JPMorgan Chase & Co. Reduces Position in Western Midstream Partners, LP $WES

JPMorgan Chase & Co. decreased its holdings in Western Midstream Partners, LP (NYSE:WES) by 22.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,452,851 shares of the pipeline company’s stock after selling 410,416 shares during the period. JPMorgan Chase & Co.’s holdings in Western Midstream Partners were worth $57,083,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Jones Financial Companies Lllp boosted its holdings in Western Midstream Partners by 86.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 908 shares of the pipeline company’s stock worth $36,000 after buying an additional 420 shares during the period. MTM Investment Management LLC purchased a new stake in shares of Western Midstream Partners during the second quarter worth $39,000. Allworth Financial LP bought a new position in shares of Western Midstream Partners in the second quarter worth $43,000. Mather Group LLC. purchased a new position in shares of Western Midstream Partners in the third quarter valued at $49,000. Finally, Global Retirement Partners LLC grew its position in shares of Western Midstream Partners by 39.0% in the third quarter. Global Retirement Partners LLC now owns 1,850 shares of the pipeline company’s stock valued at $73,000 after purchasing an additional 519 shares in the last quarter. Institutional investors own 84.82% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on WES. Stifel Nicolaus cut their target price on Western Midstream Partners from $43.00 to $42.00 and set a “hold” rating for the company in a research note on Friday, February 20th. Wall Street Zen downgraded shares of Western Midstream Partners from a “buy” rating to a “hold” rating in a report on Saturday, December 27th. Wells Fargo & Company reduced 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 note on Thursday, January 22nd. Finally, Royal Bank Of Canada upped 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. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $41.17.

Insider Transactions at Western Midstream Partners

In other news, SVP Christopher B. Dial sold 5,879 shares of the company’s stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $42.35, for a total value of $248,975.65. Following the completion of the transaction, the senior vice president directly owned 185,011 shares in the company, valued at approximately $7,835,215.85. This represents a 3.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.04% of the stock is currently owned by company insiders.

Western Midstream Partners Trading Up 0.0%

Shares of Western Midstream Partners stock opened at $41.00 on Thursday. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.34 and a quick ratio of 1.34. Western Midstream Partners, LP has a 1 year low of $33.60 and a 1 year high of $44.74. The firm has a market cap of $16.14 billion, a PE ratio of 13.67 and a beta of 0.77. The company has a 50 day simple moving average of $40.92 and a two-hundred day simple moving average of $39.41.

Western Midstream Partners (NYSE:WES) last issued its quarterly earnings results on Wednesday, February 18th. The pipeline company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.44). Western Midstream Partners had a return on equity of 33.14% and a net margin of 30.52%.The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the previous year, the company earned $0.85 EPS. Western Midstream Partners’s quarterly revenue was up 11.1% on a year-over-year basis. Analysts expect that Western Midstream Partners, LP will post 4.02 earnings per share for the current fiscal year.

Western Midstream Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Monday, February 2nd were given a dividend of $0.91 per share. The ex-dividend date was Monday, February 2nd. This represents a $3.64 dividend on an annualized basis and a yield of 8.9%. Western Midstream Partners’s dividend payout ratio (DPR) is presently 121.33%.

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.