Western Midstream Partners, LP (NYSE:WES) Shares Sold by Custom Index Systems LLC

Custom Index Systems LLC decreased its position in shares of Western Midstream Partners, LP (NYSE:WES) by 23.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,825 shares of the pipeline company’s stock after selling 9,701 shares during the period. Custom Index Systems LLC’s holdings in Western Midstream Partners were worth $1,179,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Blackstone Inc. lifted its holdings in shares of Western Midstream Partners by 2.0% in the first quarter. Blackstone Inc. now owns 12,980,724 shares of the pipeline company’s stock valued at $461,465,000 after buying an additional 259,928 shares during the period. Chickasaw Capital Management LLC lifted its holdings in Western Midstream Partners by 0.6% in the 2nd quarter. Chickasaw Capital Management LLC now owns 6,711,006 shares of the pipeline company’s stock valued at $266,628,000 after acquiring an additional 37,259 shares during the last quarter. Kayne Anderson Capital Advisors LP lifted its holdings in Western Midstream Partners by 27.4% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 4,165,829 shares of the pipeline company’s stock valued at $148,095,000 after acquiring an additional 895,715 shares during the last quarter. BROOKFIELD Corp ON boosted its position in shares of Western Midstream Partners by 2.7% during the 1st quarter. BROOKFIELD Corp ON now owns 2,953,510 shares of the pipeline company’s stock valued at $104,997,000 after purchasing an additional 77,942 shares in the last quarter. Finally, Jennison Associates LLC grew its stake in shares of Western Midstream Partners by 96.0% in the 1st quarter. Jennison Associates LLC now owns 1,928,179 shares of the pipeline company’s stock worth $68,547,000 after purchasing an additional 944,494 shares during the last quarter. 42.94% of the stock is currently owned by institutional investors and hedge funds.

Western Midstream Partners Stock Down 0.5 %

NYSE:WES traded down $0.20 during trading hours on Friday, hitting $38.43. 1,082,584 shares of the company’s stock traded hands, compared to its average volume of 1,204,789. The stock’s fifty day moving average price is $38.63 and its two-hundred day moving average price is $38.35. The firm has a market cap of $14.62 billion, a P/E ratio of 10.83, a P/E/G ratio of 0.72 and a beta of 2.87. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.68 and a current ratio of 1.68. Western Midstream Partners, LP has a twelve month low of $26.49 and a twelve month high of $42.80.

Western Midstream Partners (NYSE:WES) last posted its quarterly earnings results on Wednesday, August 7th. The pipeline company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.09. Western Midstream Partners had a net margin of 44.01% and a return on equity of 47.19%. The business had revenue of $905.63 million during the quarter, compared to analyst estimates of $904.94 million. During the same period in the prior year, the firm earned $0.64 earnings per share. The firm’s revenue was up 22.7% compared to the same quarter last year. On average, research analysts expect that Western Midstream Partners, LP will post 4.13 earnings per share for the current fiscal year.

Western Midstream Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Friday, November 1st will be issued a dividend of $0.875 per share. This represents a $3.50 annualized dividend and a dividend yield of 9.11%. The ex-dividend date of this dividend is Friday, November 1st. Western Midstream Partners’s dividend payout ratio is currently 98.59%.

Analysts Set New Price Targets

WES has been the subject of several recent research reports. Royal Bank of Canada increased their target price on shares of Western Midstream Partners from $38.00 to $41.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 16th. Stifel Nicolaus increased their price objective on Western Midstream Partners from $39.00 to $40.00 and gave the company a “hold” rating in a research report on Friday, August 9th. Bank of America began coverage on Western Midstream Partners in a report on Thursday, October 17th. They issued an “underperform” rating and a $37.00 target price on the stock. StockNews.com raised Western Midstream Partners from a “buy” rating to a “strong-buy” rating in a research report on Sunday, October 20th. Finally, UBS Group increased their price target on Western Midstream Partners from $38.00 to $39.00 and gave the company a “neutral” rating in a research report on Wednesday, September 18th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $38.13.

Insider Transactions at Western Midstream Partners

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of Western Midstream Partners stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the completion of the sale, the insider now owns 165,681,578 shares of the company’s stock, valued at approximately $5,923,116,413.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.04% of the stock is currently owned by company insiders.

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.