Alps Advisors Inc. Has $1.37 Billion Stock Holdings in Western Midstream Partners, LP $WES

Alps Advisors Inc. increased its holdings in Western Midstream Partners, LP (NYSE:WES) by 0.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 34,774,726 shares of the pipeline company’s stock after purchasing an additional 98,819 shares during the period. Western Midstream Partners accounts for approximately 7.6% of Alps Advisors Inc.’s investment portfolio, making the stock its biggest holding. Alps Advisors Inc. owned about 0.09% of Western Midstream Partners worth $1,366,299,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Militia Capital Partners LP raised its position in Western Midstream Partners by 6,733.3% during the 2nd quarter. Militia Capital Partners LP now owns 205,000 shares of the pipeline company’s stock worth $7,934,000 after purchasing an additional 202,000 shares during the last quarter. BROOKFIELD Corp ON raised its position in shares of Western Midstream Partners by 19.1% during the second quarter. BROOKFIELD Corp ON now owns 904,361 shares of the pipeline company’s stock worth $34,999,000 after acquiring an additional 145,094 shares during the last quarter. Empowered Funds LLC acquired a new position in shares of Western Midstream Partners in the second quarter worth approximately $4,748,000. Empirical Finance LLC acquired a new position in shares of Western Midstream Partners in the second quarter worth approximately $4,748,000. Finally, Bank of America Corp DE boosted its holdings in Western Midstream Partners by 9.4% in the second quarter. Bank of America Corp DE now owns 1,426,731 shares of the pipeline company’s stock valued at $55,215,000 after acquiring an additional 122,463 shares during the last quarter. 84.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on WES shares. Stifel Nicolaus set a $43.00 price target on shares of Western Midstream Partners in a report on Thursday, November 6th. Wall Street Zen downgraded shares of Western Midstream Partners from a “buy” rating to a “hold” rating in a research note on Saturday, December 27th. Wells Fargo & Company dropped their target price on shares of Western Midstream Partners from $40.00 to $39.00 and set an “equal weight” rating on the stock in a report on Thursday, January 22nd. Royal Bank Of Canada upped their price target on shares of Western Midstream Partners from $39.00 to $42.00 and gave the company a “sector perform” rating in a research report on Friday, November 28th. Finally, Citigroup started coverage on Western Midstream Partners in a research report on Monday, October 20th. They issued a “neutral” rating and a $39.00 price objective for the company. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $41.33.

Western Midstream Partners Stock Down 0.4%

Western Midstream Partners stock opened at $41.08 on Friday. The company has a market capitalization of $16.76 billion, a PE ratio of 12.15 and a beta of 0.77. Western Midstream Partners, LP has a 12-month low of $33.60 and a 12-month high of $42.80. The firm’s fifty day moving average is $40.16 and its 200 day moving average is $39.22. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 2.08.

Western Midstream Partners (NYSE:WES) last posted its quarterly earnings results on Tuesday, November 4th. The pipeline company reported $0.87 earnings per share for the quarter, meeting the consensus estimate of $0.87. Western Midstream Partners had a net margin of 35.18% and a return on equity of 39.37%. The firm had revenue of $952.48 million during the quarter, compared to the consensus estimate of $965.55 million. During the same period in the previous year, the firm posted $0.74 earnings per share. The business’s revenue was up 7.8% compared to the same quarter last year. As a group, sell-side analysts predict that Western Midstream Partners, LP will post 4.02 EPS for the current fiscal year.

Western Midstream Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Monday, February 2nd will be paid a $0.91 dividend. The ex-dividend date is Monday, February 2nd. This represents a $3.64 annualized dividend and a dividend yield of 8.9%. Western Midstream Partners’s dividend payout ratio (DPR) is currently 107.69%.

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.