Alps Advisors Inc. Has $1.37 Billion Stake in Western Midstream Partners, LP $WES

Alps Advisors Inc. increased its holdings in shares of Western Midstream Partners, LP (NYSE:WES) by 0.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 34,774,726 shares of the pipeline company’s stock after acquiring an additional 98,819 shares during the quarter. Western Midstream Partners comprises about 7.6% of Alps Advisors Inc.’s investment portfolio, making the stock its largest holding. Alps Advisors Inc. owned approximately 9.12% of Western Midstream Partners worth $1,366,299,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Jones Financial Companies Lllp raised its position in shares of Western Midstream Partners by 86.1% in the third quarter. Jones Financial Companies Lllp now owns 908 shares of the pipeline company’s stock valued at $36,000 after buying an additional 420 shares in the last quarter. MTM Investment Management LLC acquired a new stake in Western Midstream Partners during the second quarter worth approximately $39,000. Allworth Financial LP bought a new position in Western Midstream Partners during the 2nd quarter worth $43,000. Ameritas Advisory Services LLC acquired a new position in Western Midstream Partners in the 2nd quarter valued at $49,000. Finally, Mather Group LLC. bought a new stake in shares of Western Midstream Partners during the 3rd quarter valued at $49,000. Institutional investors and hedge funds own 84.82% of the company’s stock.

Western Midstream Partners Stock Performance

NYSE WES opened at $41.08 on Friday. The firm’s fifty day moving average price is $40.16 and its two-hundred day moving average price is $39.22. The stock has a market cap of $16.76 billion, a PE ratio of 12.15 and a beta of 0.77. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.43 and a current ratio of 1.43. Western Midstream Partners, LP has a fifty-two week low of $33.60 and a fifty-two week high of $42.80.

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

Western Midstream Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Monday, February 2nd will be paid a $0.91 dividend. The ex-dividend date of this dividend is Monday, February 2nd. This represents a $3.64 annualized dividend and a dividend yield of 8.9%. Western Midstream Partners’s dividend payout ratio is currently 107.69%.

Analyst Ratings Changes

WES has been the subject of several recent analyst reports. Wells Fargo & Company cut their price objective on shares of Western Midstream Partners from $40.00 to $39.00 and set an “equal weight” rating for the company in a research report on Thursday, January 22nd. Wall Street Zen lowered shares of Western Midstream Partners from a “buy” rating to a “hold” rating in a research report on Saturday, December 27th. Stifel Nicolaus set a $43.00 price objective on shares of Western Midstream Partners in a research report on Thursday, November 6th. Citigroup assumed coverage on Western Midstream Partners in a research note on Monday, October 20th. They set a “neutral” rating and a $39.00 target price for the company. Finally, Royal Bank Of Canada lifted their price target on Western Midstream Partners from $39.00 to $42.00 and gave the company a “sector perform” rating in a research note on Friday, November 28th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Western Midstream Partners currently has an average rating of “Hold” and a consensus price target of $41.33.

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.