McElhenny Sheffield Capital Management LLC bought a new position in shares of Western Midstream Partners, LP (NYSE:WES – Get Rating) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 4,575 shares of the pipeline company’s stock, valued at approximately $123,000.
A number of other hedge funds have also recently bought and sold shares of WES. Clearbridge Investments LLC boosted its position in shares of Western Midstream Partners by 14.2% in the 1st quarter. Clearbridge Investments LLC now owns 5,012,565 shares of the pipeline company’s stock valued at $126,417,000 after purchasing an additional 623,000 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Western Midstream Partners by 6.4% in the 2nd quarter. Goldman Sachs Group Inc. now owns 8,345,798 shares of the pipeline company’s stock valued at $202,887,000 after purchasing an additional 500,806 shares during the period. Energy Income Partners LLC acquired a new position in shares of Western Midstream Partners in the 3rd quarter valued at $11,992,000. Wells Fargo & Company MN boosted its position in shares of Western Midstream Partners by 23.2% in the 2nd quarter. Wells Fargo & Company MN now owns 1,816,295 shares of the pipeline company’s stock valued at $44,155,000 after purchasing an additional 341,910 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its position in shares of Western Midstream Partners by 233.4% in the 1st quarter. BNP Paribas Arbitrage SA now owns 426,301 shares of the pipeline company’s stock valued at $10,751,000 after purchasing an additional 298,439 shares during the period. 91.96% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities analysts recently weighed in on WES shares. Barclays increased their price target on Western Midstream Partners from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Wednesday, January 18th. JPMorgan Chase & Co. decreased their price objective on Western Midstream Partners from $35.00 to $33.00 and set an “overweight” rating for the company in a research report on Monday, January 23rd. Morgan Stanley raised their price objective on Western Midstream Partners from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Monday, January 9th. Citigroup decreased their price objective on Western Midstream Partners from $33.00 to $32.00 and set a “buy” rating for the company in a research report on Monday, February 27th. Finally, StockNews.com began coverage on Western Midstream Partners in a research report on Thursday. They set a “buy” rating for the company. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $34.00.
Western Midstream Partners Stock Up 0.4 %
Western Midstream Partners (NYSE:WES – Get Rating) last announced its quarterly earnings results on Wednesday, February 22nd. The pipeline company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.13. The business had revenue of $779.40 million during the quarter, compared to analyst estimates of $800.50 million. Western Midstream Partners had a return on equity of 38.15% and a net margin of 37.22%. The firm’s revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.58 EPS. On average, equities research analysts expect that Western Midstream Partners, LP will post 2.89 earnings per share for the current fiscal year.
Western Midstream Partners Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, February 13th. Stockholders of record on Wednesday, February 1st were issued a dividend of $0.50 per share. The ex-dividend date was Tuesday, January 31st. This represents a $2.00 annualized dividend and a dividend yield of 7.90%. Western Midstream Partners’s dividend payout ratio is 66.67%.
About Western Midstream Partners
Western Midstream Partners LP engages in the ownership, operation, acquisition, and development of midstream energy assets. It engages in the business of gathering, processing, compressing, treating, and transporting natural gas, condensate, natural gas liquids, and crude oil for Anadarko, as well as third-party producers and customers.
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