Evergreen Capital Management LLC Has $7.24 Million Stock Position in Western Midstream Partners, LP $WES

Key Points

• Evergreen Capital Management LLC reduced its stake in Western Midstream Partners by 8.7%, owning 176,673 shares valued at approximately $7.24 million after selling 16,930 shares in the first quarter.
• Western Midstream Partners reported an earnings per share (EPS) of $0.87 for the last quarter, exceeding analyst expectations by $0.05, while quarterly revenue was $942.32 million, below estimates.
• The company recently announced a quarterly dividend of $0.91, with a yearly yield of 9.3%, despite a dividend payout ratio of 112.00%.

Evergreen Capital Management LLC decreased its position in Western Midstream Partners, LP (NYSE:WES - Free Report) by 8.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 176,673 shares of the pipeline company's stock after selling 16,930 shares during the quarter. Evergreen Capital Management LLC's holdings in Western Midstream Partners were worth $7,237,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of WES. Princeton Global Asset Management LLC lifted its holdings in shares of Western Midstream Partners by 133.3% in the first quarter. Princeton Global Asset Management LLC now owns 700 shares of the pipeline company's stock valued at $29,000 after buying an additional 400 shares during the period. Financial Network Wealth Advisors LLC lifted its holdings in shares of Western Midstream Partners by 1,856.4% in the first quarter. Financial Network Wealth Advisors LLC now owns 763 shares of the pipeline company's stock valued at $31,000 after buying an additional 724 shares during the period. Cary Street Partners Financial LLC acquired a new stake in shares of Western Midstream Partners in the fourth quarter valued at $39,000. Bessemer Group Inc. acquired a new stake in shares of Western Midstream Partners in the first quarter valued at $41,000. Finally, Creative Financial Designs Inc. ADV acquired a new stake in shares of Western Midstream Partners during the first quarter worth $72,000. Institutional investors and hedge funds own 84.82% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on WES shares. Mizuho boosted their target price on Western Midstream Partners from $44.00 to $46.00 and gave the stock an "outperform" rating in a research report on Friday. Morgan Stanley cut their target price 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, Royal Bank Of Canada boosted their target price on Western Midstream Partners from $38.00 to $39.00 and gave the stock a "sector perform" rating in a research report on Tuesday, August 26th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Reduce" and a consensus target price of $39.60.

Western Midstream Partners Stock Up 1.5%

NYSE:WES traded up $0.59 during trading hours on Monday, hitting $39.18. 1,274,968 shares of the company's stock traded hands, compared to its average volume of 1,458,338. The firm has a market cap of $14.94 billion, a P/E ratio of 12.06 and a beta of 1.18. Western Midstream Partners, LP has a twelve month low of $33.60 and a twelve month high of $43.33. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.30 and a current ratio of 1.30. The stock's fifty day moving average price is $39.16 and its two-hundred day moving average price is $38.95.

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

Western Midstream Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Friday, August 1st were given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 9.3%. The ex-dividend date of this dividend was Friday, August 1st. Western Midstream Partners's payout ratio is presently 112.00%.

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.