Sfmg LLC Invests $322,000 in Western Midstream Partners, LP (NYSE:WES)

Sfmg LLC acquired a new position in Western Midstream Partners, LP (NYSE:WES) in the first quarter, HoldingsChannel.com reports. The institutional investor acquired 7,858 shares of the pipeline company’s stock, valued at approximately $322,000.

A number of other hedge funds have also recently made changes to their positions in WES. Integrated Wealth Concepts LLC boosted its stake in Western Midstream Partners by 4.7% during the fourth quarter. Integrated Wealth Concepts LLC now owns 6,833 shares of the pipeline company’s stock valued at $263,000 after buying an additional 306 shares during the last quarter. Virtus ETF Advisers LLC boosted its stake in Western Midstream Partners by 7.3% during the fourth quarter. Virtus ETF Advisers LLC now owns 4,564 shares of the pipeline company’s stock valued at $175,000 after buying an additional 311 shares during the last quarter. RE Dickinson Investment Advisors LLC boosted its stake in Western Midstream Partners by 21.8% during the fourth quarter. RE Dickinson Investment Advisors LLC now owns 2,168 shares of the pipeline company’s stock valued at $83,000 after buying an additional 388 shares during the last quarter. Princeton Global Asset Management LLC boosted its stake in Western Midstream Partners by 133.3% during the first quarter. Princeton Global Asset Management LLC now owns 700 shares of the pipeline company’s stock valued at $29,000 after buying an additional 400 shares during the last quarter. Finally, Apollon Wealth Management LLC boosted its stake in Western Midstream Partners by 1.6% during the first quarter. Apollon Wealth Management LLC now owns 26,113 shares of the pipeline company’s stock valued at $1,070,000 after buying an additional 422 shares during the last quarter. Institutional investors own 84.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Mizuho decreased their price objective 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 research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $39.83.

Western Midstream Partners Trading Up 1.5%

Shares of NYSE WES opened at $39.99 on Tuesday. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.18 and a current ratio of 1.18. The business’s 50 day moving average price is $39.00 and its 200-day moving average price is $39.32. Western Midstream Partners, LP has a fifty-two week low of $33.60 and a fifty-two week high of $43.33. The company has a market cap of $15.25 billion, a price-to-earnings ratio of 11.94 and a beta of 1.13.

Western Midstream Partners (NYSE:WES) last issued its quarterly earnings results on Wednesday, May 7th. The pipeline company reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.04). Western Midstream Partners had a return on equity of 38.52% and a net margin of 35.79%. The business had revenue of $917.12 million during the quarter, compared to analysts’ expectations of $926.55 million. During the same quarter in the previous year, the company posted $1.47 earnings per share. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, sell-side analysts expect that Western Midstream Partners, LP will post 4.02 earnings per share for the current year.

Western Midstream Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Friday, August 1st will be paid a $0.91 dividend. The ex-dividend date of this dividend is Friday, August 1st. This represents a $3.64 annualized dividend and a yield of 9.1%. Western Midstream Partners’s dividend payout ratio is 108.66%.

Western Midstream Partners Company Profile

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.