NBW Capital LLC Raises Holdings in Western Midstream Partners, LP (NYSE:WES)

Key Points

• NBW Capital LLC increased its stake in Western Midstream Partners by 3.4%, holding 312,196 shares valued at approximately $12.79 million.
• Western Midstream Partners reported a quarterly earnings per share (EPS) of $0.87, exceeding analyst expectations, with a revenue of $942.32 million during the quarter.
• The company declared a quarterly dividend of $0.91 per share, yielding 9.5%, with a dividend payout ratio of 108.66%.

NBW Capital LLC raised its stake in Western Midstream Partners, LP (NYSE:WES - Free Report) by 3.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 312,196 shares of the pipeline company's stock after acquiring an additional 10,341 shares during the quarter. Western Midstream Partners makes up 2.8% of NBW Capital LLC's holdings, making the stock its 11th biggest position. NBW Capital LLC owned approximately 0.08% of Western Midstream Partners worth $12,788,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Fayez Sarofim & Co lifted its holdings in shares of Western Midstream Partners by 80.2% in the first quarter. Fayez Sarofim & Co now owns 26,490 shares of the pipeline company's stock worth $1,085,000 after buying an additional 11,786 shares in the last quarter. Maryland State Retirement & Pension System boosted its holdings in Western Midstream Partners by 2.8% in the first quarter. Maryland State Retirement & Pension System now owns 164,596 shares of the pipeline company's stock valued at $6,742,000 after acquiring an additional 4,503 shares in the last quarter. Atria Wealth Solutions Inc. lifted its position in Western Midstream Partners by 5.0% during the first quarter. Atria Wealth Solutions Inc. now owns 8,559 shares of the pipeline company's stock valued at $351,000 after buying an additional 411 shares during the period. Sfmg LLC purchased a new position in shares of Western Midstream Partners in the 1st quarter worth about $322,000. Finally, IFG Advisory LLC lifted its stake in shares of Western Midstream Partners by 46.7% in the 1st quarter. IFG Advisory LLC now owns 9,288 shares of the pipeline company's stock worth $380,000 after purchasing an additional 2,958 shares during the period. 84.82% of the stock is currently owned by hedge funds and other institutional investors.

Western Midstream Partners Stock Performance

NYSE WES traded up $0.08 during mid-day trading on Tuesday, reaching $37.58. 823,939 shares of the stock were exchanged, compared to its average volume of 1,175,902. 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 has a market capitalization of $14.33 billion, a P/E ratio of 11.60 and a beta of 1.13. Western Midstream Partners, LP has a 1 year low of $33.60 and a 1 year high of $43.33. The business's 50 day moving average is $39.08 and its 200-day moving average is $39.21.

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, topping the consensus estimate of $0.82 by $0.05. Western Midstream Partners had a net margin of 34.45% and a return on equity of 37.70%. The firm had revenue of $942.32 million for the quarter, compared to the consensus estimate of $954.17 million. During the same period last year, the firm posted $0.97 earnings per share. The company's revenue for the quarter was up 4.1% on a year-over-year basis. On average, equities research analysts forecast that Western Midstream Partners, LP will post 4.02 EPS for the current fiscal year.

Western Midstream Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Friday, August 1st will be paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 9.7%. The ex-dividend date of this dividend is Friday, August 1st. Western Midstream Partners's payout ratio is presently 112.00%.

Analyst Upgrades and Downgrades

Separately, Mizuho reduced their price objective on shares of Western Midstream Partners from $45.00 to $44.00 and set an "outperform" rating for the company in a research note on Tuesday, May 20th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Western Midstream Partners has an average rating of "Hold" and a consensus price target of $39.80.

About Western Midstream Partners

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.