Terril Brothers Inc. Decreases Stake in Western Midstream Partners, LP (NYSE:WES)

Terril Brothers Inc. lessened its position in shares of Western Midstream Partners, LP (NYSE:WES) by 0.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 246,867 shares of the pipeline company’s stock after selling 275 shares during the period. Western Midstream Partners makes up about 3.5% of Terril Brothers Inc.’s holdings, making the stock its 9th biggest position. Terril Brothers Inc. owned 0.06% of Western Midstream Partners worth $9,808,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Eagle Bay Advisors LLC bought a new stake in Western Midstream Partners during the 1st quarter worth approximately $29,000. American National Bank grew its stake in Western Midstream Partners by 34.5% in the 1st quarter. American National Bank now owns 1,190 shares of the pipeline company’s stock worth $42,000 after buying an additional 305 shares in the last quarter. Retirement Group LLC grew its stake in Western Midstream Partners by 40.2% in the 1st quarter. Retirement Group LLC now owns 1,591 shares of the pipeline company’s stock worth $57,000 after buying an additional 456 shares in the last quarter. Triad Wealth Partners LLC purchased a new position in Western Midstream Partners in the 2nd quarter worth approximately $78,000. Finally, Mather Group LLC. purchased a new position in Western Midstream Partners in the 1st quarter worth approximately $82,000. Institutional investors own 42.94% of the company’s stock.

Western Midstream Partners Trading Up 0.6 %

Shares of WES opened at $39.79 on Tuesday. The stock has a market capitalization of $15.14 billion, a P/E ratio of 11.21, a PEG ratio of 0.73 and a beta of 2.87. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.08. The firm has a fifty day simple moving average of $39.37 and a two-hundred day simple moving average of $37.50. Western Midstream Partners, LP has a twelve month low of $25.71 and a twelve month high of $42.80.

Western Midstream Partners (NYSE:WES) last announced its quarterly earnings results on Wednesday, August 7th. The pipeline company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.09. The business had revenue of $905.63 million during the quarter, compared to analysts’ expectations of $904.94 million. Western Midstream Partners had a net margin of 44.01% and a return on equity of 47.19%. The firm’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.64 EPS. On average, research analysts anticipate that Western Midstream Partners, LP will post 4.16 EPS for the current year.

Western Midstream Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st were given a dividend of $0.875 per share. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $3.50 annualized dividend and a yield of 8.80%. Western Midstream Partners’s payout ratio is currently 98.59%.

Insider Buying and Selling at Western Midstream Partners

In other Western Midstream Partners news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total value of $697,125,000.00. Following the completion of the transaction, the insider now directly owns 165,681,578 shares in the company, valued at approximately $5,923,116,413.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.04% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

WES has been the subject of a number of research reports. Morgan Stanley cut shares of Western Midstream Partners from an “overweight” rating to an “equal weight” rating and set a $42.00 price target for the company. in a research note on Monday. Stifel Nicolaus boosted their price target on shares of Western Midstream Partners from $39.00 to $40.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. Royal Bank of Canada upped their price objective on shares of Western Midstream Partners from $36.00 to $38.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 27th. Wells Fargo & Company upped their price objective on shares of Western Midstream Partners from $34.00 to $35.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 21st. Finally, StockNews.com raised shares of Western Midstream Partners from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Western Midstream Partners presently has an average rating of “Hold” and a consensus price target of $35.25.

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.