October 16th. Stifel Nicolaus boosted 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, Morgan Stanley cut shares of Western Midstream Partners from an "overweight" rating to an "equal weight" rating and set a $42.00 price target for the company. in a research report on Monday, September 16th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $38.38.

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.