Western Midstream Partners, LP (NYSE:WES) Position Boosted by BNP Paribas Financial Markets

BNP Paribas Financial Markets lifted its stake in Western Midstream Partners, LP (NYSE:WES) by 6.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 996,018 shares of the pipeline company’s stock after purchasing an additional 60,603 shares during the quarter. BNP Paribas Financial Markets owned 0.26% of Western Midstream Partners worth $38,108,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Kayne Anderson Capital Advisors LP lifted its position in Western Midstream Partners by 23.5% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 6,228,448 shares of the pipeline company’s stock worth $238,300,000 after buying an additional 1,184,597 shares in the last quarter. ING Groep NV raised its holdings in shares of Western Midstream Partners by 81.0% during the third quarter. ING Groep NV now owns 746,587 shares of the pipeline company’s stock worth $28,564,000 after acquiring an additional 334,187 shares in the last quarter. Citigroup Inc. boosted its position in Western Midstream Partners by 322.1% during the third quarter. Citigroup Inc. now owns 406,587 shares of the pipeline company’s stock valued at $15,556,000 after purchasing an additional 310,260 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its stake in Western Midstream Partners by 10.1% in the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,315,472 shares of the pipeline company’s stock valued at $50,330,000 after purchasing an additional 120,202 shares in the last quarter. Finally, Fractal Investments LLC increased its position in Western Midstream Partners by 5.4% in the 3rd quarter. Fractal Investments LLC now owns 1,465,706 shares of the pipeline company’s stock worth $56,078,000 after purchasing an additional 75,145 shares during the last quarter. 42.94% of the stock is currently owned by institutional investors and hedge funds.

Western Midstream Partners Trading Up 2.3 %

Shares of NYSE:WES opened at $39.63 on Friday. 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 stock’s 50-day moving average is $38.27 and its 200-day moving average is $38.73. The company has a market cap of $15.08 billion, a P/E ratio of 10.11, a P/E/G ratio of 1.07 and a beta of 2.88. Western Midstream Partners, LP has a 52-week low of $26.81 and a 52-week high of $42.80.

Western Midstream Partners (NYSE:WES) last released its earnings results on Wednesday, November 6th. The pipeline company reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.09). Western Midstream Partners had a net margin of 42.99% and a return on equity of 46.02%. The business had revenue of $883.36 million during the quarter, compared to analyst estimates of $924.83 million. During the same period last year, the business earned $0.70 EPS. The business’s quarterly revenue was up 13.8% compared to the same quarter last year. Equities research analysts predict that Western Midstream Partners, LP will post 4.05 earnings per share for the current year.

Western Midstream Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were given a dividend of $0.875 per share. This represents a $3.50 dividend on an annualized basis and a yield of 8.83%. The ex-dividend date was Friday, November 1st. Western Midstream Partners’s dividend payout ratio (DPR) is currently 89.29%.

Analysts Set New Price Targets

WES has been the subject of several research reports. US Capital Advisors upgraded Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a report on Tuesday. Morgan Stanley downgraded shares of Western Midstream Partners from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $42.00 to $40.00 in a research report on Friday, October 25th. Bank of America initiated coverage on shares of Western Midstream Partners in a report on Thursday, October 17th. They set an “underperform” rating and a $37.00 price target on the stock. Royal Bank of Canada upped their price objective on shares of Western Midstream Partners from $38.00 to $41.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 16th. Finally, Stifel Nicolaus raised their target price on Western Midstream Partners from $39.00 to $40.00 and gave the company a “hold” rating in a report on Friday, August 9th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $37.88.

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.