Brown Brothers Harriman & Co. Grows Position in Western Midstream Partners, LP (NYSE:WES)

Brown Brothers Harriman & Co. raised its holdings in shares of Western Midstream Partners, LP (NYSE:WES) by 1,430.0% during the third quarter, according to its most recent filing with the SEC. The firm owned 8,782 shares of the pipeline company’s stock after purchasing an additional 8,208 shares during the period. Brown Brothers Harriman & Co.’s holdings in Western Midstream Partners were worth $336,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. MAI Capital Management increased its holdings in Western Midstream Partners by 293.1% during the third quarter. MAI Capital Management now owns 29,878 shares of the pipeline company’s stock valued at $1,143,000 after buying an additional 22,277 shares during the period. Fractal Investments LLC raised its position in shares of Western Midstream Partners by 5.4% in the 3rd quarter. Fractal Investments LLC now owns 1,465,706 shares of the pipeline company’s stock worth $56,078,000 after acquiring an additional 75,145 shares in the last quarter. Highland Capital Management LLC purchased a new stake in shares of Western Midstream Partners during the 2nd quarter worth $516,000. International Assets Investment Management LLC boosted its position in Western Midstream Partners by 9,082.5% during the third quarter. International Assets Investment Management LLC now owns 18,365 shares of the pipeline company’s stock valued at $703,000 after purchasing an additional 18,165 shares in the last quarter. Finally, Raymond James & Associates grew its stake in Western Midstream Partners by 30.2% in the second quarter. Raymond James & Associates now owns 103,883 shares of the pipeline company’s stock valued at $4,127,000 after purchasing an additional 24,072 shares during the last quarter. Institutional investors own 42.94% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. US Capital Advisors raised shares of Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a research report on Tuesday. Stifel Nicolaus increased their target price on shares of Western Midstream Partners from $39.00 to $40.00 and gave the company a “hold” rating in a research report on Friday, August 9th. UBS Group cut their price target on shares of Western Midstream Partners from $40.00 to $37.00 and set a “neutral” rating on the stock in a report on Friday, November 15th. Morgan Stanley lowered Western Midstream Partners from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $42.00 to $40.00 in a report on Friday, October 25th. Finally, Bank of America began coverage on Western Midstream Partners in a research note on Thursday, October 17th. They set an “underperform” rating and a $37.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Western Midstream Partners has an average rating of “Hold” and an average price target of $37.88.

Western Midstream Partners Trading Up 2.3 %

Western Midstream Partners stock opened at $39.65 on Thursday. The stock has a 50-day moving average price of $38.27 and a 200 day moving average price of $38.72. The company has a market capitalization of $15.09 billion, a price-to-earnings ratio of 10.11, a price-to-earnings-growth ratio of 1.03 and a beta of 2.88. Western Midstream Partners, LP has a 52 week low of $26.81 and a 52 week high of $42.80. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.05.

Western Midstream Partners (NYSE:WES) last released its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.74 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.09). The business had revenue of $883.36 million during the quarter, compared to analysts’ expectations of $924.83 million. Western Midstream Partners had a net margin of 42.99% and a return on equity of 46.02%. The firm’s revenue was up 13.8% on a year-over-year basis. During the same period last year, the company earned $0.70 earnings per share. Sell-side analysts anticipate that Western Midstream Partners, LP will post 4.09 EPS for the current year.

Western Midstream Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were given a dividend of $0.875 per share. This represents a $3.50 annualized dividend and a yield of 8.83%. The ex-dividend date of this dividend was Friday, November 1st. Western Midstream Partners’s dividend payout ratio is currently 89.29%.

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.