Avalon Advisors LLC raised its holdings in shares of Western Midstream Partners LP (NYSE:WES) by 61.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 47,121 shares of the pipeline company’s stock after purchasing an additional 17,872 shares during the quarter. Avalon Advisors LLC’s holdings in Western Midstream Partners were worth $1,478,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Executive Wealth Management LLC bought a new position in Western Midstream Partners during the fourth quarter valued at $25,000. Ffcm LLC lifted its position in Western Midstream Partners by 50.0% during the fourth quarter. Ffcm LLC now owns 717 shares of the pipeline company’s stock valued at $30,000 after purchasing an additional 239 shares during the last quarter. Berman Capital Advisors LLC bought a new position in Western Midstream Partners during the fourth quarter valued at $33,000. Bessemer Group Inc. lifted its position in Western Midstream Partners by 61.0% during the fourth quarter. Bessemer Group Inc. now owns 800 shares of the pipeline company’s stock valued at $34,000 after purchasing an additional 303 shares during the last quarter. Finally, Winslow Evans & Crocker Inc. lifted its position in Western Midstream Partners by 52.6% during the first quarter. Winslow Evans & Crocker Inc. now owns 1,526 shares of the pipeline company’s stock valued at $48,000 after purchasing an additional 526 shares during the last quarter. Institutional investors and hedge funds own 42.58% of the company’s stock.
Several equities analysts have commented on WES shares. Zacks Investment Research lowered shares of Western Midstream Partners from a “buy” rating to a “hold” rating in a research report on Friday, February 22nd. ValuEngine upgraded shares of Western Midstream Partners from a “hold” rating to a “buy” rating in a research report on Tuesday, February 19th. Wells Fargo & Co reiterated a “hold” rating on shares of Western Midstream Partners in a research report on Tuesday, February 19th. Mitsubishi UFJ Financial Group lowered their price objective on shares of Western Midstream Partners from $55.00 to $42.00 and set an “overweight” rating for the company in a research report on Monday, April 15th. Finally, Citigroup reiterated a “buy” rating and set a $35.00 price objective on shares of Western Midstream Partners in a research report on Tuesday, April 9th. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Western Midstream Partners presently has an average rating of “Hold” and an average price target of $46.10.
Western Midstream Partners (NYSE:WES) last announced its earnings results on Thursday, February 14th. The pipeline company reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.65). Western Midstream Partners had a net margin of 19.06% and a return on equity of 11.72%. The firm had revenue of $557.79 million during the quarter, compared to analysts’ expectations of $521.78 million. During the same period in the prior year, the company posted $0.39 EPS. The company’s revenue was down 11.7% compared to the same quarter last year. On average, equities research analysts predict that Western Midstream Partners LP will post 2.15 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Wednesday, May 1st will be paid a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 7.31%. The ex-dividend date is Tuesday, April 30th. Western Midstream Partners’s dividend payout ratio is currently 96.02%.
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About Western Midstream Partners
Western Midstream Partners, LP, together with its subsidiaries, engages in gathering, processing, compressing, treating, stabilizing, and transporting natural gas, condensate, natural gas liquids, and crude oil primarily in the United States. It is also involved in the gathering and disposing of produced water; and buying and selling of natural gas.
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