Americana Partners LLC Cuts Stock Position in Western Midstream Partners, LP $WES

Americana Partners LLC decreased its holdings in Western Midstream Partners, LP (NYSE:WES) by 6.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 137,495 shares of the pipeline company’s stock after selling 10,033 shares during the quarter. Americana Partners LLC’s holdings in Western Midstream Partners were worth $5,321,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in WES. Invesco Ltd. lifted its holdings in Western Midstream Partners by 7.1% during the 1st quarter. Invesco Ltd. now owns 24,417,770 shares of the pipeline company’s stock worth $1,000,152,000 after buying an additional 1,608,609 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Western Midstream Partners by 1.8% during the first quarter. Goldman Sachs Group Inc. now owns 8,658,988 shares of the pipeline company’s stock worth $354,672,000 after acquiring an additional 149,833 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Western Midstream Partners by 2.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,428,847 shares of the pipeline company’s stock valued at $304,286,000 after acquiring an additional 155,661 shares in the last quarter. Chickasaw Capital Management LLC boosted its holdings in Western Midstream Partners by 1.1% in the second quarter. Chickasaw Capital Management LLC now owns 6,794,472 shares of the pipeline company’s stock valued at $262,946,000 after purchasing an additional 72,459 shares during the period. Finally, Kingstone Capital Partners Texas LLC purchased a new position in Western Midstream Partners in the second quarter valued at $156,967,000. Institutional investors and hedge funds own 84.82% of the company’s stock.

Western Midstream Partners Price Performance

Shares of WES opened at $38.97 on Monday. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.30 and a quick ratio of 1.30. Western Midstream Partners, LP has a 1-year low of $33.60 and a 1-year high of $43.33. The stock has a market cap of $15.90 billion, a PE ratio of 11.99 and a beta of 1.14. The firm has a fifty day moving average price of $38.37 and a 200 day moving average price of $38.58.

Western Midstream Partners (NYSE:WES) last posted its earnings results on Tuesday, November 4th. The pipeline company reported $0.87 EPS for the quarter, hitting analysts’ consensus estimates of $0.87. The business had revenue of $952.48 million for the quarter, compared to analysts’ expectations of $965.55 million. Western Midstream Partners had a return on equity of 37.70% and a net margin of 34.45%.The business’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.74 earnings per share. As a group, sell-side analysts anticipate that Western Midstream Partners, LP will post 4.02 EPS for the current year.

Western Midstream Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be paid a $0.91 dividend. The ex-dividend date is Friday, October 31st. This represents a $3.64 dividend on an annualized basis and a yield of 9.3%. Western Midstream Partners’s payout ratio is currently 107.69%.

Analyst Ratings Changes

Several equities research analysts have weighed in on WES shares. Citigroup started coverage on Western Midstream Partners in a report on Monday, October 20th. They set a “neutral” rating and a $39.00 price target on the stock. Mizuho raised their target price on shares of Western Midstream Partners from $44.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, August 29th. Royal Bank Of Canada lifted their price target on shares of Western Midstream Partners from $38.00 to $39.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 26th. Stifel Nicolaus set a $43.00 price objective on shares of Western Midstream Partners in a research report on Thursday. Finally, Morgan Stanley reduced their price objective on shares of 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, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Western Midstream Partners currently has a consensus rating of “Hold” and a consensus price target of $40.50.

Western Midstream Partners 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.