BNP Paribas Financial Markets Sells 72,625 Shares of Western Midstream Partners, LP $WES

Key Points

• BNP Paribas Financial Markets has reduced its stake in Western Midstream Partners by 6.9%, now holding approximately 0.26% of the company valued at $40 million.
• Several other institutional investors have increased their positions in Western Midstream Partners, including Catalyst Capital Advisors, which boosted its holdings by 30.6%.
• Western Midstream Partners reported a 0.87 EPS for the last quarter, exceeding estimates, but the revenue of $942.32 million fell short of expectations.

BNP Paribas Financial Markets decreased its position in Western Midstream Partners, LP (NYSE:WES - Free Report) by 6.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 977,354 shares of the pipeline company's stock after selling 72,625 shares during the period. BNP Paribas Financial Markets owned about 0.26% of Western Midstream Partners worth $40,032,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Alps Advisors Inc. raised its holdings in Western Midstream Partners by 7.6% during the 1st quarter. Alps Advisors Inc. now owns 33,824,487 shares of the pipeline company's stock valued at $1,385,451,000 after acquiring an additional 2,400,891 shares during the period. Invesco Ltd. raised its holdings in Western Midstream Partners by 7.1% during the 1st quarter. Invesco Ltd. now owns 24,417,770 shares of the pipeline company's stock valued at $1,000,152,000 after acquiring an additional 1,608,609 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Western Midstream Partners by 23.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,273,186 shares of the pipeline company's stock valued at $279,509,000 after acquiring an additional 1,366,341 shares during the period. Eagle Global Advisors LLC raised its holdings in Western Midstream Partners by 23.2% during the 4th quarter. Eagle Global Advisors LLC now owns 2,434,080 shares of the pipeline company's stock valued at $93,542,000 after acquiring an additional 458,111 shares during the period. Finally, BROOKFIELD Corp ON raised its holdings in Western Midstream Partners by 1.0% during the 4th quarter. BROOKFIELD Corp ON now owns 1,683,790 shares of the pipeline company's stock valued at $64,708,000 after acquiring an additional 15,978 shares during the period. Institutional investors own 84.82% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on WES. Morgan Stanley lowered their target price on shares of Western Midstream Partners from $41.00 to $39.00 and set an "underweight" rating on the stock in a report on Tuesday, August 26th. Royal Bank Of Canada upped their price target on shares of Western Midstream Partners from $38.00 to $39.00 and gave the stock a "sector perform" rating in a report on Tuesday, August 26th. Finally, Mizuho upped their price target on shares of Western Midstream Partners from $44.00 to $46.00 and gave the stock an "outperform" rating in a report on Friday, August 29th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Reduce" and a consensus price target of $39.60.

Western Midstream Partners Price Performance

WES traded up $0.21 during trading on Thursday, reaching $38.50. The stock had a trading volume of 844,686 shares, compared to its average volume of 1,179,098. The stock has a market cap of $14.68 billion, a PE ratio of 11.85 and a beta of 1.17. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.30 and a current ratio of 1.30. Western Midstream Partners, LP has a one year low of $33.60 and a one year high of $43.33. The business has a 50-day moving average of $39.19 and a 200-day moving average of $38.95.

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

Western Midstream Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Friday, August 1st were paid a dividend of $0.91 per share. The ex-dividend date of this dividend was Friday, August 1st. This represents a $3.64 dividend on an annualized basis and a dividend yield of 9.5%. Western Midstream Partners's dividend payout ratio (DPR) is currently 112.00%.

Western Midstream Partners 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.