Goldman Sachs Group Inc. Has $354.67 Million Position in Western Midstream Partners, LP $WES

Key Points

• Goldman Sachs has increased its stake in Western Midstream Partners by 1.8%, acquiring an additional 149,833 shares, bringing its total ownership to 8,658,988 shares valued at approximately $354.67 million.
• Western Midstream Partners reported quarterly earnings of $0.87 per share, surpassing expectations, but its revenue of $942.32 million fell short of analysts' forecasts.
• The company declared a quarterly dividend of $0.91, which translates to an annual yield of 9.6%, although its payout ratio stands at a concerning 112.00%.

Goldman Sachs Group Inc. lifted its stake in shares of Western Midstream Partners, LP (NYSE:WES - Free Report) by 1.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,658,988 shares of the pipeline company's stock after purchasing an additional 149,833 shares during the quarter. Goldman Sachs Group Inc. owned 2.27% of Western Midstream Partners worth $354,672,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Princeton Global Asset Management LLC boosted its position in Western Midstream Partners by 133.3% during the 1st quarter. Princeton Global Asset Management LLC now owns 700 shares of the pipeline company's stock worth $29,000 after buying an additional 400 shares during the period. Financial Network Wealth Advisors LLC boosted its position in Western Midstream Partners by 1,856.4% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 763 shares of the pipeline company's stock worth $31,000 after buying an additional 724 shares during the period. Cary Street Partners Financial LLC acquired a new stake in Western Midstream Partners during the 4th quarter worth approximately $39,000. Bessemer Group Inc. acquired a new stake in Western Midstream Partners during the 1st quarter worth approximately $41,000. Finally, Creative Financial Designs Inc. ADV acquired a new stake in Western Midstream Partners during the 1st quarter worth approximately $72,000. 84.82% of the stock is owned by institutional investors.

Western Midstream Partners Trading Up 0.1%

Shares of NYSE WES traded up $0.03 during midday trading on Friday, reaching $38.40. The stock had a trading volume of 963,135 shares, compared to its average volume of 1,055,650. The firm has a market cap of $14.64 billion, a price-to-earnings ratio of 11.82 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 company's 50 day moving average price is $39.13 and its 200 day moving average price is $38.80.

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

Western Midstream Partners Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 9.5%. The ex-dividend date was Friday, August 1st. Western Midstream Partners's payout ratio is presently 112.00%.

Analyst Upgrades and Downgrades

WES has been the topic of several recent research reports. Mizuho lifted their target price on shares of Western Midstream Partners from $44.00 to $46.00 and gave the stock an "outperform" rating in a research report on Friday, August 29th. Morgan Stanley cut 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 research report on Tuesday, August 26th. Finally, Royal Bank Of Canada lifted their target price on shares of 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 given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Reduce" and a consensus price target of $39.60.

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.