Inscription Capital LLC Purchases New Position in Western Midstream Partners, LP (NYSE:WES)

Inscription Capital LLC acquired a new position in Western Midstream Partners, LP (NYSE:WES - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 11,274 shares of the pipeline company's stock, valued at approximately $462,000.

A number of other institutional investors have also recently made changes to their positions in WES. Empowered Funds LLC acquired a new stake in Western Midstream Partners during the 4th quarter worth about $53,000. Van ECK Associates Corp lifted its position in Western Midstream Partners by 39.2% during the 4th quarter. Van ECK Associates Corp now owns 42,612 shares of the pipeline company's stock worth $1,638,000 after acquiring an additional 11,996 shares during the period. Sanctuary Advisors LLC lifted its position in Western Midstream Partners by 11.0% during the 4th quarter. Sanctuary Advisors LLC now owns 19,241 shares of the pipeline company's stock worth $739,000 after acquiring an additional 1,909 shares during the period. D.A. Davidson & CO. lifted its position in Western Midstream Partners by 8.1% during the 4th quarter. D.A. Davidson & CO. now owns 48,306 shares of the pipeline company's stock worth $1,856,000 after acquiring an additional 3,602 shares during the period. Finally, Venturi Wealth Management LLC acquired a new stake in Western Midstream Partners during the 4th quarter worth about $113,000. Institutional investors and hedge funds own 84.82% of the company's stock.

Western Midstream Partners Stock Performance

Shares of NYSE WES traded up $0.43 during trading on Friday, reaching $38.54. 653,644 shares of the company traded hands, compared to its average volume of 1,214,936. The firm's fifty day simple moving average is $38.09 and its 200 day simple moving average is $39.33. The stock has a market cap of $14.70 billion, a P/E ratio of 11.50 and a beta of 1.09. Western Midstream Partners, LP has a 12-month low of $33.60 and a 12-month high of $43.33. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 2.08.

Western Midstream Partners (NYSE:WES - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The pipeline company reported $0.79 earnings per share for the quarter, missing analysts' consensus estimates of $0.83 by ($0.04). The company had revenue of $917.12 million for the quarter, compared to analysts' expectations of $926.55 million. Western Midstream Partners had a net margin of 35.79% and a return on equity of 38.52%. The business's quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.47 EPS. As a group, research analysts anticipate that Western Midstream Partners, LP will post 4.02 earnings per share for the current fiscal year.

Western Midstream Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Friday, May 2nd were paid a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 9.45%. The ex-dividend date was Friday, May 2nd. This is a positive change from Western Midstream Partners's previous quarterly dividend of $0.88. Western Midstream Partners's payout ratio is currently 108.66%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on WES. Mizuho lowered their price target on Western Midstream Partners from $45.00 to $44.00 and set an "outperform" rating for the company in a research report on Tuesday, May 20th. Wall Street Zen raised Western Midstream Partners from a "hold" rating to a "buy" rating in a research report on Saturday, March 8th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Western Midstream Partners has a consensus rating of "Hold" and an average target price of $39.83.

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.