Western Midstream Partners, LP $WES Shares Sold by Chickasaw Capital Management LLC

Chickasaw Capital Management LLC decreased its position in shares of Western Midstream Partners, LP (NYSE:WES) by 3.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 5,655,505 shares of the pipeline company’s stock after selling 204,114 shares during the quarter. Western Midstream Partners comprises 9.2% of Chickasaw Capital Management LLC’s holdings, making the stock its 4th biggest position. Chickasaw Capital Management LLC’s holdings in Western Midstream Partners were worth $223,392,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Western Midstream Partners in the 3rd quarter worth approximately $300,257,000. Berkley W R Corp purchased a new position in shares of Western Midstream Partners during the 3rd quarter worth $34,857,000. CIBC Bancorp USA Inc. purchased a new position in shares of Western Midstream Partners during the 3rd quarter worth $32,153,000. Bank of America Corp DE boosted its holdings in shares of Western Midstream Partners by 31.2% during the third quarter. Bank of America Corp DE now owns 1,872,394 shares of the pipeline company’s stock worth $73,566,000 after purchasing an additional 445,663 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its position in shares of Western Midstream Partners by 28.9% in the third quarter. BNP Paribas Financial Markets now owns 1,055,741 shares of the pipeline company’s stock valued at $41,480,000 after purchasing an additional 236,831 shares during the period. Institutional investors and hedge funds own 84.82% of the company’s stock.

Insider Activity

In other news, SVP Christopher B. Dial sold 5,879 shares of the business’s stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $42.35, for a total transaction of $248,975.65. Following the completion of the sale, the senior vice president owned 185,011 shares in the company, valued at approximately $7,835,215.85. The trade was a 3.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert G. Phillips bought 1,250 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The shares were acquired at an average cost of $40.19 per share, with a total value of $50,237.50. Following the transaction, the director owned 5,296 shares in the company, valued at approximately $212,846.24. This represents a 30.89% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 0.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on WES shares. Wells Fargo & Company upped their target price on Western Midstream Partners from $39.00 to $41.00 and gave the company an “equal weight” rating in a research note on Friday, March 13th. Royal Bank Of Canada lifted their price target on Western Midstream Partners from $39.00 to $42.00 and gave the company a “sector perform” rating in a report on Friday, November 28th. JPMorgan Chase & Co. dropped their price objective on shares of Western Midstream Partners from $44.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday, March 12th. Stifel Nicolaus cut their price objective on shares of Western Midstream Partners from $43.00 to $42.00 and set a “hold” rating on the stock in a report on Friday, February 20th. Finally, Wall Street Zen cut shares of Western Midstream Partners from a “buy” rating to a “hold” rating in a research report on Saturday, December 27th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Western Midstream Partners currently has an average rating of “Hold” and an average target price of $41.71.

Western Midstream Partners Trading Up 0.4%

WES stock opened at $41.82 on Tuesday. The company has a market cap of $16.46 billion, a price-to-earnings ratio of 13.94 and a beta of 0.76. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.97. The business has a fifty day simple moving average of $41.49 and a 200-day simple moving average of $39.79. Western Midstream Partners, LP has a 52 week low of $33.60 and a 52 week high of $44.74.

Western Midstream Partners (NYSE:WES) last issued its earnings results on Wednesday, February 18th. The pipeline company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.44). Western Midstream Partners had a net margin of 30.52% and a return on equity of 33.14%. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the previous year, the business posted $0.85 EPS. Western Midstream Partners’s revenue was up 11.1% compared to the same quarter last year. On average, equities research analysts expect that Western Midstream Partners, LP will post 4.02 EPS for the current year.

Western Midstream Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 2nd were paid a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 8.7%. The ex-dividend date of this dividend was Monday, February 2nd. Western Midstream Partners’s payout ratio is currently 121.33%.

Western Midstream Partners Profile

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.