Slotnik Capital LLC Takes Position in Western Midstream Partners, LP $WES

Slotnik Capital LLC bought a new stake in shares of Western Midstream Partners, LP (NYSE:WES) during the fourth quarter, Holdings Channel.com reports. The fund bought 262,614 shares of the pipeline company’s stock, valued at approximately $10,373,000. Western Midstream Partners comprises 2.4% of Slotnik Capital LLC’s holdings, making the stock its 15th largest holding.

Other institutional investors have also recently modified their holdings of the company. Eagle Bay Advisors LLC acquired a new stake in shares of Western Midstream Partners during the 4th quarter valued at about $27,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Western Midstream Partners during the 4th quarter valued at about $27,000. Rothschild Investment LLC grew its position in shares of Western Midstream Partners by 76.2% during the 4th quarter. Rothschild Investment LLC now owns 793 shares of the pipeline company’s stock valued at $31,000 after acquiring an additional 343 shares during the period. Global Wealth Strategies & Associates acquired a new stake in shares of Western Midstream Partners during the 4th quarter valued at about $35,000. Finally, 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 last quarter. 84.82% of the stock is currently owned by institutional investors and hedge funds.

Western Midstream Partners Stock Down 1.4%

NYSE:WES opened at $43.95 on Tuesday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 2.34. The stock’s fifty day moving average is $43.17 and its two-hundred day moving average is $41.62. 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 capitalization of $17.30 billion, a price-to-earnings ratio of 14.36, a price-to-earnings-growth ratio of 1.88 and a beta of 0.69.

Western Midstream Partners (NYSE:WES) last released its quarterly earnings results on Wednesday, May 6th. The pipeline company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.11. The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Western Midstream Partners had a return on equity of 33.89% and a net margin of 29.98%.The firm’s revenue was up 22.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.79 earnings per share. Research analysts anticipate that Western Midstream Partners, LP will post 3.44 EPS for the current year.

Western Midstream Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were paid a dividend of $0.93 per share. The ex-dividend date was Friday, May 1st. This is an increase from Western Midstream Partners’s previous quarterly dividend of $0.91. This represents a $3.72 dividend on an annualized basis and a dividend yield of 8.5%. Western Midstream Partners’s payout ratio is presently 121.57%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. UBS Group lifted their price objective on Western Midstream Partners from $40.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, May 21st. Citigroup lifted their price objective on Western Midstream Partners from $39.00 to $42.00 and gave the stock a “neutral” rating in a report on Tuesday, May 12th. Wells Fargo & Company lifted their price objective on Western Midstream Partners from $41.00 to $43.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 13th. JPMorgan Chase & Co. lowered their price objective on 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, Stifel Nicolaus set a $46.00 price objective on Western Midstream Partners and gave the stock a “buy” rating in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $44.75.

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.