Adams Asset Advisors LLC Grows Holdings in Western Midstream Partners, LP (NYSE:WES)

Adams Asset Advisors LLC raised its position in Western Midstream Partners, LP (NYSE:WES) by 0.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 323,781 shares of the pipeline company’s stock after purchasing an additional 2,139 shares during the period. Western Midstream Partners makes up approximately 1.6% of Adams Asset Advisors LLC’s investment portfolio, making the stock its 14th biggest position. Adams Asset Advisors LLC’s holdings in Western Midstream Partners were worth $12,443,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of WES. Farther Finance Advisors LLC grew its position in shares of Western Midstream Partners by 287.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,437 shares of the pipeline company’s stock worth $55,000 after acquiring an additional 1,066 shares in the last quarter. Kieckhefer Group LLC acquired a new position in Western Midstream Partners in the fourth quarter worth $58,000. EverSource Wealth Advisors LLC bought a new stake in Western Midstream Partners during the second quarter valued at $74,000. Avondale Wealth Management acquired a new stake in shares of Western Midstream Partners during the fourth quarter worth $77,000. Finally, Cedar Mountain Advisors LLC lifted its position in shares of Western Midstream Partners by 16.1% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 2,158 shares of the pipeline company’s stock worth $83,000 after buying an additional 299 shares during the last quarter. 84.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Bank of America assumed coverage on Western Midstream Partners in a research report on Thursday, October 17th. They set an “underperform” rating and a $37.00 price objective for the company. UBS Group dropped their price objective on shares of Western Midstream Partners from $40.00 to $37.00 and set a “neutral” rating on the stock in a report on Friday, November 15th. StockNews.com lowered shares of Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 28th. US Capital Advisors upgraded shares of Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $41.00 price objective on shares of Western Midstream Partners in a report on Monday, December 9th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Western Midstream Partners has a consensus rating of “Hold” and a consensus price target of $37.88.

Western Midstream Partners Price Performance

NYSE WES traded up $0.36 on Monday, reaching $40.06. The company’s stock had a trading volume of 505,450 shares, compared to its average volume of 905,715. Western Midstream Partners, LP has a twelve month low of $27.49 and a twelve month high of $42.80. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.11 and a current ratio of 1.11. The firm’s 50 day moving average is $38.78 and its two-hundred day moving average is $39.06. The stock has a market cap of $15.25 billion, a PE ratio of 10.22, a PEG ratio of 1.08 and a beta of 2.90.

Western Midstream Partners (NYSE:WES) last issued its earnings results on Wednesday, November 6th. The pipeline company reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.09). Western Midstream Partners had a return on equity of 46.02% and a net margin of 42.99%. The business had revenue of $883.36 million for the quarter, compared to the consensus estimate of $924.83 million. During the same quarter in the previous year, the business posted $0.70 earnings per share. The company’s quarterly revenue was up 13.8% on a year-over-year basis. As a group, sell-side analysts predict that Western Midstream Partners, LP will post 4.03 EPS for the current year.

Western Midstream Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were paid a $0.875 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.50 dividend on an annualized basis and a yield of 8.74%. Western Midstream Partners’s dividend payout ratio is currently 89.29%.

About Western Midstream Partners

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.