Hardy Reed LLC Acquires 3,500 Shares of Western Midstream Partners, LP (NYSE:WES)

Hardy Reed LLC boosted its holdings in shares of Western Midstream Partners, LP (NYSE:WES) by 30.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,850 shares of the pipeline company’s stock after acquiring an additional 3,500 shares during the period. Hardy Reed LLC’s holdings in Western Midstream Partners were worth $568,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Farther Finance Advisors LLC grew its stake in shares of Western Midstream Partners by 287.3% in the third quarter. Farther Finance Advisors LLC now owns 1,437 shares of the pipeline company’s stock worth $55,000 after acquiring an additional 1,066 shares during the last quarter. EverSource Wealth Advisors LLC purchased a new stake in Western Midstream Partners during the 2nd quarter valued at about $74,000. Triad Wealth Partners LLC bought a new stake in Western Midstream Partners during the 2nd quarter valued at about $78,000. Cedar Mountain Advisors LLC raised its holdings in Western Midstream Partners by 16.1% in the third quarter. Cedar Mountain Advisors LLC now owns 2,158 shares of the pipeline company’s stock worth $83,000 after buying an additional 299 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. lifted its stake in shares of Western Midstream Partners by 63.9% in the second quarter. Farmers & Merchants Investments Inc. now owns 2,566 shares of the pipeline company’s stock worth $102,000 after buying an additional 1,000 shares in the last quarter. Institutional investors own 42.94% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Royal Bank of Canada raised their price target on shares of Western Midstream Partners from $38.00 to $41.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 16th. Bank of America started coverage on Western Midstream Partners in a research note on Thursday, October 17th. They issued an “underperform” rating and a $37.00 price target for the company. UBS Group dropped their price objective on Western Midstream Partners from $40.00 to $37.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. US Capital Advisors raised Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a research report on Tuesday. Finally, 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 report on Friday, August 9th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Western Midstream Partners currently has an average rating of “Hold” and an average target price of $37.88.

Western Midstream Partners Stock Up 1.1 %

Shares of WES stock opened at $38.75 on Wednesday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.05. Western Midstream Partners, LP has a 12 month low of $26.81 and a 12 month high of $42.80. The stock has a market cap of $14.74 billion, a P/E ratio of 9.88, a P/E/G ratio of 1.03 and a beta of 2.88. The company has a 50 day simple moving average of $38.30 and a two-hundred day simple moving average of $38.70.

Western Midstream Partners (NYSE:WES) last announced its earnings results 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 company had revenue of $883.36 million during the quarter, compared to the consensus estimate of $924.83 million. During the same period in the prior year, the business posted $0.70 earnings per share. Western Midstream Partners’s revenue for the quarter was up 13.8% compared to the same quarter last year. On average, research analysts expect that Western Midstream Partners, LP will post 4.09 earnings per share for the current year.

Western Midstream Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were paid a dividend of $0.875 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.50 dividend on an annualized basis and a dividend yield of 9.03%. Western Midstream Partners’s dividend payout ratio (DPR) is presently 89.29%.

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.