Spirit of America Management Corp NY Has $6.21 Million Stock Holdings in Western Midstream Partners, LP (NYSE:WES)

Spirit of America Management Corp NY trimmed its position in shares of Western Midstream Partners, LP (NYSE:WES) by 9.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 161,650 shares of the pipeline company’s stock after selling 17,700 shares during the quarter. Western Midstream Partners makes up 1.3% of Spirit of America Management Corp NY’s holdings, making the stock its 22nd biggest holding. Spirit of America Management Corp NY’s holdings in Western Midstream Partners were worth $6,212,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Stifel Financial Corp boosted its stake in shares of Western Midstream Partners by 42.1% during the third quarter. Stifel Financial Corp now owns 108,367 shares of the pipeline company’s stock valued at $4,146,000 after purchasing an additional 32,119 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Western Midstream Partners by 6.5% during the third quarter. BNP Paribas Financial Markets now owns 996,018 shares of the pipeline company’s stock valued at $38,108,000 after purchasing an additional 60,603 shares in the last quarter. MAI Capital Management lifted its stake in shares of Western Midstream Partners by 293.1% in the third quarter. MAI Capital Management now owns 29,878 shares of the pipeline company’s stock worth $1,143,000 after acquiring an additional 22,277 shares during the period. Citigroup Inc. lifted its stake in shares of Western Midstream Partners by 322.1% in the third quarter. Citigroup Inc. now owns 406,587 shares of the pipeline company’s stock worth $15,556,000 after acquiring an additional 310,260 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of Western Midstream Partners by 60.1% in the third quarter. JPMorgan Chase & Co. now owns 1,785,105 shares of the pipeline company’s stock worth $68,298,000 after acquiring an additional 670,440 shares during the period. 84.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on WES. Bank of America began coverage on Western Midstream Partners in a research note on Thursday, October 17th. They issued an “underperform” rating and a $37.00 price objective on the stock. Morgan Stanley lowered Western Midstream Partners from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $42.00 to $40.00 in a research note on Friday, October 25th. StockNews.com lowered Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 28th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $41.00 price objective on shares of Western Midstream Partners in a research note on Monday, December 9th. Finally, UBS Group lowered their target price on Western Midstream Partners from $40.00 to $37.00 and set a “neutral” rating for the company in a report on Friday, November 15th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $37.88.

Western Midstream Partners Trading Up 0.3 %

NYSE WES opened at $40.73 on Wednesday. The company has a market cap of $15.50 billion, a price-to-earnings ratio of 10.39, a P/E/G ratio of 1.38 and a beta of 2.88. Western Midstream Partners, LP has a 52 week low of $27.84 and a 52 week high of $43.33. The business has a 50 day moving average price of $40.12 and a 200-day moving average price of $39.11. 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 firm had revenue of $883.36 million for the quarter, compared to the consensus estimate of $924.83 million. Western Midstream Partners had a net margin of 42.99% and a return on equity of 46.02%. The company’s revenue was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.70 EPS. As a group, equities analysts expect that Western Midstream Partners, LP will post 4.02 earnings per share for the current fiscal year.

Western Midstream Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be issued a dividend of $0.875 per share. The ex-dividend date is Monday, February 3rd. This represents a $3.50 annualized dividend and a dividend yield of 8.59%. Western Midstream Partners’s dividend payout ratio is 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.