MGO One Seven LLC Buys 50,193 Shares of Western Midstream Partners, LP (NYSE:WES)

Key Points

• MGO One Seven LLC increased its stake in Western Midstream Partners by 36.7%, purchasing an additional 50,193 shares, bringing its total holdings to 186,932 shares valued at approximately $7.7 million.
• Western Midstream Partners missed earnings expectations, reporting $0.79 EPS for the latest quarter, below the expected $0.83 EPS, and had revenue of $917.12 million, falling short of the consensus estimate.
• The company declared a quarterly $0.91 dividend, representing a 9.00% dividend yield, with the dividend payout ratio at 108.66%.

MGO One Seven LLC grew its stake in shares of Western Midstream Partners, LP (NYSE:WES - Free Report) by 36.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 186,932 shares of the pipeline company's stock after purchasing an additional 50,193 shares during the period. MGO One Seven LLC's holdings in Western Midstream Partners were worth $7,657,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of WES. Princeton Global Asset Management LLC raised its position in Western Midstream Partners by 133.3% during 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. Cary Street Partners Financial LLC acquired a new position in Western Midstream Partners during the fourth quarter valued at $39,000. Bessemer Group Inc. acquired a new position in Western Midstream Partners during the first quarter valued at $41,000. Creative Financial Designs Inc. ADV acquired a new position in Western Midstream Partners during the first quarter valued at $72,000. Finally, RE Dickinson Investment Advisors LLC increased its position in Western Midstream Partners by 21.8% in the 4th quarter. RE Dickinson Investment Advisors LLC now owns 2,168 shares of the pipeline company's stock worth $83,000 after purchasing an additional 388 shares during the last quarter. 84.82% of the stock is owned by hedge funds and other institutional investors.

Western Midstream Partners Stock Down 3.3%

Shares of NYSE WES traded down $1.34 during mid-day trading on Friday, reaching $39.39. 940,179 shares of the company traded hands, compared to its average volume of 799,814. The company's fifty day moving average is $38.98 and its two-hundred day moving average is $39.36. Western Midstream Partners, LP has a fifty-two week low of $33.60 and a fifty-two week high of $43.33. The stock has a market cap of $15.02 billion, a PE ratio of 11.76 and a beta of 1.13. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.18 and a current ratio of 1.18.

Western Midstream Partners (NYSE:WES - Get Free Report) last announced its earnings results on Wednesday, May 7th. The pipeline company reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.04). Western Midstream Partners had a net margin of 35.79% and a return on equity of 38.52%. The business had revenue of $917.12 million for the quarter, compared to the consensus estimate of $926.55 million. During the same quarter in the previous year, the company earned $1.47 EPS. Western Midstream Partners's revenue for the quarter was up 3.3% compared to the same quarter last year. On average, analysts expect that Western Midstream Partners, LP will post 4.02 earnings per share for the current year.

Western Midstream Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Friday, August 1st will be given a $0.91 dividend. The ex-dividend date is Friday, August 1st. This represents a $3.64 dividend on an annualized basis and a dividend yield of 9.2%. Western Midstream Partners's dividend payout ratio (DPR) is currently 108.66%.

Analyst Ratings Changes

Separately, Mizuho dropped their target price on Western Midstream Partners from $45.00 to $44.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 20th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $39.83.

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.