Custom Index Systems LLC Has $1.61 Million Stock Position in Western Midstream Partners, LP (NYSE:WES)

Custom Index Systems LLC reduced its holdings in shares of Western Midstream Partners, LP (NYSE:WES) by 7.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 40,526 shares of the pipeline company’s stock after selling 3,322 shares during the quarter. Western Midstream Partners accounts for about 0.9% of Custom Index Systems LLC’s holdings, making the stock its 25th biggest holding. Custom Index Systems LLC’s holdings in Western Midstream Partners were worth $1,610,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Apollon Wealth Management LLC boosted its position in Western Midstream Partners by 11.6% in the fourth quarter. Apollon Wealth Management LLC now owns 25,633 shares of the pipeline company’s stock valued at $750,000 after buying an additional 2,664 shares in the last quarter. Principal Securities Inc. bought a new stake in Western Midstream Partners during the 4th quarter worth $141,000. Jump Financial LLC acquired a new position in Western Midstream Partners in the 4th quarter worth about $483,000. Ieq Capital LLC raised its position in Western Midstream Partners by 2.8% in the fourth quarter. Ieq Capital LLC now owns 30,912 shares of the pipeline company’s stock valued at $904,000 after purchasing an additional 834 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of Western Midstream Partners by 7.6% during the fourth quarter. Wells Fargo & Company MN now owns 1,260,436 shares of the pipeline company’s stock valued at $36,880,000 after purchasing an additional 89,444 shares in the last quarter. 42.94% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on WES. Wells Fargo & Company upped their price objective on Western Midstream Partners from $34.00 to $35.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 21st. Stifel Nicolaus raised their price target 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. Royal Bank of Canada boosted their price objective on shares of Western Midstream Partners from $36.00 to $38.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 27th. Finally, StockNews.com upgraded Western Midstream Partners from a “buy” rating to a “strong-buy” rating in a report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Western Midstream Partners has a consensus rating of “Hold” and a consensus target price of $34.38.

Western Midstream Partners Stock Performance

Shares of Western Midstream Partners stock opened at $37.76 on Friday. The business has a 50-day moving average price of $39.62 and a two-hundred day moving average price of $37.29. Western Midstream Partners, LP has a 1-year low of $25.69 and a 1-year high of $42.80. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.08. The company has a market cap of $14.37 billion, a P/E ratio of 10.64, a PEG ratio of 0.71 and a beta of 2.87.

Western Midstream Partners (NYSE:WES) last announced its earnings results on Wednesday, August 7th. The pipeline company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.88 by $0.09. The company had revenue of $905.63 million for the quarter, compared to analyst estimates of $904.94 million. Western Midstream Partners had a return on equity of 47.19% and a net margin of 44.01%. The firm’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.64 EPS. As a group, analysts anticipate that Western Midstream Partners, LP will post 4.16 EPS for the current year.

Western Midstream Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st were paid a $0.875 dividend. The ex-dividend date was Thursday, August 1st. This represents a $3.50 annualized dividend and a dividend yield of 9.27%. Western Midstream Partners’s dividend payout ratio is currently 98.59%.

Insider Activity at Western Midstream Partners

In other Western Midstream Partners news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total value of $697,125,000.00. Following the completion of the sale, the insider now directly owns 165,681,578 shares in the company, valued at $5,923,116,413.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.04% of the stock is owned by corporate insiders.

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.