Prevail Innovative Wealth Advisors LLC Boosts Holdings in Western Midstream Partners, LP $WES

Prevail Innovative Wealth Advisors LLC increased its holdings in Western Midstream Partners, LP (NYSE:WES) by 30.9% during the fourth quarter, Holdings Channel reports. The firm owned 99,699 shares of the pipeline company’s stock after acquiring an additional 23,550 shares during the quarter. Prevail Innovative Wealth Advisors LLC’s holdings in Western Midstream Partners were worth $3,938,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in WES. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Western Midstream Partners in the 3rd quarter worth approximately $300,257,000. Berkley W R Corp purchased a new stake in shares of Western Midstream Partners during the 3rd quarter worth approximately $34,857,000. CIBC Bancorp USA Inc. purchased a new stake in shares of Western Midstream Partners during the 3rd quarter worth approximately $32,153,000. Bank of America Corp DE raised its holdings in shares of Western Midstream Partners by 31.2% during the 3rd quarter. Bank of America Corp DE now owns 1,872,394 shares of the pipeline company’s stock worth $73,566,000 after acquiring an additional 445,663 shares in the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its holdings in shares of Western Midstream Partners by 21.2% during the 4th quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,540,900 shares of the pipeline company’s stock worth $60,866,000 after acquiring an additional 270,000 shares in the last quarter. 84.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WES has been the topic of several recent research reports. Wall Street Zen raised Western Midstream Partners from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Citigroup upped their price objective on Western Midstream Partners from $39.00 to $42.00 and gave the stock a “neutral” rating in a report on Tuesday, May 12th. JPMorgan Chase & Co. decreased their price objective on Western Midstream Partners from $44.00 to $43.00 and set a “neutral” rating on the stock in a report on Thursday, March 12th. Wells Fargo & Company upped their price objective on Western Midstream Partners from $41.00 to $43.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 13th. Finally, Stifel Nicolaus set a $46.00 price objective on Western Midstream Partners and gave the stock a “buy” rating in a report on Thursday, May 7th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $43.00.

Western Midstream Partners Stock Performance

NYSE WES opened at $45.94 on Thursday. The company has a market cap of $18.09 billion, a P/E ratio of 15.01 and a beta of 0.70. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.09 and a current ratio of 1.09. The business’s 50 day moving average price is $42.06 and its 200-day moving average price is $40.89. Western Midstream Partners, LP has a fifty-two week low of $36.90 and a fifty-two week high of $48.01.

Western Midstream Partners (NYSE:WES) last released its earnings results on Wednesday, May 6th. The pipeline company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.11. The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.01 billion. Western Midstream Partners had a return on equity of 33.89% and a net margin of 29.98%.The company’s revenue for the quarter was up 22.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.79 EPS. Sell-side analysts predict that Western Midstream Partners, LP will post 3.38 earnings per share for the current year.

Western Midstream Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were given a dividend of $0.93 per share. The ex-dividend date of this dividend was Friday, May 1st. This represents a $3.72 annualized dividend and a dividend yield of 8.1%. This is an increase from Western Midstream Partners’s previous quarterly dividend of $0.91. Western Midstream Partners’s dividend payout ratio is presently 121.57%.

Insider Buying and Selling at Western Midstream Partners

In related news, Director Robert G. Phillips bought 1,250 shares of the business’s stock in a transaction dated Wednesday, March 11th. The shares were purchased at an average price of $40.19 per share, with a total value of $50,237.50. Following the transaction, the director owned 5,296 shares in the company, valued at $212,846.24. This trade represents a 30.89% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.04% of the company’s stock.

Western Midstream Partners Company Profile

Western Midstream Partners, LP (NYSE: WES) is a midstream energy infrastructure company that owns, operates and develops an integrated network of crude oil, natural gas and produced water gathering, processing, transportation and storage assets in the United States. The partnership’s primary offerings include pipeline transportation, fractionation services, natural gas liquids (NGL) logistics and produced water handling. Through its fee-based and commodity-based contracts, Western Midstream provides its customers with essential services that support efficient energy production and distribution.

The company’s asset portfolio spans key onshore basins, including the Delaware Basin in West Texas and southeastern New Mexico, the San Juan Basin in New Mexico and Colorado, and the Denver-Julesburg Basin in Colorado.