Tectonic Advisors LLC Acquires 3,092 Shares of Western Midstream Partners, LP (NYSE:WES)

Tectonic Advisors LLC lifted its holdings in Western Midstream Partners, LP (NYSE:WES) by 2.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 133,148 shares of the pipeline company’s stock after purchasing an additional 3,092 shares during the period. Tectonic Advisors LLC’s holdings in Western Midstream Partners were worth $5,094,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Eagle Bay Advisors LLC bought a new position in shares of Western Midstream Partners in the first quarter worth about $29,000. Retirement Group LLC increased its stake in shares of Western Midstream Partners by 40.2% in the first quarter. Retirement Group LLC now owns 1,591 shares of the pipeline company’s stock worth $57,000 after purchasing an additional 456 shares during the period. EverSource Wealth Advisors LLC bought a new position in shares of Western Midstream Partners in the second quarter worth about $74,000. Triad Wealth Partners LLC bought a new position in shares of Western Midstream Partners in the second quarter worth about $78,000. Finally, Cedar Mountain Advisors LLC increased its stake in shares of Western Midstream Partners by 16.1% in the third quarter. Cedar Mountain Advisors LLC now owns 2,158 shares of the pipeline company’s stock worth $83,000 after purchasing an additional 299 shares during the period. 42.94% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

WES has been the topic of several research reports. Stifel Nicolaus boosted their price target on Western Midstream Partners from $39.00 to $40.00 and gave the company a “hold” rating in a research note on Friday, August 9th. UBS Group boosted their price target on Western Midstream Partners from $38.00 to $39.00 and gave the company a “neutral” rating in a research note on Wednesday, September 18th. Bank of America initiated coverage on Western Midstream Partners in a research note on Thursday, October 17th. They set an “underperform” rating and a $37.00 price target on the stock. Morgan Stanley lowered Western Midstream Partners from an “overweight” rating to an “equal weight” rating and set a $42.00 price target on the stock. in a research note on Monday, September 16th. Finally, StockNews.com upgraded Western Midstream Partners from a “buy” rating to a “strong-buy” rating in a research note on Sunday, October 20th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $38.38.

Insiders Place Their Bets

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the transaction, the insider now directly owns 165,681,578 shares of the company’s stock, valued at approximately $5,923,116,413.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.04% of the company’s stock.

Western Midstream Partners Trading Up 0.8 %

Western Midstream Partners stock opened at $38.63 on Friday. The firm has a 50-day moving average of $38.64 and a 200-day moving average of $38.31. Western Midstream Partners, LP has a one year low of $26.49 and a one year high of $42.80. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.68 and a quick ratio of 1.68. The company has a market cap of $14.70 billion, a price-to-earnings ratio of 10.88, a P/E/G ratio of 0.72 and a beta of 2.87.

Western Midstream Partners (NYSE:WES) last issued its earnings results on Wednesday, August 7th. The pipeline company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.09. Western Midstream Partners had a net margin of 44.01% and a return on equity of 47.19%. The business had revenue of $905.63 million during the quarter, compared to the consensus estimate of $904.94 million. During the same period last year, the business posted $0.64 EPS. Western Midstream Partners’s revenue was up 22.7% on a year-over-year basis. On average, equities analysts expect that Western Midstream Partners, LP will post 4.13 earnings per share for the current fiscal year.

Western Midstream Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Friday, November 1st will be given a dividend of $0.875 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $3.50 annualized dividend and a yield of 9.06%. Western Midstream Partners’s dividend payout ratio (DPR) is presently 98.59%.

Western Midstream Partners 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.