New Capital Management LP Increases Stake in Western Midstream Partners LP (NYSE:WES)

New Capital Management LP lifted its position in Western Midstream Partners LP (NYSE:WES) by 52.5% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,646 shares of the pipeline company’s stock after purchasing an additional 911 shares during the period. New Capital Management LP’s holdings in Western Midstream Partners were worth $83,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. BlackRock Inc. grew its stake in shares of Western Midstream Partners by 2.0% during the 3rd quarter. BlackRock Inc. now owns 728,342 shares of the pipeline company’s stock valued at $31,814,000 after purchasing an additional 13,952 shares during the period. Duff & Phelps Investment Management Co. lifted its position in shares of Western Midstream Partners by 1.4% during the 4th quarter. Duff & Phelps Investment Management Co. now owns 783,800 shares of the pipeline company’s stock valued at $33,100,000 after buying an additional 10,800 shares in the last quarter. Fort Washington Investment Advisors Inc. OH lifted its position in shares of Western Midstream Partners by 181.2% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 85,613 shares of the pipeline company’s stock valued at $3,615,000 after buying an additional 55,163 shares in the last quarter. Deutsche Bank AG lifted its position in shares of Western Midstream Partners by 79.7% during the 4th quarter. Deutsche Bank AG now owns 429,616 shares of the pipeline company’s stock valued at $18,140,000 after buying an additional 190,589 shares in the last quarter. Finally, IndexIQ Advisors LLC purchased a new position in shares of Western Midstream Partners during the 4th quarter valued at about $8,415,000. 42.58% of the stock is owned by institutional investors.

A number of research analysts have recently weighed in on WES shares. Zacks Investment Research raised Western Midstream Partners from a “sell” rating to a “hold” rating in a research report on Saturday, January 12th. ValuEngine cut Western Midstream Partners from a “buy” rating to a “hold” rating in a report on Tuesday, February 5th. M Partners boosted their price target on Western Midstream Partners from $42.00 to $55.00 and gave the stock a “neutral” rating in a report on Friday, February 15th. Wells Fargo & Co reissued a “hold” rating on shares of Western Midstream Partners in a report on Tuesday, February 19th. Finally, Barclays assumed coverage on Western Midstream Partners in a report on Friday, March 22nd. They issued an “equal weight” rating and a $34.00 price target on the stock. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. Western Midstream Partners has an average rating of “Hold” and a consensus price target of $46.10.

Shares of WES opened at $29.81 on Friday. The company has a market cap of $6.29 billion, a PE ratio of 11.88, a PEG ratio of 2.14 and a beta of 1.53. Western Midstream Partners LP has a 1 year low of $25.89 and a 1 year high of $38.62. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.13 and a current ratio of 0.13.

Western Midstream Partners (NYSE:WES) last issued its quarterly earnings data on Tuesday, April 30th. The pipeline company reported $0.30 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by ($0.17). The firm had revenue of $671.88 million for the quarter, compared to analysts’ expectations of $622.45 million. Western Midstream Partners had a return on equity of 11.61% and a net margin of 16.47%. The firm’s revenue was up 34.1% on a year-over-year basis. During the same period last year, the company earned $0.46 earnings per share. As a group, equities analysts forecast that Western Midstream Partners LP will post 2.24 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Wednesday, May 1st will be given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 8.19%. The ex-dividend date is Tuesday, April 30th. Western Midstream Partners’s dividend payout ratio is currently 97.21%.

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Western Midstream Partners Company Profile

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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Institutional Ownership by Quarter for Western Midstream Partners (NYSE:WES)

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