Atria Investments Inc Has $261,000 Stock Position in Western Midstream Partners, LP (NYSE:WES)

Atria Investments Inc lessened its position in shares of Western Midstream Partners, LP (NYSE:WES) by 17.8% in the third quarter, HoldingsChannel.com reports. The firm owned 6,826 shares of the pipeline company’s stock after selling 1,482 shares during the quarter. Atria Investments Inc’s holdings in Western Midstream Partners were worth $261,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in WES. Blackstone Inc. increased its position in shares of Western Midstream Partners by 2.0% during the first quarter. Blackstone Inc. now owns 12,980,724 shares of the pipeline company’s stock worth $461,465,000 after buying an additional 259,928 shares during the period. Chickasaw Capital Management LLC boosted its position in Western Midstream Partners by 0.6% during the second quarter. Chickasaw Capital Management LLC now owns 6,711,006 shares of the pipeline company’s stock valued at $266,628,000 after acquiring an additional 37,259 shares during the last quarter. BROOKFIELD Corp ON boosted its position in Western Midstream Partners by 2.7% during the first quarter. BROOKFIELD Corp ON now owns 2,953,510 shares of the pipeline company’s stock valued at $104,997,000 after acquiring an additional 77,942 shares during the last quarter. Fractal Investments LLC grew its holdings in Western Midstream Partners by 5.4% during the 3rd quarter. Fractal Investments LLC now owns 1,465,706 shares of the pipeline company’s stock worth $56,078,000 after acquiring an additional 75,145 shares during the period. Finally, Miller Howard Investments Inc. NY raised its position in shares of Western Midstream Partners by 2.8% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 1,458,530 shares of the pipeline company’s stock worth $57,947,000 after acquiring an additional 39,827 shares in the last quarter. Institutional investors own 42.94% of the company’s stock.

Western Midstream Partners Trading Up 2.5 %

NYSE:WES opened at $38.86 on Friday. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.11 and a quick ratio of 1.11. Western Midstream Partners, LP has a one year low of $26.81 and a one year high of $42.80. The company has a market cap of $14.79 billion, a PE ratio of 9.96, a PEG ratio of 0.72 and a beta of 2.88. The firm has a 50-day moving average of $38.34 and a 200-day moving average of $38.62.

Western Midstream Partners (NYSE:WES) last issued its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.74 EPS 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 company had revenue of $883.36 million for the quarter, compared to the consensus estimate of $924.83 million. During the same period in the prior year, the firm posted $0.70 earnings per share. The business’s revenue for the quarter was up 13.8% on a year-over-year basis. As a group, equities research analysts expect that Western Midstream Partners, LP will post 4.09 EPS for the current fiscal year.

Western Midstream Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were given a $0.875 dividend. This represents a $3.50 dividend on an annualized basis and a yield of 9.01%. The ex-dividend date was Friday, November 1st. Western Midstream Partners’s payout ratio is currently 89.29%.

Analyst Ratings Changes

WES has been the topic of several research analyst reports. Bank of America initiated coverage on Western Midstream Partners in a research report on Thursday, October 17th. They set an “underperform” rating and a $37.00 target price on the stock. Morgan Stanley downgraded shares of Western Midstream Partners from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $42.00 to $40.00 in a research report on Friday, October 25th. UBS Group dropped their target price on shares of Western Midstream Partners from $40.00 to $37.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. StockNews.com cut shares of Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, October 28th. Finally, Royal Bank of Canada upped their price objective on shares of Western Midstream Partners from $38.00 to $41.00 and gave the company a “sector perform” rating in a report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Western Midstream Partners presently has a consensus rating of “Hold” and a consensus price target of $37.88.

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.