Militia Capital Management LLC Takes $8.24 Million Position in Western Midstream Partners, LP $WES

Militia Capital Management LLC bought a new position in shares of Western Midstream Partners, LP (NYSE:WES) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 200,250 shares of the pipeline company’s stock, valued at approximately $8,244,000. Western Midstream Partners makes up about 1.8% of Militia Capital Management LLC’s portfolio, making the stock its 8th largest position.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Jefferies Financial Group Inc. bought a new stake in Western Midstream Partners during the 4th quarter worth approximately $5,455,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its stake in shares of Western Midstream Partners by 21.2% in the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,540,900 shares of the pipeline company’s stock worth $60,866,000 after purchasing an additional 270,000 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Western Midstream Partners by 10.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 9,562,213 shares of the pipeline company’s stock worth $377,707,000 after purchasing an additional 936,376 shares during the last quarter. SageGuard Financial Group LLC bought a new position in shares of Western Midstream Partners in the fourth quarter valued at approximately $1,777,000. Finally, GraniteShares Advisors LLC bought a new position in shares of Western Midstream Partners in the fourth quarter valued at approximately $2,695,000. Institutional investors and hedge funds own 84.82% of the company’s stock.

Western Midstream Partners Price Performance

WES opened at $47.04 on Thursday. Western Midstream Partners, LP has a fifty-two week low of $36.90 and a fifty-two week high of $48.01. The firm has a 50-day moving average of $44.60 and a 200 day moving average of $42.59. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a market cap of $18.52 billion, a P/E ratio of 15.37, a PEG ratio of 1.95 and a beta of 0.68.

Western Midstream Partners (NYSE:WES) last announced its quarterly earnings data on Wednesday, May 6th. The pipeline company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.74 by $0.11. The business 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.79 earnings per share. On average, research analysts expect that Western Midstream Partners, LP will post 3.47 EPS for the current year.

Western Midstream Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be paid a dividend of $0.93 per share. The ex-dividend date is Friday, July 31st. This represents a $3.72 annualized dividend and a dividend yield of 7.9%. Western Midstream Partners’s dividend payout ratio (DPR) is presently 121.57%.

Analyst Ratings Changes

WES has been the subject of several recent research reports. UBS Group upped their price target on Western Midstream Partners from $45.00 to $48.00 and gave the stock a “neutral” rating in a report on Friday, July 10th. Morgan Stanley upgraded Western Midstream Partners from an “underweight” rating to an “equal weight” rating and set a $51.00 price objective on the stock in a research note on Wednesday, June 10th. Wall Street Zen raised shares of Western Midstream Partners from a “hold” rating to a “buy” rating in a report on Sunday, July 12th. Stifel Nicolaus set a $46.00 target price on shares of Western Midstream Partners and gave the stock a “buy” rating in a research note on Thursday, May 7th. Finally, Mizuho increased their target price on shares of Western Midstream Partners from $48.00 to $51.00 and gave the company an “outperform” rating in a report on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $46.25.

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.