AlTi Global Inc. Invests $527,000 in Western Midstream Partners, LP $WES

AlTi Global Inc. acquired a new stake in shares of Western Midstream Partners, LP (NYSE:WES) in the first quarter, Holdings Channel.com reports. The firm acquired 12,804 shares of the pipeline company’s stock, valued at approximately $527,000.

Other hedge funds have also made changes to their positions in the company. Eagle Bay Advisors LLC acquired a new stake in Western Midstream Partners during the fourth quarter worth about $27,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Western Midstream Partners during the fourth quarter valued at approximately $27,000. Rothschild Investment LLC increased its position in shares of Western Midstream Partners by 76.2% during the fourth quarter. Rothschild Investment LLC now owns 793 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 343 shares during the period. Garton & Associates Financial Advisors LLC acquired a new position in shares of Western Midstream Partners in the fourth quarter valued at $32,000. Finally, Glen Eagle Advisors LLC raised its stake in shares of Western Midstream Partners by 843.0% in the fourth quarter. Glen Eagle Advisors LLC now owns 943 shares of the pipeline company’s stock valued at $37,000 after purchasing an additional 843 shares in the last quarter. Institutional investors own 84.82% of the company’s stock.

Western Midstream Partners Trading Up 1.5%

Shares of Western Midstream Partners stock opened at $46.66 on Tuesday. The stock has a market capitalization of $18.37 billion, a P/E ratio of 15.25, a price-to-earnings-growth ratio of 1.93 and a beta of 0.68. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 2.34. The company has a 50-day simple moving average of $44.53 and a 200 day simple moving average of $42.48. Western Midstream Partners, LP has a 12-month low of $36.90 and a 12-month high of $48.01.

Western Midstream Partners (NYSE:WES) last released its quarterly earnings results on Wednesday, May 6th. The pipeline company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.11. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.01 billion. Western Midstream Partners had a net margin of 29.98% and a return on equity of 33.89%. The company’s revenue for the quarter was up 22.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.79 earnings per share. Research analysts expect that Western Midstream Partners, LP will post 3.45 earnings per share for the current fiscal year.

Western Midstream Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be given a $0.93 dividend. The ex-dividend date is Friday, July 31st. This represents a $3.72 annualized dividend and a yield of 8.0%. Western Midstream Partners’s payout ratio is presently 121.57%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. UBS Group lifted their price target on shares of Western Midstream Partners from $45.00 to $48.00 and gave the stock a “neutral” rating in a research note on Friday, July 10th. Morgan Stanley raised shares of Western Midstream Partners from an “underweight” rating to an “equal weight” rating and set a $51.00 price objective for the company in a report on Wednesday, June 10th. JPMorgan Chase & Co. upped their target price on shares of Western Midstream Partners from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. Wells Fargo & Company increased their price target on shares of Western Midstream Partners from $41.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 13th. Finally, Mizuho raised their price target on shares of Western Midstream Partners from $48.00 to $51.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $46.25.

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.