BBR Partners LLC Purchases New Stake in Western Midstream Partners, LP (NYSE:WES)

BBR Partners LLC bought a new stake in Western Midstream Partners, LP (NYSE:WES) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 15,000 shares of the pipeline company’s stock, valued at approximately $574,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Hardy Reed LLC lifted its stake in Western Midstream Partners by 30.8% in the third quarter. Hardy Reed LLC now owns 14,850 shares of the pipeline company’s stock valued at $568,000 after buying an additional 3,500 shares during the period. BNP Paribas Financial Markets lifted its stake in Western Midstream Partners by 6.5% in the third quarter. BNP Paribas Financial Markets now owns 996,018 shares of the pipeline company’s stock valued at $38,108,000 after buying an additional 60,603 shares during the period. D.A. Davidson & CO. lifted its stake in Western Midstream Partners by 30.0% in the third quarter. D.A. Davidson & CO. now owns 44,704 shares of the pipeline company’s stock valued at $1,710,000 after buying an additional 10,319 shares during the period. Brown Brothers Harriman & Co. lifted its stake in Western Midstream Partners by 1,430.0% in the third quarter. Brown Brothers Harriman & Co. now owns 8,782 shares of the pipeline company’s stock valued at $336,000 after buying an additional 8,208 shares during the period. Finally, Independent Advisor Alliance lifted its stake in Western Midstream Partners by 3.7% in the third quarter. Independent Advisor Alliance now owns 22,647 shares of the pipeline company’s stock valued at $866,000 after buying an additional 800 shares during the period. Institutional investors and hedge funds own 42.94% of the company’s stock.

Western Midstream Partners Trading Up 2.3 %

Shares of Western Midstream Partners stock opened at $39.65 on Thursday. 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 $15.09 billion, a P/E ratio of 10.11, a P/E/G ratio of 1.04 and a beta of 2.88. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.05. The business’s 50 day moving average is $38.27 and its 200-day moving average is $38.72.

Western Midstream Partners (NYSE:WES) last posted its earnings results on Wednesday, November 6th. The pipeline company reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.09). The business had revenue of $883.36 million for the quarter, compared to analyst estimates of $924.83 million. Western Midstream Partners had a return on equity of 46.02% and a net margin of 42.99%. The firm’s revenue was up 13.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.70 earnings per share. Equities research analysts predict that Western Midstream Partners, LP will post 4.09 earnings per share for the current fiscal year.

Western Midstream Partners Announces Dividend

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

Analysts Set New Price Targets

A number of research firms have recently commented on WES. UBS Group dropped their price target 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. Royal Bank of Canada lifted their price objective on Western Midstream Partners from $38.00 to $41.00 and gave the company a “sector perform” rating in a report on Wednesday, October 16th. StockNews.com cut Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, October 28th. US Capital Advisors upgraded Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a research note on Tuesday. Finally, Stifel Nicolaus boosted their target price on Western Midstream Partners from $39.00 to $40.00 and gave the company a “hold” rating in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $37.88.

Western Midstream Partners 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.