Tectonic Advisors LLC Has $5.24 Million Stock Position in Western Midstream Partners, LP (NYSE:WES)

Tectonic Advisors LLC lifted its stake in shares of Western Midstream Partners, LP (NYSE:WES) by 2.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 136,278 shares of the pipeline company’s stock after purchasing an additional 3,130 shares during the quarter. Tectonic Advisors LLC’s holdings in Western Midstream Partners were worth $5,237,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of WES. Caprock Group LLC lifted its position in shares of Western Midstream Partners by 236.9% during the 4th quarter. Caprock Group LLC now owns 17,869 shares of the pipeline company’s stock worth $687,000 after buying an additional 12,565 shares during the last quarter. Penbrook Management LLC bought a new position in Western Midstream Partners in the fourth quarter valued at about $246,000. Pacer Advisors Inc. raised its position in Western Midstream Partners by 27.2% in the fourth quarter. Pacer Advisors Inc. now owns 51,700 shares of the pipeline company’s stock valued at $1,987,000 after purchasing an additional 11,062 shares during the last quarter. PFG Investments LLC raised its position in Western Midstream Partners by 1.6% in the fourth quarter. PFG Investments LLC now owns 33,424 shares of the pipeline company’s stock valued at $1,284,000 after purchasing an additional 540 shares during the last quarter. Finally, Curated Wealth Partners LLC bought a new position in shares of Western Midstream Partners during the fourth quarter worth about $246,000. 84.82% of the stock is owned by institutional investors and hedge funds.

Western Midstream Partners Stock Performance

Shares of WES opened at $40.73 on Wednesday. The firm has a market cap of $15.50 billion, a PE ratio of 10.39, a PEG ratio of 1.38 and a beta of 2.88. The stock’s fifty day moving average price is $40.12 and its two-hundred day moving average price is $39.11. 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 $27.84 and a 1 year high of $43.33.

Western Midstream Partners (NYSE:WES) last released its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.09). Western Midstream Partners had a net margin of 42.99% and a return on equity of 46.02%. The company had revenue of $883.36 million for the quarter, compared to the consensus estimate of $924.83 million. During the same quarter in the previous year, the firm posted $0.70 earnings per share. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. On average, equities research analysts forecast that Western Midstream Partners, LP will post 4.02 EPS for the current year.

Western Midstream Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be issued a $0.875 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $3.50 annualized dividend and a dividend yield of 8.59%. Western Midstream Partners’s payout ratio is currently 89.29%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on WES. US Capital Advisors upgraded Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 26th. StockNews.com cut Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 28th. Bank of America assumed coverage on Western Midstream Partners in a research note on Thursday, October 17th. They set an “underperform” rating and a $37.00 target price for the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $41.00 target price on shares of Western Midstream Partners in a research note on Monday, December 9th. Finally, Morgan Stanley cut Western Midstream Partners from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $42.00 to $40.00 in a research note on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Western Midstream Partners currently has a consensus rating of “Hold” and a consensus price target of $37.88.

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.