56,834 Shares in Western Midstream Partners, LP $WES Bought by Vestcor Inc

Vestcor Inc acquired a new position in shares of Western Midstream Partners, LP (NYSE:WES) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 56,834 shares of the pipeline company’s stock, valued at approximately $2,245,000.

Several other large investors have also modified their holdings of the company. State of Wyoming boosted its holdings in shares of Western Midstream Partners by 68.2% during the 4th quarter. State of Wyoming now owns 5,266 shares of the pipeline company’s stock worth $208,000 after buying an additional 2,136 shares during the period. Cibc World Market Inc. boosted its holdings in shares of Western Midstream Partners by 0.4% during the 4th quarter. Cibc World Market Inc. now owns 157,200 shares of the pipeline company’s stock worth $6,209,000 after buying an additional 600 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Western Midstream Partners by 10.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 9,562,213 shares of the pipeline company’s stock worth $377,707,000 after buying an additional 936,376 shares during the period. Texas Yale Capital Corp. boosted its holdings in shares of Western Midstream Partners by 7.5% during the 4th quarter. Texas Yale Capital Corp. now owns 619,271 shares of the pipeline company’s stock worth $24,461,000 after buying an additional 43,462 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Western Midstream Partners by 42.1% during the 4th quarter. BNP Paribas Financial Markets now owns 1,499,691 shares of the pipeline company’s stock worth $59,238,000 after buying an additional 443,950 shares during the period. 84.82% of the stock is owned by institutional investors.

Insider Activity

In other Western Midstream Partners news, Director Robert G. Phillips acquired 1,250 shares of the company’s stock in a transaction dated Wednesday, March 11th. The stock was bought at an average price of $40.19 per share, for a total transaction of $50,237.50. Following the purchase, the director owned 5,296 shares in the company, valued at $212,846.24. This represents a 30.89% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.04% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on WES. JPMorgan Chase & Co. cut their target price on shares of Western Midstream Partners from $44.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday, March 12th. Stifel Nicolaus set a $46.00 target price on shares of Western Midstream Partners and gave the company a “buy” rating in a research note on Thursday, May 7th. Citigroup upped their target price on shares of Western Midstream Partners from $39.00 to $42.00 and gave the company a “neutral” rating in a research note on Tuesday, May 12th. US Capital Advisors upgraded shares of Western Midstream Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, May 29th. Finally, Morgan Stanley upped their target price on shares of Western Midstream Partners from $41.00 to $51.00 and gave the company an “underweight” rating in a research note on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $44.75.

Western Midstream Partners Trading Up 0.1%

Shares of WES stock opened at $44.43 on Monday. Western Midstream Partners, LP has a 52-week low of $36.90 and a 52-week high of $48.01. The stock has a market cap of $17.49 billion, a price-to-earnings ratio of 14.52, a P/E/G ratio of 1.87 and a beta of 0.68. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a fifty day moving average of $42.87 and a 200-day moving average of $41.41.

Western Midstream Partners (NYSE:WES) last announced its quarterly earnings data on Wednesday, May 6th. The pipeline company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.11. Western Midstream Partners had a net margin of 29.98% and a return on equity of 33.89%. The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the prior year, the company posted $0.79 EPS. The business’s revenue was up 22.5% on a year-over-year basis. On average, equities research analysts forecast that Western Midstream Partners, LP will post 3.44 earnings per share for the current fiscal year.

Western Midstream Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were paid a $0.93 dividend. The ex-dividend date was Friday, May 1st. This represents a $3.72 dividend on an annualized basis and a dividend yield of 8.4%. This is a positive change from Western Midstream Partners’s previous quarterly dividend of $0.91. Western Midstream Partners’s dividend payout ratio is currently 121.57%.

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.