Truist Financial Corp Acquires 421 Shares of Western Midstream Partners, LP (NYSE:WES)

Truist Financial Corp increased its stake in shares of Western Midstream Partners, LP (NYSE:WES) by 1.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,508 shares of the pipeline company’s stock after buying an additional 421 shares during the period. Truist Financial Corp’s holdings in Western Midstream Partners were worth $894,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in WES. Eagle Bay Advisors LLC bought a new stake in shares of Western Midstream Partners during the first quarter valued at approximately $29,000. American National Bank boosted its position 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 buying an additional 305 shares during the last quarter. Retirement Group LLC increased its stake in shares of Western Midstream Partners by 40.2% in 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 during the period. EverSource Wealth Advisors LLC bought a new stake in shares of Western Midstream Partners during the second quarter worth $74,000. Finally, Triad Wealth Partners LLC acquired a new position in shares of Western Midstream Partners during the second quarter valued at $78,000. Institutional investors own 42.94% of the company’s stock.

Western Midstream Partners Stock Performance

Shares of Western Midstream Partners stock opened at $39.42 on Tuesday. Western Midstream Partners, LP has a 12 month low of $26.49 and a 12 month high of $42.80. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.08. The company has a market capitalization of $15.00 billion, a PE ratio of 11.10, a PEG ratio of 0.74 and a beta of 2.87. The stock’s fifty day simple moving average is $38.62 and its 200 day simple moving average is $38.19.

Western Midstream Partners (NYSE:WES) last issued its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.97 earnings per share (EPS) 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 analyst estimates of $904.94 million. Western Midstream Partners had a return on equity of 47.19% and a net margin of 44.01%. Western Midstream Partners’s quarterly revenue was up 22.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.64 EPS. On average, research analysts predict that Western Midstream Partners, LP will post 4.16 EPS for the current year.

Western Midstream Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 1st were given a $0.875 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $3.50 annualized dividend and a yield of 8.88%. Western Midstream Partners’s dividend payout ratio is currently 98.59%.

Insider Buying and Selling

In other Western Midstream Partners news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of Western Midstream Partners stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total value of $697,125,000.00. Following the sale, the insider now owns 165,681,578 shares of the company’s stock, valued at $5,923,116,413.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.04% of the company’s stock.

Analyst Ratings Changes

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

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.