Berkley W R Corp Acquires Shares of 887,163 Western Midstream Partners, LP $WES

Berkley W R Corp bought a new position in shares of Western Midstream Partners, LP (NYSE:WES) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 887,163 shares of the pipeline company’s stock, valued at approximately $34,857,000. Western Midstream Partners makes up approximately 2.0% of Berkley W R Corp’s investment portfolio, making the stock its 8th largest position. Berkley W R Corp owned about 0.22% of Western Midstream Partners as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WES. HB Wealth Management LLC increased its position in shares of Western Midstream Partners by 4.0% during the third quarter. HB Wealth Management LLC now owns 7,900 shares of the pipeline company’s stock worth $310,000 after purchasing an additional 304 shares in the last quarter. Jaffetilchin Investment Partners LLC lifted its holdings in Western Midstream Partners by 6.4% in the 2nd quarter. Jaffetilchin Investment Partners LLC now owns 5,201 shares of the pipeline company’s stock valued at $201,000 after purchasing an additional 312 shares in the last quarter. Truist Financial Corp lifted its holdings in Western Midstream Partners by 1.6% in the 3rd quarter. Truist Financial Corp now owns 22,956 shares of the pipeline company’s stock valued at $902,000 after purchasing an additional 364 shares in the last quarter. SL Advisors LLC boosted its stake in Western Midstream Partners by 1.6% during the 3rd quarter. SL Advisors LLC now owns 24,554 shares of the pipeline company’s stock worth $965,000 after purchasing an additional 377 shares during the last quarter. Finally, Daymark Wealth Partners LLC grew its holdings in shares of Western Midstream Partners by 0.8% during the third quarter. Daymark Wealth Partners LLC now owns 46,156 shares of the pipeline company’s stock worth $1,813,000 after buying an additional 382 shares in the last quarter. 84.82% of the stock is owned by hedge funds and other institutional investors.

Western Midstream Partners Price Performance

Western Midstream Partners stock opened at $40.85 on Friday. Western Midstream Partners, LP has a 12-month low of $33.60 and a 12-month high of $44.74. The stock has a market cap of $16.08 billion, a P/E ratio of 13.62 and a beta of 0.76. The company has a 50-day moving average price of $41.37 and a 200 day moving average price of $39.67. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.97.

Western Midstream Partners (NYSE:WES) last posted its earnings results 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 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 firm earned $0.85 earnings per share. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. Sell-side analysts anticipate that Western Midstream Partners, LP will post 4.02 earnings per share for the current year.

Western Midstream Partners Dividend Announcement

The firm also recently disclosed 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 was Monday, February 2nd. This represents a $3.64 dividend on an annualized basis and a yield of 8.9%. Western Midstream Partners’s dividend payout ratio is currently 121.33%.

Insider Buying and Selling at Western Midstream Partners

In other Western Midstream Partners news, Director Robert G. Phillips acquired 1,250 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The stock was purchased 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 of the company’s stock, valued at $212,846.24. This trade represents a 30.89% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Christopher B. Dial sold 5,879 shares of the business’s stock in a transaction dated Thursday, February 12th. The shares were 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. This trade represents a 3.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.04% of the stock is owned by company insiders.

Analysts Set New Price Targets

WES has been the topic of several research reports. Stifel Nicolaus decreased their price target on shares of Western Midstream Partners from $43.00 to $42.00 and set a “hold” rating on the stock in a research note on Friday, February 20th. Royal Bank Of Canada increased their price objective on shares of Western Midstream Partners from $39.00 to $42.00 and gave the company a “sector perform” rating in a report on Friday, November 28th. Wall Street Zen lowered shares of Western Midstream Partners from a “buy” rating to a “hold” rating in a research note on Saturday, December 27th. 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. Finally, JPMorgan Chase & Co. dropped their price target on Western Midstream Partners from $44.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $41.71.

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.