Abel Hall LLC Raises Stock Holdings in Western Midstream Partners, LP $WES

Abel Hall LLC increased its holdings in shares of Western Midstream Partners, LP (NYSE:WES) by 147.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 25,188 shares of the pipeline company’s stock after acquiring an additional 14,997 shares during the period. Abel Hall LLC’s holdings in Western Midstream Partners were worth $1,037,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of WES. Eagle Bay Advisors LLC purchased a new stake in Western Midstream Partners in the fourth quarter worth $27,000. Northwestern Mutual Wealth Management Co. purchased a new position in Western Midstream Partners during the 4th quarter worth $27,000. Rothschild Investment LLC lifted its holdings in shares of Western Midstream Partners by 76.2% in the 4th quarter. Rothschild Investment LLC now owns 793 shares of the pipeline company’s stock worth $31,000 after buying an additional 343 shares during the period. Garton & Associates Financial Advisors LLC purchased a new stake in shares of Western Midstream Partners in the 4th quarter worth $32,000. Finally, Global Wealth Strategies & Associates bought a new position in shares of Western Midstream Partners during the 4th quarter worth $35,000. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Wall Street Analysts Forecast Growth

WES has been the subject of several recent research reports. Wells Fargo & Company lifted their price objective on Western Midstream Partners from $41.00 to $43.00 and gave the company an “equal weight” rating in a report on Wednesday, May 13th. 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. Mizuho initiated coverage on shares of Western Midstream Partners in a report on Wednesday, June 17th. They issued an “outperform” rating and a $48.00 price target for the company. JPMorgan Chase & Co. dropped their price objective on shares of Western Midstream Partners from $44.00 to $43.00 and set a “neutral” rating on the stock in a research note on Thursday, March 12th. Finally, Morgan Stanley raised shares of Western Midstream Partners from an “underweight” rating to an “equal weight” rating and set a $51.00 price objective on the stock in a report on Wednesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $45.00.

Western Midstream Partners Price Performance

Shares of WES opened at $43.72 on Monday. The company has a 50 day moving average of $43.85 and a two-hundred day moving average of $42.02. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 2.34. Western Midstream Partners, LP has a twelve month low of $36.90 and a twelve month high of $48.01. The company has a market cap of $17.21 billion, a price-to-earnings ratio of 14.29, a price-to-earnings-growth ratio of 1.84 and a beta of 0.68.

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

Western Midstream Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were issued a $0.93 dividend. This is a boost from Western Midstream Partners’s previous quarterly dividend of $0.91. This represents a $3.72 annualized dividend and a yield of 8.5%. The ex-dividend date of this dividend was Friday, May 1st. Western Midstream Partners’s dividend payout ratio is 121.57%.

Western Midstream Partners Company 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.