Spirit of America Management Corp NY Trims Stock Position in Western Midstream Partners, LP (NYSE:WES)

Spirit of America Management Corp NY reduced its position in Western Midstream Partners, LP (NYSE:WES - Free Report) by 9.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 161,650 shares of the pipeline company's stock after selling 17,700 shares during the period. Western Midstream Partners accounts for about 1.3% of Spirit of America Management Corp NY's investment portfolio, making the stock its 22nd biggest position. Spirit of America Management Corp NY's holdings in Western Midstream Partners were worth $6,212,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Farther Finance Advisors LLC lifted its position in Western Midstream Partners by 287.3% during the third quarter. Farther Finance Advisors LLC now owns 1,437 shares of the pipeline company's stock valued at $55,000 after purchasing an additional 1,066 shares during the last quarter. Kieckhefer Group LLC bought a new position in shares of Western Midstream Partners in the 4th quarter valued at about $58,000. Avondale Wealth Management purchased a new position in Western Midstream Partners in the fourth quarter worth about $77,000. Cedar Mountain Advisors LLC increased its stake in Western Midstream Partners by 16.1% during the third quarter. Cedar Mountain Advisors LLC now owns 2,158 shares of the pipeline company's stock worth $83,000 after acquiring an additional 299 shares during the last quarter. Finally, Millburn Ridgefield Corp purchased a new stake in Western Midstream Partners during the third quarter valued at approximately $86,000. 84.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WES has been the subject of a number of analyst reports. Bank of America began coverage on 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. UBS Group cut their price target on shares of Western Midstream Partners from $40.00 to $37.00 and set a "neutral" rating on the stock in a report on Friday, November 15th. StockNews.com lowered Western Midstream Partners from a "strong-buy" rating to a "buy" rating in a research report on Monday, October 28th. Morgan Stanley cut Western Midstream Partners from an "equal weight" rating to an "underweight" rating and dropped their price objective for the company from $42.00 to $40.00 in a report on Friday, October 25th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $41.00 target price on shares of Western Midstream Partners in a research note on Monday, December 9th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $37.88.

Western Midstream Partners Stock Down 0.2 %

Shares of WES traded down $0.09 during midday trading on Friday, reaching $40.35. 713,880 shares of the stock were exchanged, compared to its average volume of 1,413,380. The company has a market capitalization of $15.36 billion, a P/E ratio of 10.29, a PEG ratio of 1.36 and a beta of 2.88. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.05. Western Midstream Partners, LP has a 52 week low of $27.87 and a 52 week high of $43.33. The company's 50 day moving average is $40.16 and its two-hundred day moving average is $39.12.

Western Midstream Partners (NYSE:WES - Get Free Report) last posted its earnings results on Wednesday, November 6th. The pipeline company reported $0.74 EPS for the quarter, missing analysts' consensus estimates of $0.83 by ($0.09). Western Midstream Partners had a net margin of 42.99% and a return on equity of 46.02%. The business had revenue of $883.36 million for the quarter, compared to analysts' expectations of $924.83 million. During the same period last year, the business posted $0.70 EPS. The company's revenue for the quarter was up 13.8% on a year-over-year basis. On average, sell-side analysts anticipate that Western Midstream Partners, LP will post 4.02 earnings per share for the current year.

Western Midstream Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be paid a dividend of $0.875 per share. The ex-dividend date is Monday, February 3rd. This represents a $3.50 annualized dividend and a yield of 8.67%. Western Midstream Partners's dividend payout ratio (DPR) is 89.29%.

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.