Requisite Capital Management LLC Sells 766 Shares of Western Midstream Partners, LP (NYSE:WES)

Requisite Capital Management LLC cut its holdings in shares of Western Midstream Partners, LP (NYSE:WES) by 2.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,720 shares of the pipeline company’s stock after selling 766 shares during the period. Western Midstream Partners makes up approximately 0.3% of Requisite Capital Management LLC’s investment portfolio, making the stock its 22nd largest holding. Requisite Capital Management LLC’s holdings in Western Midstream Partners were worth $1,299,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Apollon Wealth Management LLC grew its holdings in shares of Western Midstream Partners by 1.2% during the fourth quarter. Apollon Wealth Management LLC now owns 25,691 shares of the pipeline company’s stock worth $987,000 after buying an additional 295 shares in the last quarter. Empowered Funds LLC bought a new position in shares of Western Midstream Partners during the fourth quarter worth about $53,000. Van ECK Associates Corp grew its holdings in shares of Western Midstream Partners by 39.2% during the fourth quarter. Van ECK Associates Corp now owns 42,612 shares of the pipeline company’s stock worth $1,638,000 after buying an additional 11,996 shares in the last quarter. Autumn Glory Partners LLC bought a new position in shares of Western Midstream Partners during the fourth quarter worth about $652,000. Finally, Americana Partners LLC grew its holdings in shares of Western Midstream Partners by 4.7% during the fourth quarter. Americana Partners LLC now owns 149,581 shares of the pipeline company’s stock worth $5,748,000 after buying an additional 6,699 shares in the last quarter. Institutional investors and hedge funds own 84.82% of the company’s stock.

Western Midstream Partners Price Performance

Shares of NYSE WES opened at $37.36 on Tuesday. The business’s 50 day moving average price is $37.73 and its two-hundred day moving average price is $39.40. The company has a market cap of $14.25 billion, a PE ratio of 9.53, a price-to-earnings-growth ratio of 1.40 and a beta of 1.09. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.05. Western Midstream Partners, LP has a twelve month low of $33.60 and a twelve month high of $43.33.

Western Midstream Partners (NYSE:WES) last announced its quarterly earnings results on Wednesday, May 7th. The pipeline company reported $0.79 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.04). The business had revenue of $917.12 million for the quarter, compared to analyst estimates of $926.55 million. Western Midstream Partners had a return on equity of 46.02% and a net margin of 42.99%. Western Midstream Partners’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the firm earned $1.47 EPS. On average, analysts predict that Western Midstream Partners, LP will post 4.02 EPS for the current year.

Western Midstream Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Friday, May 2nd were given a $0.91 dividend. This is an increase from Western Midstream Partners’s previous quarterly dividend of $0.88. The ex-dividend date was Friday, May 2nd. This represents a $3.64 annualized dividend and a dividend yield of 9.74%. Western Midstream Partners’s dividend payout ratio is presently 108.66%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Wall Street Zen upgraded Western Midstream Partners from a “hold” rating to a “buy” rating in a report on Saturday, March 8th. Mizuho lowered their target price on Western Midstream Partners from $45.00 to $44.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 20th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Western Midstream Partners currently has a consensus rating of “Hold” and an average target price of $39.83.

About Western Midstream Partners

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.