Rockefeller Capital Management L.P. Lowers Stake in Western Midstream Partners, LP (NYSE:WES)

Rockefeller Capital Management L.P. trimmed its holdings in Western Midstream Partners, LP (NYSE:WES) by 3.6% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 38,828 shares of the pipeline company’s stock after selling 1,430 shares during the period. Rockefeller Capital Management L.P.’s holdings in Western Midstream Partners were worth $1,486,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. BBR Partners LLC purchased a new stake in Western Midstream Partners during the 3rd quarter valued at approximately $574,000. Hardy Reed LLC raised its stake in shares of Western Midstream Partners by 30.8% during the third quarter. Hardy Reed LLC now owns 14,850 shares of the pipeline company’s stock worth $568,000 after purchasing an additional 3,500 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Western Midstream Partners by 6.5% during the third quarter. BNP Paribas Financial Markets now owns 996,018 shares of the pipeline company’s stock worth $38,108,000 after purchasing an additional 60,603 shares during the period. D.A. Davidson & CO. grew its position in Western Midstream Partners by 30.0% in the 3rd quarter. D.A. Davidson & CO. now owns 44,704 shares of the pipeline company’s stock valued at $1,710,000 after buying an additional 10,319 shares during the last quarter. Finally, Brown Brothers Harriman & Co. increased its stake in Western Midstream Partners by 1,430.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 8,782 shares of the pipeline company’s stock valued at $336,000 after buying an additional 8,208 shares during the period. Institutional investors and hedge funds own 42.94% of the company’s stock.

Wall Street Analysts Forecast Growth

WES has been the subject of several recent analyst reports. UBS Group reduced their target price on shares of Western Midstream Partners from $40.00 to $37.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. Royal Bank of Canada raised 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 research report on Wednesday, October 16th. Morgan Stanley cut Western Midstream Partners from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $42.00 to $40.00 in a research report on Friday, October 25th. StockNews.com cut Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, October 28th. Finally, Bank of America initiated coverage on Western Midstream Partners in a report on Thursday, October 17th. They set an “underperform” rating and a $37.00 price objective on the stock. 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’s stock. According to data from MarketBeat.com, Western Midstream Partners currently has an average rating of “Hold” and an average price target of $37.88.

Western Midstream Partners Trading Down 0.3 %

NYSE:WES opened at $40.24 on Friday. The company has a market capitalization of $15.31 billion, a PE ratio of 10.27, a price-to-earnings-growth ratio of 1.08 and a beta of 2.90. Western Midstream Partners, LP has a 52-week low of $26.81 and a 52-week high of $42.80. The stock has a fifty day simple moving average of $38.48 and a 200-day simple moving average of $38.84. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.05.

Western Midstream Partners (NYSE:WES) last announced its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts’ expectations of $924.83 million. During the same period last year, the company earned $0.70 EPS. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. On average, equities research analysts expect that Western Midstream Partners, LP will post 4.05 earnings per share for the current fiscal year.

Western Midstream Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were issued a dividend of $0.875 per share. This represents a $3.50 dividend on an annualized basis and a yield of 8.70%. The ex-dividend date was Friday, November 1st. Western Midstream Partners’s dividend payout ratio (DPR) is presently 89.29%.

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.