8,000 Shares in Western Midstream Partners, LP $WES Bought by Quantum Financial Planning Services Inc.

Key Points

• Quantum Financial Planning Services Inc. acquired 8,000 shares of Western Midstream Partners, LP valued at approximately $310,000 in the second quarter.
• Western Midstream Partners reported an EPS of $0.87 for the last quarter, outperforming analysts' estimates of $0.82, with a revenue of $942.32 million.
• The company announced a quarterly dividend of $0.91, resulting in an annualized yield of 9.8%, although its payout ratio is notably high at 112%.

Quantum Financial Planning Services Inc. acquired a new position in Western Midstream Partners, LP (NYSE:WES - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 8,000 shares of the pipeline company's stock, valued at approximately $310,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Financial Network Wealth Advisors LLC lifted its position in Western Midstream Partners by 1,856.4% during the first quarter. Financial Network Wealth Advisors LLC now owns 763 shares of the pipeline company's stock valued at $31,000 after purchasing an additional 724 shares in the last quarter. Sound Income Strategies LLC purchased a new position in Western Midstream Partners during the second quarter valued at $39,000. Bessemer Group Inc. purchased a new position in Western Midstream Partners during the first quarter valued at $41,000. Ameritas Advisory Services LLC purchased a new position in Western Midstream Partners during the second quarter valued at $49,000. Finally, Iron Horse Wealth Management LLC purchased a new position in shares of Western Midstream Partners in the second quarter valued at about $58,000. 84.82% of the stock is currently owned by hedge funds and other institutional investors.

Western Midstream Partners Price Performance

NYSE:WES opened at $37.32 on Friday. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 2.08. The company has a market capitalization of $14.23 billion, a P/E ratio of 11.48 and a beta of 1.12. Western Midstream Partners, LP has a 12 month low of $33.60 and a 12 month high of $43.33. The business's 50-day moving average is $38.57 and its 200 day moving average is $38.56.

Western Midstream Partners (NYSE:WES - Get Free Report) last posted its earnings results on Wednesday, August 6th. The pipeline company reported $0.87 EPS for the quarter, topping analysts' consensus estimates of $0.82 by $0.05. The company had revenue of $942.32 million for the quarter, compared to the consensus estimate of $954.17 million. Western Midstream Partners had a return on equity of 37.70% and a net margin of 34.45%.The firm's revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.97 earnings per share. On average, equities research analysts forecast that Western Midstream Partners, LP will post 4.02 earnings per share for the current fiscal year.

Western Midstream Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Friday, August 1st were given a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 9.8%. The ex-dividend date was Friday, August 1st. Western Midstream Partners's payout ratio is currently 112.00%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Royal Bank Of Canada boosted their price objective on Western Midstream Partners from $38.00 to $39.00 and gave the company a "sector perform" rating in a research report on Tuesday, August 26th. Morgan Stanley lowered their price objective on Western Midstream Partners from $41.00 to $39.00 and set an "underweight" rating on the stock in a research report on Tuesday, August 26th. Finally, Mizuho boosted their price objective on Western Midstream Partners from $44.00 to $46.00 and gave the company an "outperform" rating in a research report on Friday, August 29th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Reduce" and an average price target of $39.60.

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.

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