Infrastructure Capital Advisors LLC Cuts Holdings in Western Midstream Partners, LP (NYSE:WES)

Infrastructure Capital Advisors LLC lowered its holdings in Western Midstream Partners, LP (NYSE:WES) by 10.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,412,125 shares of the pipeline company’s stock after selling 158,808 shares during the period. Western Midstream Partners comprises about 7.3% of Infrastructure Capital Advisors LLC’s investment portfolio, making the stock its 6th biggest holding. Infrastructure Capital Advisors LLC owned about 0.37% of Western Midstream Partners worth $54,028,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of WES. Chickasaw Capital Management LLC increased its stake in shares of Western Midstream Partners by 0.6% in the second quarter. Chickasaw Capital Management LLC now owns 6,711,006 shares of the pipeline company’s stock valued at $266,628,000 after purchasing an additional 37,259 shares during the period. Kayne Anderson Capital Advisors LP increased its stake in shares of Western Midstream Partners by 23.5% in the third quarter. Kayne Anderson Capital Advisors LP now owns 6,228,448 shares of the pipeline company’s stock valued at $238,300,000 after purchasing an additional 1,184,597 shares during the period. Fractal Investments LLC increased its stake in shares of Western Midstream Partners by 5.4% in the third quarter. Fractal Investments LLC now owns 1,465,706 shares of the pipeline company’s stock valued at $56,078,000 after purchasing an additional 75,145 shares during the period. Miller Howard Investments Inc. NY increased its stake in shares of Western Midstream Partners by 2.8% in the second quarter. Miller Howard Investments Inc. NY now owns 1,458,530 shares of the pipeline company’s stock valued at $57,947,000 after purchasing an additional 39,827 shares during the period. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its stake in shares of Western Midstream Partners by 10.1% in the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,315,472 shares of the pipeline company’s stock valued at $50,330,000 after purchasing an additional 120,202 shares during the period. Institutional investors own 42.94% of the company’s stock.

Western Midstream Partners Trading Up 2.3 %

Western Midstream Partners stock opened at $39.63 on Friday. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market cap of $15.08 billion, a price-to-earnings ratio of 10.11, a price-to-earnings-growth ratio of 1.07 and a beta of 2.88. Western Midstream Partners, LP has a 1 year low of $26.81 and a 1 year high of $42.80. The firm’s 50 day moving average price is $38.27 and its two-hundred day moving average price is $38.73.

Western Midstream Partners (NYSE:WES) last posted its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.09). Western Midstream Partners had a return on equity of 46.02% and a net margin of 42.99%. The firm had revenue of $883.36 million during the quarter, compared to analyst estimates of $924.83 million. During the same period in the prior year, the business posted $0.70 EPS. The company’s revenue for the quarter was up 13.8% on a year-over-year basis. On average, research analysts predict that Western Midstream Partners, LP will post 4.05 EPS for the current fiscal year.

Western Midstream Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were paid a $0.875 dividend. This represents a $3.50 dividend on an annualized basis and a yield of 8.83%. The ex-dividend date was Friday, November 1st. Western Midstream Partners’s dividend payout ratio is 89.29%.

Analyst Ratings Changes

WES has been the topic of several analyst reports. US Capital Advisors upgraded shares of Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a research note on Tuesday. Royal Bank of Canada raised their price objective on shares of Western Midstream Partners from $38.00 to $41.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 16th. Stifel Nicolaus raised their price objective on shares of Western Midstream Partners from $39.00 to $40.00 and gave the company a “hold” rating in a research note on Friday, August 9th. Bank of America started coverage on shares of Western Midstream Partners in a research note on Thursday, October 17th. They set an “underperform” rating and a $37.00 price objective on the stock. Finally, Morgan Stanley lowered shares of Western Midstream Partners from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $42.00 to $40.00 in a research note on Friday, October 25th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $37.88.

Western Midstream Partners Company Profile

Western Midstream Partners, LP, together with its subsidiaries, operates as a midstream energy company primarily in the United States. It is involved in gathering, compressing, treating, processing, and transporting natural gas; gathering, stabilizing, and transporting condensate, natural gas liquids (NGLs), and crude oil; and gathering and disposing produced water.