NBW Capital LLC Purchases 10,341 Shares of 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 grew its holdings in Western Midstream Partners, LP (NYSE:WES - Free Report) by 3.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 312,196 shares of the pipeline company's stock after acquiring an additional 10,341 shares during the period. Western Midstream Partners accounts for approximately 2.8% of NBW Capital LLC's holdings, making the stock its 11th largest position. NBW Capital LLC owned about 0.08% of Western Midstream Partners worth $12,788,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of WES. Envestnet Asset Management Inc. lifted its position in shares of Western Midstream Partners by 7.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 142,877 shares of the pipeline company's stock worth $5,491,000 after purchasing an additional 10,343 shares during the last quarter. Raymond James Financial Inc. bought a new position in Western Midstream Partners during the fourth quarter worth about $19,079,000. Rockefeller Capital Management L.P. boosted its stake in Western Midstream Partners by 5.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 40,912 shares of the pipeline company's stock valued at $1,572,000 after buying an additional 2,084 shares in the last quarter. RE Dickinson Investment Advisors LLC raised its stake in Western Midstream Partners by 21.8% during the fourth quarter. RE Dickinson Investment Advisors LLC now owns 2,168 shares of the pipeline company's stock worth $83,000 after acquiring an additional 388 shares in the last quarter. Finally, Barclays PLC grew its stake in Western Midstream Partners by 83.1% during the fourth quarter. Barclays PLC now owns 1,404,381 shares of the pipeline company's stock worth $53,971,000 after buying an additional 637,266 shares during the last quarter. Institutional investors and hedge funds own 84.82% of the company's stock.

Wall Street Analyst Weigh In

Separately, Mizuho cut their price target on Western Midstream Partners from $45.00 to $44.00 and set an "outperform" rating for the company in a report on Tuesday, May 20th. Two equities research 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, the stock currently has a consensus rating of "Hold" and a consensus target price of $39.80.

Western Midstream Partners Trading Down 1.0%

Shares of Western Midstream Partners stock traded down $0.39 on Friday, hitting $38.05. 2,640,446 shares of the company's stock traded hands, compared to its average volume of 1,064,494. Western Midstream Partners, LP has a one year low of $33.60 and a one year high of $43.33. The firm's 50-day moving average price is $39.09 and its two-hundred day moving average price is $39.26. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.30 and a quick ratio of 1.18. The stock has a market capitalization of $14.51 billion, a PE ratio of 11.71 and a beta of 1.13.

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

Western Midstream Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Friday, August 1st will be given a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 9.6%. The ex-dividend date of this dividend is Friday, August 1st. Western Midstream Partners's payout ratio is currently 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.