Western Midstream Partners (NYSE:WES) Sets New 52-Week High on Insider Buying Activity

Western Midstream Partners, LP (NYSE:WES)’s stock price reached a new 52-week high during mid-day trading on Wednesday following insider buying activity. The company traded as high as $48.63 and last traded at $48.4580, with a volume of 57680 shares trading hands. The stock had previously closed at $48.12.

Specifically, Director Frederick A. Forthuber bought 5,140 shares of the company’s stock in a transaction dated Wednesday, August 12th. The shares were purchased at an average price of $48.62 per share, for a total transaction of $249,906.80. Following the completion of the purchase, the director owned 5,140 shares in the company, valued at approximately $249,906.80. This represents a ? increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on WES shares. UBS Group raised their price target on shares of Western Midstream Partners from $45.00 to $48.00 and gave the company a “neutral” rating in a research report on Friday, July 10th. JPMorgan Chase & Co. increased their target price on Western Midstream Partners from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. Wall Street Zen cut Western Midstream Partners from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. US Capital Advisors raised Western Midstream Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, May 29th. Finally, Wells Fargo & Company increased their price objective on Western Midstream Partners from $43.00 to $46.00 and gave the company an “equal weight” rating in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $47.00.

Western Midstream Partners Stock Performance

The firm has a market cap of $19.98 billion, a P/E ratio of 15.21, a P/E/G ratio of 1.98 and a beta of 0.68. 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 business’s 50-day simple moving average is $45.28 and its 200 day simple moving average is $43.31.

Western Midstream Partners (NYSE:WES) last released its quarterly earnings results on Wednesday, August 5th. The pipeline company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.08. Western Midstream Partners had a return on equity of 34.79% and a net margin of 29.44%.The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period last year, the business posted $0.87 EPS. The company’s revenue for the quarter was up 30.0% on a year-over-year basis. As a group, equities analysts predict that Western Midstream Partners, LP will post 3.52 earnings per share for the current year.

Western Midstream Partners Announces Dividend

The company also recently announced 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. This represents a $3.72 annualized dividend and a yield of 7.7%. The ex-dividend date of this dividend is Friday, July 31st. Western Midstream Partners’s dividend payout ratio (DPR) is presently 116.98%.

Institutional Investors Weigh In On Western Midstream Partners

Large investors have recently made changes to their positions in the company. Alps Advisors Inc. lifted its stake in shares of Western Midstream Partners by 0.9% in the 4th quarter. Alps Advisors Inc. now owns 35,074,357 shares of the pipeline company’s stock worth $1,385,437,000 after purchasing an additional 299,631 shares during the period. Invesco Ltd. grew its position in Western Midstream Partners by 0.3% during the third quarter. Invesco Ltd. now owns 24,292,437 shares of the pipeline company’s stock valued at $954,450,000 after buying an additional 81,183 shares during the period. Goldman Sachs Group Inc. grew its position in Western Midstream Partners by 10.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 9,562,213 shares of the pipeline company’s stock valued at $377,707,000 after buying an additional 936,376 shares during the period. Tortoise Capital Advisors L.L.C. increased its holdings in Western Midstream Partners by 15.8% during the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 8,539,175 shares of the pipeline company’s stock valued at $337,297,000 after buying an additional 1,163,991 shares during the last quarter. Finally, Morgan Stanley raised its position in Western Midstream Partners by 98.1% in the fourth quarter. Morgan Stanley now owns 5,446,475 shares of the pipeline company’s stock worth $215,136,000 after acquiring an additional 2,696,439 shares during the period. 84.82% of the stock is currently owned by institutional investors.

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.