Caprock Group LLC Acquires New Position in Western Midstream Partners, LP $WES

Caprock Group LLC bought a new position in shares of Western Midstream Partners, LP (NYSE:WES) during the 3rd quarter, Holdings Channel.com reports. The fund bought 29,537 shares of the pipeline company’s stock, valued at approximately $1,158,000.

Several other hedge funds have also modified their holdings of the business. Advisors Asset Management Inc. boosted its position in shares of Western Midstream Partners by 17.2% in the 2nd quarter. Advisors Asset Management Inc. now owns 157,099 shares of the pipeline company’s stock worth $6,080,000 after buying an additional 23,023 shares in the last quarter. Catalyst Capital Advisors LLC lifted its holdings in shares of Western Midstream Partners by 2.4% in the second quarter. Catalyst Capital Advisors LLC now owns 472,420 shares of the pipeline company’s stock valued at $18,283,000 after purchasing an additional 11,055 shares in the last quarter. Stephens Inc. AR grew its position in shares of Western Midstream Partners by 215.4% in the second quarter. Stephens Inc. AR now owns 131,361 shares of the pipeline company’s stock valued at $5,084,000 after purchasing an additional 89,707 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its stake in shares of Western Midstream Partners by 5.6% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,270,900 shares of the pipeline company’s stock worth $49,934,000 after purchasing an additional 67,000 shares in the last quarter. Finally, Osaic Holdings Inc. raised its position in shares of Western Midstream Partners by 39.8% during the 2nd quarter. Osaic Holdings Inc. now owns 57,692 shares of the pipeline company’s stock worth $2,233,000 after purchasing an additional 16,416 shares during the last quarter. 84.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on WES. Wells Fargo & Company cut their price target on Western Midstream Partners from $40.00 to $39.00 and set an “equal weight” rating for the company in a report on Thursday, January 22nd. Wall Street Zen lowered shares of Western Midstream Partners from a “buy” rating to a “hold” rating in a report on Saturday, December 27th. Royal Bank Of Canada lifted their price target on shares of Western Midstream Partners from $39.00 to $42.00 and gave the stock a “sector perform” rating in a report on Friday, November 28th. Stifel Nicolaus set a $43.00 price objective on shares of Western Midstream Partners in a research report on Thursday, November 6th. Finally, Citigroup initiated coverage on shares of Western Midstream Partners in a research report on Monday, October 20th. They set a “neutral” rating and a $39.00 target price on the stock. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $41.33.

Western Midstream Partners Stock Up 2.6%

Shares of NYSE WES opened at $43.46 on Friday. Western Midstream Partners, LP has a 1 year low of $33.60 and a 1 year high of $43.65. The firm’s 50-day moving average is $40.43 and its 200-day moving average is $39.27. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 2.08. The firm has a market capitalization of $17.73 billion, a PE ratio of 12.86 and a beta of 0.77.

Western Midstream Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Monday, February 2nd were paid a dividend of $0.91 per share. The ex-dividend date of this dividend was Monday, February 2nd. This represents a $3.64 annualized dividend and a yield of 8.4%. Western Midstream Partners’s dividend payout ratio (DPR) is presently 107.69%.

Insider Transactions at Western Midstream Partners

In other news, SVP Christopher B. Dial sold 5,879 shares of Western Midstream Partners stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $42.35, for a total transaction of $248,975.65. Following the transaction, the senior vice president directly owned 185,011 shares of the company’s stock, valued at $7,835,215.85. This trade represents a 3.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.04% of the company’s stock.

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.