Cvfg LLC Takes Position in Western Midstream Partners, LP $WES

Cvfg LLC acquired a new position in shares of Western Midstream Partners, LP (NYSE:WES) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 21,730 shares of the pipeline company’s stock, valued at approximately $895,000.

A number of other hedge funds have also recently made changes to their positions in WES. Geode Capital Management LLC increased its stake in shares of 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 buying 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 worth $266,000 after purchasing an additional 999 shares during the period. Guggenheim Capital LLC grew its stake in shares of Western Midstream Partners by 6.0% in the second 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. Cerity Partners LLC grew its stake in shares of Western Midstream Partners by 39.1% in the second quarter. Cerity Partners LLC now owns 25,003 shares of the pipeline company’s stock worth $968,000 after purchasing an additional 7,032 shares during the last quarter. Finally, NewEdge Advisors LLC acquired a new stake in Western Midstream Partners in the second quarter valued at $2,172,000. 84.82% of the stock is owned by institutional investors and hedge funds.

Western Midstream Partners Stock Up 1.1%

Shares of Western Midstream Partners stock opened at $45.27 on Thursday. Western Midstream Partners, LP has a one year low of $36.90 and a one year high of $48.01. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.09 and a quick ratio of 1.09. The stock’s 50-day moving average is $44.06 and its 200 day moving average is $42.13. The firm has a market cap of $17.83 billion, a price-to-earnings ratio of 14.80, a PEG ratio of 1.89 and a beta of 0.68.

Western Midstream Partners (NYSE:WES) last posted its quarterly earnings results on Wednesday, May 6th. The pipeline company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.11. The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Western Midstream Partners had a return on equity of 33.89% and a net margin of 29.98%.The company’s revenue for the quarter was up 22.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.79 EPS. Equities research analysts anticipate that Western Midstream Partners, LP will post 3.44 EPS for the current year.

Western Midstream Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were paid a $0.93 dividend. The ex-dividend date was Friday, May 1st. This represents a $3.72 annualized dividend and a dividend yield of 8.2%. This is a boost from Western Midstream Partners’s previous quarterly dividend of $0.91. Western Midstream Partners’s dividend payout ratio (DPR) is 121.57%.

Analyst Ratings Changes

Several brokerages recently issued reports on WES. JPMorgan Chase & Co. lowered their target price on Western Midstream Partners from $44.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, March 12th. Wall Street Zen lowered Western Midstream Partners from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Mizuho started coverage on Western Midstream Partners in a report on Wednesday, June 17th. They issued an “outperform” rating and a $48.00 target price on the stock. Stifel Nicolaus set a $46.00 target price on shares of Western Midstream Partners and gave the company a “buy” rating in a research report on Thursday, May 7th. Finally, UBS Group raised their price target on shares of Western Midstream Partners from $40.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Western Midstream Partners has a consensus rating of “Hold” and an average target price of $45.00.

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.