Iron Horse Wealth Management LLC Takes Position in Western Midstream Partners, LP $WES

Iron Horse Wealth Management LLC purchased a new stake in Western Midstream Partners, LP (NYSE:WES) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,495 shares of the pipeline company’s stock, valued at approximately $58,000.

A number of other large investors have also made changes to their positions in WES. Wealth Enhancement Advisory Services LLC grew its position in shares of Western Midstream Partners by 29.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 42,294 shares of the pipeline company’s stock valued at $1,625,000 after purchasing an additional 9,506 shares in the last quarter. Princeton Global Asset Management LLC grew its position in shares of Western Midstream Partners by 133.3% in the first quarter. Princeton Global Asset Management LLC now owns 700 shares of the pipeline company’s stock valued at $29,000 after purchasing an additional 400 shares in the last quarter. Baldwin Wealth Partners LLC MA purchased a new stake in shares of Western Midstream Partners in the first quarter valued at approximately $205,000. Daymark Wealth Partners LLC grew its position in shares of Western Midstream Partners by 8.6% in the first quarter. Daymark Wealth Partners LLC now owns 45,506 shares of the pipeline company’s stock valued at $1,864,000 after purchasing an additional 3,605 shares in the last quarter. Finally, Sonora Investment Management Group LLC purchased a new stake in shares of Western Midstream Partners in the first quarter valued at approximately $205,000. 84.82% of the stock is currently owned by hedge funds and other institutional investors.

Western Midstream Partners Trading Down 0.8%

WES opened at $38.59 on Friday. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.30 and a current ratio of 1.30. The business’s 50 day moving average price is $38.79 and its 200 day moving average price is $38.67. Western Midstream Partners, LP has a one year low of $33.60 and a one year high of $43.33. The stock has a market capitalization of $14.72 billion, a PE ratio of 11.87 and a beta of 1.12.

Western Midstream Partners (NYSE:WES) last released its quarterly earnings results on Wednesday, August 6th. The pipeline company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.05. Western Midstream Partners had a return on equity of 37.70% and a net margin of 34.45%.The company had revenue of $942.32 million for the quarter, compared to analysts’ expectations of $954.17 million. During the same period in the prior year, the firm earned $0.97 earnings per share. The firm’s revenue was up 4.1% compared to the same quarter last year. As a group, equities research analysts expect that Western Midstream Partners, LP will post 4.02 EPS for the current year.

Western Midstream Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Friday, August 1st were paid a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 9.4%. The ex-dividend date was Friday, August 1st. Western Midstream Partners’s dividend payout ratio is 112.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Mizuho upped their price target on Western Midstream Partners from $44.00 to $46.00 and gave the company an “outperform” rating in a research report on Friday, August 29th. Royal Bank Of Canada upped their price objective on Western Midstream Partners from $38.00 to $39.00 and gave the company a “sector perform” rating in a report on Tuesday, August 26th. Finally, Morgan Stanley decreased their price objective on Western Midstream Partners from $41.00 to $39.00 and set an “underweight” rating on the stock in a report on Tuesday, August 26th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Western Midstream Partners has a consensus rating of “Reduce” and a consensus price target of $39.60.

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.