BNP Paribas Financial Markets Has $38.11 Million Holdings in Western Midstream Partners, LP (NYSE:WES)

BNP Paribas Financial Markets lifted its position in Western Midstream Partners, LP (NYSE:WES) by 6.5% in the third quarter, HoldingsChannel.com reports. The firm owned 996,018 shares of the pipeline company’s stock after acquiring an additional 60,603 shares during the period. BNP Paribas Financial Markets’ holdings in Western Midstream Partners were worth $38,108,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kayne Anderson Capital Advisors LP increased its holdings in Western Midstream Partners by 23.5% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 6,228,448 shares of the pipeline company’s stock valued at $238,300,000 after buying an additional 1,184,597 shares during the period. ING Groep NV boosted its position in shares of Western Midstream Partners by 81.0% during the 3rd quarter. ING Groep NV now owns 746,587 shares of the pipeline company’s stock valued at $28,564,000 after acquiring an additional 334,187 shares in the last quarter. Citigroup Inc. increased its stake in Western Midstream Partners by 322.1% in the third quarter. Citigroup Inc. now owns 406,587 shares of the pipeline company’s stock valued at $15,556,000 after acquiring an additional 310,260 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its position 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 worth $50,330,000 after purchasing an additional 120,202 shares in the last quarter. Finally, Fractal Investments LLC lifted its stake in Western Midstream Partners by 5.4% during the third quarter. Fractal Investments LLC now owns 1,465,706 shares of the pipeline company’s stock worth $56,078,000 after purchasing an additional 75,145 shares during the period. 42.94% of the stock is owned by institutional investors.

Western Midstream Partners Trading Up 2.3 %

WES opened at $39.63 on Friday. Western Midstream Partners, LP has a 1-year low of $26.81 and a 1-year high of $42.80. The stock has a market capitalization of $15.08 billion, a PE ratio of 10.11, a PEG ratio of 1.07 and a beta of 2.88. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.05. The firm has a 50-day moving average price of $38.27 and a two-hundred day moving average price of $38.73.

Western Midstream Partners (NYSE:WES) last issued its quarterly 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). 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 during the quarter, compared to analyst estimates of $924.83 million. During the same period in the prior year, the business earned $0.70 EPS. The business’s revenue for the quarter was up 13.8% on a year-over-year basis. As a group, equities analysts anticipate that Western Midstream Partners, LP will post 4.05 earnings per share for the current fiscal year.

Western Midstream Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were paid a dividend of $0.875 per share. This represents a $3.50 annualized dividend and a dividend yield of 8.83%. The ex-dividend date was Friday, November 1st. Western Midstream Partners’s dividend payout ratio (DPR) is presently 89.29%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on WES. Stifel Nicolaus upped their price objective 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. Bank of America assumed coverage on Western Midstream Partners in a research report on Thursday, October 17th. They issued an “underperform” rating and a $37.00 price target on the stock. StockNews.com cut Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, October 28th. Royal Bank of Canada increased their target price on shares of Western Midstream Partners from $38.00 to $41.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 16th. Finally, US Capital Advisors upgraded shares of Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a research report on Tuesday. Two investment 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. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $37.88.

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.