1 week Ago By ABMN Staff
Farmers & Merchants Investments Inc. increased its holdings in Western Midstream Partners, LP ( NYSE:WES – Free Report ) by 63.9% during the second quarter, according to its most recent disclosure with the SEC.
The institutional investor owned 2,566 shares of the pipeline company’s stock after buying an additional 1,000 shares during the period. Farmers & Merchants Investments Inc.’s holdings in Western Midstream Partners were worth $102,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. American National Bank boosted its position in shares of 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 acquiring an additional 305 shares during the last quarter. Albert D Mason Inc. grew its stake in Western Midstream Partners by 0.
7% in the 2nd quarter. Albert D Mason Inc. now owns 48,760 shares of the pipeline company’s stock worth $1,937,000 after buying an additional 333 shares in the last quarter.
Belfer Management LLC grew its stake in Western Midstream Partners by 4.4% in the 1st quarter. Belfer Management LLC now owns 9,957 shares of the pipeline company’s stock worth $354,000 after buying an additional 418 shares in the last quarter.
Retirement Group LLC raised its position in shares of 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 buying an additional 456 shares in the last quarter.
Finally, B. Riley Wealth Advisors Inc. lifted its holdings in shares of Western Midstream Partners by 1.
7% during the 1st quarter. B. Riley Wealth Advisors Inc.
now owns 34,109 shares of the pipeline company’s stock worth $1,213,000 after acquiring an additional 554 shares during the last quarter. Institutional investors own 42.94% of the company’s stock.
Wall Street Analysts Forecast Growth A number of research firms have weighed in on WES. Royal Bank of Canada raised their price target on Western Midstream Partners from $36.00 to $38.
00 and gave the company a “sector perform” rating in a research report on Tuesday, August 27th. 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. Wells Fargo & Company increased their price target on shares of Western Midstream Partners from $34.00 to $35.
00 and gave the company an “equal weight” rating in a research report on Tuesday, May 21st. Finally, StockNews.com upgraded shares of Western Midstream Partners from a “buy” rating to a “strong-buy” rating in a report on Tuesday, September 3rd.
One research analyst has rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $34.
38. Western Midstream Partners Trading Down 0.2 % Shares of WES opened at $37.
76 on Friday. The firm has a fifty day simple moving average of $39.62 and a two-hundred day simple moving average of $37.
29. Western Midstream Partners, LP has a twelve month low of $25.69 and a twelve month high of $42.
80. The stock has a market capitalization of $14.37 billion, a P/E ratio of 10.
64, a PEG ratio of 0.71 and a beta of 2.87.
The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.
08. Western Midstream Partners ( NYSE:WES – Get Free Report ) last announced its quarterly earnings results on Wednesday, August 7th. The pipeline company reported $0.
97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.09.
Western Midstream Partners had a return on equity of 47.19% and a net margin of 44.01%.
The company had revenue of $905.63 million for the quarter, compared to the consensus estimate of $904.94 million.
During the same quarter in the previous year, the business earned $0.64 EPS. Western Midstream Partners’s revenue was up 22.
7% compared to the same quarter last year. On average, research analysts anticipate that Western Midstream Partners, LP will post 4.16 EPS for the current year.
Western Midstream Partners Dividend Announcement The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 1st were paid a $0.875 dividend.
This represents a $3.50 dividend on an annualized basis and a yield of 9.27%.
The ex-dividend date was Thursday, August 1st. Western Midstream Partners’s payout ratio is 98.59%.
Insider Activity 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 shares were sold at an average price of $35.75, for a total value of $697,125,000.
00. Following the completion of the sale, the insider now directly owns 165,681,578 shares of the company’s stock, valued at approximately $5,923,116,413.50.
The transaction was disclosed in a filing with the SEC, which is available at the SEC website . 0.04% of the stock is currently owned by company insiders.
About Western Midstream Partners ( Free Report ) 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. Read More Receive News & Ratings for Western Midstream Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Midstream Partners and related companies with MarketBeat.
com's FREE daily email newsletter ..
