Osaic Holdings Inc. Purchases 16,416 Shares of Western Midstream Partners, LP $WES

Osaic Holdings Inc. boosted its position in Western Midstream Partners, LP (NYSE:WES) by 39.8% in the 2nd quarter, HoldingsChannel reports. The firm owned 57,692 shares of the pipeline company’s stock after acquiring an additional 16,416 shares during the period. Osaic Holdings Inc.’s holdings in Western Midstream Partners were worth $2,233,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. State of Wyoming raised its stake in Western Midstream Partners by 95.4% in the second quarter. State of Wyoming now owns 5,840 shares of the pipeline company’s stock valued at $226,000 after buying an additional 2,852 shares during the period. Corient Private Wealth LLC increased its holdings in shares of Western Midstream Partners by 34.9% during the 2nd quarter. Corient Private Wealth LLC now owns 24,814 shares of the pipeline company’s stock worth $960,000 after acquiring an additional 6,423 shares during the last quarter. Captrust Financial Advisors raised its stake in Western Midstream Partners by 1.7% in the 2nd quarter. Captrust Financial Advisors now owns 54,278 shares of the pipeline company’s stock valued at $2,101,000 after acquiring an additional 932 shares during the period. BROOKFIELD Corp ON lifted its holdings in Western Midstream Partners by 19.1% during the 2nd quarter. BROOKFIELD Corp ON now owns 904,361 shares of the pipeline company’s stock valued at $34,999,000 after purchasing an additional 145,094 shares during the last quarter. Finally, Snowden Capital Advisors LLC boosted its position in Western Midstream Partners by 29.5% during the second quarter. Snowden Capital Advisors LLC now owns 10,965 shares of the pipeline company’s stock worth $424,000 after purchasing an additional 2,497 shares during the period. Institutional investors and hedge funds own 84.82% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on WES. Royal Bank Of Canada increased their price objective on shares of Western Midstream Partners from $39.00 to $42.00 and gave the company a “sector perform” rating in a research report on Friday, November 28th. Stifel Nicolaus set a $43.00 price target on shares of Western Midstream Partners in a report on Thursday, November 6th. Citigroup started coverage on shares of Western Midstream Partners in a research report on Monday, October 20th. They set a “neutral” rating and a $39.00 price objective for the company. Wall Street Zen downgraded Western Midstream Partners from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Wells Fargo & Company increased their target price on Western Midstream Partners from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 13th. One investment 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $41.50.

Western Midstream Partners Stock Down 1.0%

Shares of WES opened at $39.15 on Friday. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 2.08. Western Midstream Partners, LP has a 12 month low of $33.60 and a 12 month high of $43.33. The firm’s 50 day moving average is $38.91 and its 200-day moving average is $38.85. The stock has a market capitalization of $15.97 billion, a PE ratio of 11.58 and a beta of 0.76.

Western Midstream Partners (NYSE:WES) last issued its quarterly earnings results on Tuesday, November 4th. The pipeline company reported $0.87 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.87. Western Midstream Partners had a return on equity of 39.37% and a net margin of 35.18%.The business had revenue of $952.48 million for the quarter, compared to the consensus estimate of $965.55 million. During the same quarter in the prior year, the business posted $0.74 earnings per share. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. Equities research analysts forecast that Western Midstream Partners, LP will post 4.02 EPS for the current year.

Western Midstream Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 31st were given a $0.91 dividend. The ex-dividend date was Friday, October 31st. This represents a $3.64 dividend on an annualized basis and a dividend yield of 9.3%. Western Midstream Partners’s dividend payout ratio (DPR) is presently 107.69%.

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.