Spirit of America Management Corp NY Has $3.96 Million Stock Position in Western Midstream Partners, LP $WES

Spirit of America Management Corp NY cut its holdings in shares of Western Midstream Partners, LP (NYSE:WES) by 21.2% in the 4th quarter, HoldingsChannel reports. The fund owned 100,150 shares of the pipeline company’s stock after selling 27,000 shares during the period. Western Midstream Partners makes up approximately 0.8% of Spirit of America Management Corp NY’s investment portfolio, making the stock its 29th biggest holding. Spirit of America Management Corp NY’s holdings in Western Midstream Partners were worth $3,956,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in WES. Alps Advisors Inc. lifted its position in Western Midstream Partners by 0.3% in the 3rd quarter. Alps Advisors Inc. now owns 34,774,726 shares of the pipeline company’s stock valued at $1,366,299,000 after acquiring an additional 98,819 shares in the last quarter. Invesco Ltd. increased its holdings in Western Midstream Partners by 0.3% during the 3rd quarter. Invesco Ltd. now owns 24,292,437 shares of the pipeline company’s stock worth $954,450,000 after purchasing an additional 81,183 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Western Midstream Partners in the third quarter worth approximately $300,257,000. Bank of America Corp DE raised its stake in shares of Western Midstream Partners by 31.2% in the third quarter. Bank of America Corp DE now owns 1,872,394 shares of the pipeline company’s stock worth $73,566,000 after purchasing an additional 445,663 shares during the last quarter. Finally, Miller Howard Investments Inc. NY lifted its holdings in shares of Western Midstream Partners by 0.8% in the third quarter. Miller Howard Investments Inc. NY now owns 1,480,497 shares of the pipeline company’s stock valued at $58,169,000 after purchasing an additional 11,218 shares in the last quarter. Institutional investors and hedge funds own 84.82% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on WES shares. Wells Fargo & Company lifted their target price on Western Midstream Partners from $39.00 to $41.00 and gave the company an “equal weight” rating in a research report on Friday, March 13th. Stifel Nicolaus dropped their price objective on Western Midstream Partners from $43.00 to $42.00 and set a “hold” rating on the stock in a research note on Friday, February 20th. JPMorgan Chase & Co. cut their price objective on shares of Western Midstream Partners from $44.00 to $43.00 and set a “neutral” rating on the stock in a report on Thursday, March 12th. Finally, Wall Street Zen lowered shares of Western Midstream Partners from a “buy” rating to a “hold” rating in a research note on Saturday, December 27th. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $41.71.

Western Midstream Partners Price Performance

Western Midstream Partners stock opened at $41.56 on Tuesday. Western Midstream Partners, LP has a 52 week low of $33.60 and a 52 week high of $44.74. The company’s 50 day moving average price is $41.51 and its two-hundred day moving average price is $39.93. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.97. The stock has a market cap of $16.36 billion, a P/E ratio of 13.85 and a beta of 0.76.

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

Western Midstream Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Monday, February 2nd were given a $0.91 dividend. The ex-dividend date of this dividend was Monday, February 2nd. This represents a $3.64 annualized dividend and a yield of 8.8%. Western Midstream Partners’s payout ratio is currently 121.33%.

Insiders Place Their Bets

In other Western Midstream Partners news, Director Robert G. Phillips acquired 1,250 shares of Western Midstream Partners stock in a transaction on Wednesday, March 11th. The stock was purchased at an average price of $40.19 per share, for a total transaction of $50,237.50. Following the purchase, the director directly owned 5,296 shares of the company’s stock, valued at $212,846.24. This trade represents a 30.89% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Christopher B. Dial sold 5,879 shares of the firm’s stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $42.35, for a total value of $248,975.65. Following the sale, the senior vice president directly owned 185,011 shares of the company’s stock, valued at approximately $7,835,215.85. This represents a 3.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.04% of the stock is owned by corporate insiders.

Western Midstream Partners Profile

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.