ProShare Advisors LLC Trims Holdings in Western Midstream Partners, LP (NYSE:WES)

ProShare Advisors LLC reduced its position in Western Midstream Partners, LP (NYSE:WES) by 9.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,823 shares of the pipeline company’s stock after selling 1,507 shares during the quarter. ProShare Advisors LLC’s holdings in Western Midstream Partners were worth $589,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of WES. American National Bank increased its holdings 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 valued at $42,000 after acquiring an additional 305 shares during the last quarter. Albert D Mason Inc. lifted its position in shares of Western Midstream Partners by 0.7% in the second quarter. Albert D Mason Inc. now owns 48,760 shares of the pipeline company’s stock worth $1,937,000 after buying an additional 333 shares in the last quarter. Belfer Management LLC boosted its stake in Western Midstream Partners by 4.4% during the first quarter. Belfer Management LLC now owns 9,957 shares of the pipeline company’s stock valued at $354,000 after buying an additional 418 shares during the last quarter. Retirement Group LLC grew its holdings in Western Midstream Partners by 40.2% during the 1st quarter. Retirement Group LLC now owns 1,591 shares of the pipeline company’s stock valued at $57,000 after buying an additional 456 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. increased its stake in Western Midstream Partners by 1.7% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 34,109 shares of the pipeline company’s stock worth $1,213,000 after acquiring an additional 554 shares during the last quarter. Institutional investors own 42.94% of the company’s stock.

Western Midstream Partners Trading Up 0.7 %

Shares of NYSE WES opened at $38.22 on Monday. Western Midstream Partners, LP has a fifty-two week low of $26.14 and a fifty-two week high of $42.80. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.68 and a current ratio of 1.68. The company has a market cap of $14.54 billion, a price-to-earnings ratio of 10.77, a PEG ratio of 0.74 and a beta of 2.87. The business’s 50 day moving average price is $38.88 and its 200-day moving average price is $37.85.

Western Midstream Partners (NYSE:WES) last released its earnings results on Wednesday, August 7th. The pipeline company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.09. The business had revenue of $905.63 million for the quarter, compared to analyst estimates of $904.94 million. Western Midstream Partners had a return on equity of 47.19% and a net margin of 44.01%. The business’s revenue was up 22.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.64 earnings per share. On average, sell-side analysts expect that Western Midstream Partners, LP will post 4.16 earnings per share for the current year.

Western Midstream Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st were given a $0.875 dividend. The ex-dividend date was Thursday, August 1st. This represents a $3.50 annualized dividend and a yield of 9.16%. Western Midstream Partners’s dividend payout ratio (DPR) is 98.59%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Stifel Nicolaus increased their target price on Western Midstream Partners from $39.00 to $40.00 and gave the company a “hold” rating in a research report on Friday, August 9th. UBS Group increased their price objective on shares of Western Midstream Partners from $38.00 to $39.00 and gave the company a “neutral” rating in a research report on Wednesday, September 18th. Morgan Stanley downgraded shares of Western Midstream Partners from an “overweight” rating to an “equal weight” rating and set a $42.00 target price on the stock. in a report on Monday, September 16th. StockNews.com downgraded shares of Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 17th. Finally, Royal Bank of Canada boosted their price objective on Western Midstream Partners from $36.00 to $38.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 27th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $36.75.

Insiders Place Their Bets

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of Western Midstream Partners stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the completion of the sale, the insider now owns 165,681,578 shares of the company’s stock, valued at $5,923,116,413.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.04% of the company’s stock.

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.