Maryland State Retirement & Pension System Boosts Stock Position in Western Midstream Partners, LP $WES

Maryland State Retirement & Pension System raised its holdings in Western Midstream Partners, LP (NYSE:WES) by 12.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 197,949 shares of the pipeline company’s stock after buying an additional 22,689 shares during the period. Maryland State Retirement & Pension System’s holdings in Western Midstream Partners were worth $7,777,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Kingstone Capital Partners Texas LLC bought a new position in shares of Western Midstream Partners in the second quarter worth about $156,967,000. Militia Capital Partners LP boosted its position in Western Midstream Partners by 6,733.3% in the 2nd quarter. Militia Capital Partners LP now owns 205,000 shares of the pipeline company’s stock valued at $7,934,000 after buying an additional 202,000 shares during the period. BROOKFIELD Corp ON grew its stake in Western Midstream Partners by 19.1% in the 2nd quarter. BROOKFIELD Corp ON now owns 904,361 shares of the pipeline company’s stock worth $34,999,000 after acquiring an additional 145,094 shares in the last quarter. Empirical Finance LLC purchased a new position in shares of Western Midstream Partners during the second quarter worth approximately $4,748,000. Finally, Empowered Funds LLC bought a new stake in shares of Western Midstream Partners during the second quarter valued at approximately $4,748,000. 84.82% of the stock is currently owned by institutional investors.

Western Midstream Partners Price Performance

Shares of WES stock opened at $41.61 on Friday. The stock’s 50-day moving average is $39.59 and its 200 day moving average is $39.07. Western Midstream Partners, LP has a 1-year low of $33.60 and a 1-year high of $43.33. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.43 and a quick ratio of 1.43. The company has a market cap of $16.98 billion, a P/E ratio of 12.31 and a beta of 0.76.

Western Midstream Partners (NYSE:WES) last released its quarterly earnings results on Tuesday, November 4th. The pipeline company reported $0.87 EPS for the quarter, meeting the consensus estimate of $0.87. Western Midstream Partners had a net margin of 35.18% and a return on equity of 39.37%. The business had revenue of $952.48 million during the quarter, compared to analyst estimates of $965.55 million. During the same period in the prior year, the firm posted $0.74 earnings per share. The company’s quarterly revenue was up 7.8% on a year-over-year basis. Research analysts predict that Western Midstream Partners, LP will post 4.02 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

WES has been the topic of several research analyst reports. Stifel Nicolaus set a $43.00 price objective on Western Midstream Partners in a research note on Thursday, November 6th. Wall Street Zen downgraded Western Midstream Partners from a “buy” rating to a “hold” rating in a research report on Saturday, December 27th. Citigroup assumed coverage on Western Midstream Partners in a report on Monday, October 20th. They issued a “neutral” rating and a $39.00 price objective for the company. Royal Bank Of Canada increased their target price on shares of Western Midstream Partners from $39.00 to $42.00 and gave the stock a “sector perform” rating in a report on Friday, November 28th. Finally, Wells Fargo & Company raised their target price on shares of Western Midstream Partners from $38.00 to $40.00 and gave the company an “equal weight” rating in a research report on Thursday, November 13th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Western Midstream Partners currently has a consensus rating of “Hold” and an average target price of $41.50.

About Western Midstream Partners

Western Midstream Partners, LP (NYSE: WES) is a midstream energy infrastructure company that owns, operates and develops an integrated network of crude oil, natural gas and produced water gathering, processing, transportation and storage assets in the United States. The partnership’s primary offerings include pipeline transportation, fractionation services, natural gas liquids (NGL) logistics and produced water handling. Through its fee-based and commodity-based contracts, Western Midstream provides its customers with essential services that support efficient energy production and distribution.

The company’s asset portfolio spans key onshore basins, including the Delaware Basin in West Texas and southeastern New Mexico, the San Juan Basin in New Mexico and Colorado, and the Denver-Julesburg Basin in Colorado.