6,400 Shares in Western Midstream Partners, LP (NYSE:WES) Purchased by Penbrook Management LLC

Penbrook Management LLC acquired a new position in shares of Western Midstream Partners, LP (NYSE:WES) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 6,400 shares of the pipeline company’s stock, valued at approximately $246,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in WES. Farther Finance Advisors LLC raised its holdings in Western Midstream Partners by 287.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,437 shares of the pipeline company’s stock valued at $55,000 after buying an additional 1,066 shares during the period. Kieckhefer Group LLC bought a new position in Western Midstream Partners during the fourth quarter valued at $58,000. Avondale Wealth Management purchased a new stake in shares of Western Midstream Partners in the fourth quarter valued at $77,000. Cedar Mountain Advisors LLC lifted its holdings in shares of Western Midstream Partners by 16.1% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 2,158 shares of the pipeline company’s stock worth $83,000 after acquiring an additional 299 shares during the last quarter. Finally, Millburn Ridgefield Corp purchased a new position in shares of Western Midstream Partners during the 3rd quarter worth about $86,000. 84.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of 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. Bank of America began coverage on Western Midstream Partners in a research note on Thursday, October 17th. They set an “underperform” rating and a $37.00 price target for the company. Morgan Stanley downgraded Western Midstream Partners from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $42.00 to $40.00 in a research report on Friday, October 25th. Royal Bank of Canada reiterated a “sector perform” rating and set a $41.00 target price on shares of Western Midstream Partners in a research report on Monday, December 9th. Finally, US Capital Advisors upgraded shares of Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 26th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Western Midstream Partners presently has a consensus rating of “Hold” and a consensus target price of $37.88.

Western Midstream Partners Stock Performance

WES stock opened at $41.89 on Thursday. 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. The business has a 50-day moving average price of $39.90 and a 200 day moving average price of $39.15. The company has a market capitalization of $15.94 billion, a P/E ratio of 10.69, a PEG ratio of 1.41 and a beta of 2.90.

Western Midstream Partners (NYSE:WES) last posted its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.74 EPS for the quarter, missing the consensus estimate 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 business had revenue of $883.36 million during the quarter, compared to the consensus estimate of $924.83 million. During the same quarter in the prior year, the firm posted $0.70 EPS. The company’s revenue for the quarter was up 13.8% compared to the same quarter last year. As a group, equities research analysts forecast that Western Midstream Partners, LP will post 4.03 EPS for the current fiscal year.

Western Midstream Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be given a dividend of $0.875 per share. The ex-dividend date is Monday, February 3rd. This represents a $3.50 annualized dividend and a yield of 8.36%. Western Midstream Partners’s dividend payout ratio (DPR) is presently 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.