Barclays PLC Sells 611,250 Shares of Western Midstream Partners, LP (NYSE:WES)

Barclays PLC decreased its holdings in Western Midstream Partners, LP (NYSE:WES) by 44.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 767,115 shares of the pipeline company’s stock after selling 611,250 shares during the quarter. Barclays PLC owned 0.20% of Western Midstream Partners worth $29,350,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Kovitz Investment Group Partners LLC bought a new position in shares of Western Midstream Partners in the third quarter valued at approximately $2,654,000. Stifel Financial Corp raised its position in Western Midstream Partners by 42.1% in the 3rd quarter. Stifel Financial Corp now owns 108,367 shares of the pipeline company’s stock valued at $4,146,000 after buying an additional 32,119 shares during the last quarter. Recurrent Investment Advisors LLC raised its position in Western Midstream Partners by 5.4% in the 3rd quarter. Recurrent Investment Advisors LLC now owns 1,397,140 shares of the pipeline company’s stock valued at $53,455,000 after buying an additional 71,210 shares during the last quarter. Millburn Ridgefield Corp bought a new position in Western Midstream Partners during the 3rd quarter valued at $86,000. Finally, Integrated Wealth Concepts LLC purchased a new position in Western Midstream Partners during the 3rd quarter worth $250,000. Institutional investors and hedge funds own 84.82% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on WES shares. StockNews.com lowered shares of Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 28th. Morgan Stanley cut shares of Western Midstream Partners from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $42.00 to $40.00 in a research report on Friday, October 25th. Bank of America assumed coverage on Western Midstream Partners in a research note on Thursday, October 17th. They issued an “underperform” rating and a $37.00 target price on the stock. UBS Group decreased their price target on Western Midstream Partners from $40.00 to $37.00 and set a “neutral” rating for the company in a research report on Friday, November 15th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $41.00 price objective on shares of Western Midstream Partners in a research report on Monday, December 9th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Western Midstream Partners currently has an average rating of “Hold” and a consensus target price of $37.88.

Western Midstream Partners Stock Performance

NYSE:WES opened at $39.76 on Friday. The company has a market capitalization of $15.13 billion, a P/E ratio of 10.14, a P/E/G ratio of 1.06 and a beta of 2.90. The business has a fifty day simple moving average of $38.56 and a two-hundred day simple moving average of $38.89. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.11 and a quick ratio of 1.11. Western Midstream Partners, LP has a 1 year low of $27.44 and a 1 year high of $42.80.

Western Midstream Partners (NYSE:WES) last announced its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.09). The firm had revenue of $883.36 million during the quarter, compared to analysts’ expectations of $924.83 million. Western Midstream Partners had a return on equity of 46.02% and a net margin of 42.99%. The company’s revenue was up 13.8% compared to the same quarter last year. During the same period last year, the business posted $0.70 EPS. On average, analysts expect that Western Midstream Partners, LP will post 4.03 earnings per share for the current year.

Western Midstream Partners Announces Dividend

The firm also recently declared 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. This represents a $3.50 dividend on an annualized basis and a dividend yield of 8.80%. The ex-dividend date was Friday, November 1st. Western Midstream Partners’s payout ratio is currently 89.29%.

About Western Midstream Partners

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.