Empirical Finance LLC Has $14.44 Million Stake in Western Midstream Partners, LP $WES

Empirical Finance LLC lowered its position in shares of Western Midstream Partners, LP (NYSE:WES) by 25.4% during the second quarter, HoldingsChannel.com reports. The fund owned 330,016 shares of the pipeline company’s stock after selling 112,173 shares during the quarter. Empirical Finance LLC’s holdings in Western Midstream Partners were worth $14,442,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Jefferies Financial Group Inc. bought a new position in shares of Western Midstream Partners during the 4th quarter worth approximately $5,455,000. Goldman Sachs Group Inc. boosted its stake in Western Midstream Partners by 10.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 9,562,213 shares of the pipeline company’s stock worth $377,707,000 after acquiring an additional 936,376 shares in the last quarter. Militia Capital Management LLC acquired a new stake in Western Midstream Partners in the first quarter worth $8,244,000. Vestcor Inc acquired a new stake in Western Midstream Partners in the fourth quarter worth $2,245,000. Finally, Infrastructure Capital Advisors LLC increased its stake in Western Midstream Partners by 6.7% in the first quarter. Infrastructure Capital Advisors LLC now owns 1,234,879 shares of the pipeline company’s stock valued at $50,840,000 after purchasing an additional 77,202 shares in the last quarter. 84.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Western Midstream Partners

In related news, Director Frederick Forthuber acquired 5,140 shares of the firm’s stock in a transaction on Wednesday, August 12th. The stock was purchased at an average cost of $48.62 per share, with a total value of $249,906.80. Following the acquisition, the director owned 5,140 shares of the company’s stock, valued at approximately $249,906.80. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.04% of the company’s stock.

Western Midstream Partners Stock Down 0.1%

WES traded down $0.03 during trading on Tuesday, hitting $49.51. 702,119 shares of the company’s stock were exchanged, compared to its average volume of 1,244,128. Western Midstream Partners, LP has a fifty-two week low of $36.90 and a fifty-two week high of $50.07. The stock has a market cap of $20.46 billion, a P/E ratio of 15.57, a PEG ratio of 1.46 and a beta of 0.69. The business’s 50 day moving average is $47.06 and its two-hundred day moving average is $44.16. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 2.02.

Western Midstream Partners (NYSE:WES) last issued its quarterly earnings data on Wednesday, August 5th. The pipeline company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.08. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Western Midstream Partners had a net margin of 29.44% and a return on equity of 33.13%. The business’s revenue was up 30.0% on a year-over-year basis. During the same period last year, the company earned $0.87 earnings per share. As a group, equities analysts expect that Western Midstream Partners, LP will post 3.66 earnings per share for the current fiscal year.

Western Midstream Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were paid a dividend of $0.93 per share. The ex-dividend date was Friday, July 31st. This represents a $3.72 dividend on an annualized basis and a yield of 7.5%. Western Midstream Partners’s payout ratio is 116.98%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Zacks Research upgraded shares of Western Midstream Partners from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 13th. Wells Fargo & Company raised their target price on Western Midstream Partners from $43.00 to $46.00 and gave the company an “equal weight” rating in a research note on Monday, August 10th. Wall Street Zen lowered Western Midstream Partners from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Citigroup upped their price target on Western Midstream Partners from $42.00 to $45.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 11th. Finally, JPMorgan Chase & Co. increased their price target on Western Midstream Partners from $46.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $48.12.

About Western Midstream Partners

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.