Tectonic Advisors LLC Has $5.09 Million Stake in Western Midstream Partners, LP (NYSE:WES)

Tectonic Advisors LLC boosted its position in Western Midstream Partners, LP (NYSE:WES) by 2.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 133,148 shares of the pipeline company’s stock after purchasing an additional 3,092 shares during the period. Tectonic Advisors LLC’s holdings in Western Midstream Partners were worth $5,094,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Jennison Associates LLC increased its position in shares of Western Midstream Partners by 96.0% during the first quarter. Jennison Associates LLC now owns 1,928,179 shares of the pipeline company’s stock worth $68,547,000 after acquiring an additional 944,494 shares in the last quarter. Kayne Anderson Capital Advisors LP boosted its stake in Western Midstream Partners by 27.4% in the first quarter. Kayne Anderson Capital Advisors LP now owns 4,165,829 shares of the pipeline company’s stock valued at $148,095,000 after acquiring an additional 895,715 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in Western Midstream Partners by 174.3% in the first quarter. BNP Paribas Financial Markets now owns 417,302 shares of the pipeline company’s stock valued at $14,835,000 after acquiring an additional 265,143 shares during the last quarter. Blackstone Inc. boosted its stake in Western Midstream Partners by 2.0% in the first quarter. Blackstone Inc. now owns 12,980,724 shares of the pipeline company’s stock valued at $461,465,000 after acquiring an additional 259,928 shares during the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its stake in Western Midstream Partners by 10.1% in the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,315,472 shares of the pipeline company’s stock valued at $50,330,000 after acquiring an additional 120,202 shares during the last quarter. Institutional investors and hedge funds own 42.94% of the company’s stock.

Insider Activity

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of Western Midstream Partners stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the sale, the insider now owns 165,681,578 shares of the company’s stock, valued at approximately $5,923,116,413.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.04% of the company’s stock.

Western Midstream Partners Price Performance

WES stock opened at $38.63 on Friday. The firm’s 50-day moving average price is $38.64 and its two-hundred day moving average price is $38.31. Western Midstream Partners, LP has a 12-month low of $26.49 and a 12-month high of $42.80. The stock has a market capitalization of $14.70 billion, a price-to-earnings ratio of 10.88, a PEG ratio of 0.72 and a beta of 2.87. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.08.

Western Midstream Partners (NYSE:WES) last released its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.09. Western Midstream Partners had a net margin of 44.01% and a return on equity of 47.19%. The firm had revenue of $905.63 million for the quarter, compared to analysts’ expectations of $904.94 million. During the same quarter in the previous year, the company earned $0.64 earnings per share. The company’s revenue for the quarter was up 22.7% compared to the same quarter last year. As a group, equities analysts predict that Western Midstream Partners, LP will post 4.13 earnings per share for the current year.

Western Midstream Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Friday, November 1st will be paid a dividend of $0.875 per share. This represents a $3.50 dividend on an annualized basis and a dividend yield of 9.06%. The ex-dividend date of this dividend is Friday, November 1st. Western Midstream Partners’s payout ratio is 98.59%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on WES shares. Bank of America started coverage on shares of Western Midstream Partners in a research note on Thursday, October 17th. They set an “underperform” rating and a $37.00 price target on the stock. UBS Group upped their price target on shares of Western Midstream Partners from $38.00 to $39.00 and gave the company a “neutral” rating in a research note on Wednesday, September 18th. Morgan Stanley cut shares of Western Midstream Partners from an “overweight” rating to an “equal weight” rating and set a $42.00 price target on the stock. in a research note on Monday, September 16th. StockNews.com upgraded shares of Western Midstream Partners from a “buy” rating to a “strong-buy” rating in a research note on Sunday, October 20th. Finally, Stifel Nicolaus increased their target price on shares of Western Midstream Partners from $39.00 to $40.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $38.38.

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.