ProShare Advisors LLC Has $604,000 Holdings in Western Midstream Partners, LP $WES

ProShare Advisors LLC grew its stake in Western Midstream Partners, LP (NYSE:WES) by 20.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,602 shares of the pipeline company’s stock after acquiring an additional 2,625 shares during the period. ProShare Advisors LLC’s holdings in Western Midstream Partners were worth $604,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Financial Network Wealth Advisors LLC increased its holdings in shares of Western Midstream Partners by 1,856.4% in the first quarter. Financial Network Wealth Advisors LLC now owns 763 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 724 shares in the last quarter. Sound Income Strategies LLC bought a new position in Western Midstream Partners in the 2nd quarter valued at $39,000. Ameritas Advisory Services LLC bought a new position in Western Midstream Partners in the 2nd quarter valued at $49,000. Iron Horse Wealth Management LLC acquired a new stake in shares of Western Midstream Partners in the 2nd quarter valued at $58,000. Finally, Militia Capital Partners LP bought a new stake in shares of Western Midstream Partners during the first quarter worth $123,000. 84.82% of the stock is owned by institutional investors.

Western Midstream Partners Stock Up 0.1%

Western Midstream Partners stock opened at $39.05 on Wednesday. The firm has a market capitalization of $15.93 billion, a price-to-earnings ratio of 12.02 and a beta of 1.14. The company’s 50 day simple moving average is $38.45 and its 200 day simple moving average is $38.63. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.30 and a quick ratio of 1.30. Western Midstream Partners, LP has a fifty-two week low of $33.60 and a fifty-two week high of $43.33.

Western Midstream Partners (NYSE:WES) last posted its earnings results on Tuesday, November 4th. The pipeline company reported $0.87 earnings per share for the quarter, hitting the consensus estimate of $0.87. The company had revenue of $952.48 million for the quarter, compared to analyst estimates of $965.55 million. Western Midstream Partners had a net margin of 34.45% and a return on equity of 37.70%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period last year, the business posted $0.74 earnings per share. As a group, sell-side analysts anticipate that Western Midstream Partners, LP will post 4.02 EPS for the current year.

Western Midstream Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, October 31st were issued a dividend of $0.91 per share. The ex-dividend date was Friday, October 31st. This represents a $3.64 annualized dividend and a yield of 9.3%. Western Midstream Partners’s payout ratio is currently 107.69%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Wells Fargo & Company raised their price target on Western Midstream Partners from $38.00 to $40.00 and gave the company an “equal weight” rating in a report on Thursday, November 13th. Citigroup started coverage on shares of Western Midstream Partners in a research note on Monday, October 20th. They issued a “neutral” rating and a $39.00 target price on the stock. Morgan Stanley dropped their price target on shares of Western Midstream Partners from $41.00 to $39.00 and set an “underweight” rating for the company in a research note on Tuesday, August 26th. Royal Bank Of Canada raised their price objective on shares of Western Midstream Partners from $38.00 to $39.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 26th. Finally, Stifel Nicolaus set a $43.00 target price on shares of Western Midstream Partners in a report on Thursday, November 6th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Western Midstream Partners has a consensus rating of “Hold” and a consensus price target of $41.00.

Western Midstream Partners Company Profile

Western Midstream Partners, LP, together with its subsidiaries, operates as a midstream energy company primarily in the United States. It is involved in gathering, compressing, treating, processing, and transporting natural gas; gathering, stabilizing, and transporting condensate, natural gas liquids (NGLs), and crude oil; and gathering and disposing produced water.