Exchange Traded Concepts LLC Has $10.93 Million Holdings in Western Midstream Partners, LP $WES

Exchange Traded Concepts LLC increased its stake in shares of Western Midstream Partners, LP (NYSE:WES) by 28.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 276,673 shares of the pipeline company’s stock after buying an additional 61,856 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Western Midstream Partners were worth $10,929,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of WES. Geode Capital Management LLC grew its position in Western Midstream Partners by 6.4% in the second quarter. Geode Capital Management LLC now owns 8,525 shares of the pipeline company’s stock valued at $330,000 after acquiring an additional 512 shares during the period. Creative Planning lifted its holdings in shares of Western Midstream Partners by 17.0% during the second quarter. Creative Planning now owns 6,878 shares of the pipeline company’s stock valued at $266,000 after acquiring an additional 999 shares during the period. Choreo LLC boosted its stake in shares of Western Midstream Partners by 4.9% in the 2nd quarter. Choreo LLC now owns 9,716 shares of the pipeline company’s stock valued at $376,000 after purchasing an additional 456 shares in the last quarter. Virtus Investment Advisers LLC grew its holdings in shares of Western Midstream Partners by 13.9% in the 2nd quarter. Virtus Investment Advisers LLC now owns 4,450 shares of the pipeline company’s stock worth $172,000 after purchasing an additional 542 shares during the last quarter. Finally, Guggenheim Capital LLC grew its holdings in shares of Western Midstream Partners by 6.0% in the 2nd quarter. Guggenheim Capital LLC now owns 23,029 shares of the pipeline company’s stock worth $891,000 after purchasing an additional 1,298 shares during the last quarter. Institutional investors and hedge funds own 84.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. JPMorgan Chase & Co. cut their price target on shares of Western Midstream Partners from $44.00 to $43.00 and set a “neutral” rating for the company in a report on Thursday, March 12th. Wall Street Zen cut shares of Western Midstream Partners from a “buy” rating to a “hold” rating in a research note on Saturday, December 27th. Stifel Nicolaus cut their target price on shares of Western Midstream Partners from $43.00 to $42.00 and set a “hold” rating for the company in a research note on Friday, February 20th. Finally, Wells Fargo & Company boosted their target price on Western Midstream Partners from $39.00 to $41.00 and gave the stock an “equal weight” rating in a report on Friday, March 13th. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Western Midstream Partners has an average rating of “Hold” and a consensus target price of $41.71.

Insider Buying and Selling

In other news, Director Robert G. Phillips acquired 1,250 shares of Western Midstream Partners stock in a transaction on Wednesday, March 11th. The shares were purchased at an average price of $40.19 per share, with a total value of $50,237.50. Following the acquisition, the director owned 5,296 shares in the company, valued at $212,846.24. This represents a 30.89% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Christopher B. Dial sold 5,879 shares of the stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $42.35, for a total value of $248,975.65. Following the completion of the transaction, the senior vice president owned 185,011 shares in the company, valued at $7,835,215.85. The trade was a 3.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.04% of the company’s stock.

Western Midstream Partners Stock Down 0.2%

Shares of NYSE WES opened at $41.71 on Monday. Western Midstream Partners, LP has a 12-month low of $33.60 and a 12-month high of $44.74. The firm’s 50-day simple moving average is $41.51 and its 200 day simple moving average is $39.90. 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 company has a market cap of $16.42 billion, a price-to-earnings ratio of 13.90 and a beta of 0.76.

Western Midstream Partners (NYSE:WES) last posted its quarterly earnings data on Wednesday, February 18th. The pipeline company reported $0.47 earnings per share for the quarter, missing the consensus estimate 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 company 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. The company’s revenue was up 11.1% compared to the same quarter last year. On average, research 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 business also recently declared a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Monday, February 2nd were issued a $0.91 dividend. The ex-dividend date of this dividend was Monday, February 2nd. This represents a $3.64 dividend on an annualized basis and a dividend yield of 8.7%. Western Midstream Partners’s dividend payout ratio (DPR) is currently 121.33%.

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.