Novem Group Buys Shares of 18,096 Western Midstream Partners, LP (NYSE:WES)

Novem Group bought a new position in Western Midstream Partners, LP (NYSE:WES - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 18,096 shares of the pipeline company's stock, valued at approximately $695,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Samalin Investment Counsel LLC purchased a new position in shares of Western Midstream Partners in the fourth quarter valued at about $1,085,000. Caprock Group LLC boosted its position in shares of Western Midstream Partners by 236.9% during the fourth quarter. Caprock Group LLC now owns 17,869 shares of the pipeline company's stock worth $687,000 after acquiring an additional 12,565 shares during the last quarter. Penbrook Management LLC bought a new position in shares of Western Midstream Partners in the 4th quarter valued at about $246,000. Empowered Funds LLC purchased a new stake in Western Midstream Partners in the fourth quarter worth $53,000. Finally, Daymark Wealth Partners LLC boosted its stake in shares of Western Midstream Partners by 27.7% during the fourth quarter. Daymark Wealth Partners LLC now owns 41,901 shares of the pipeline company's stock valued at $1,610,000 after purchasing an additional 9,094 shares in the last quarter. Hedge funds and other institutional investors own 84.82% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. 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 report on Tuesday, May 20th. Wall Street Zen upgraded Western Midstream Partners from a "hold" rating to a "buy" rating in a research note on Saturday, March 8th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Western Midstream Partners presently has a consensus rating of "Hold" and a consensus target price of $39.83.

Western Midstream Partners Stock Performance

Shares of NYSE WES traded up $0.19 during trading hours on Tuesday, reaching $39.13. The stock had a trading volume of 266,127 shares, compared to its average volume of 1,228,722. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.11 and a quick ratio of 1.11. The business's fifty day moving average is $38.42 and its two-hundred day moving average is $39.37. The company has a market cap of $14.92 billion, a price-to-earnings ratio of 9.99, a PEG ratio of 1.40 and a beta of 1.12. Western Midstream Partners, LP has a twelve month low of $33.60 and a twelve month high of $43.33.

Western Midstream Partners (NYSE:WES - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The pipeline company reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.04). The firm had revenue of $917.12 million for the quarter, compared to the consensus estimate of $926.55 million. Western Midstream Partners had a net margin of 42.99% and a return on equity of 46.02%. The company's revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.47 earnings per share. As a group, research analysts expect that Western Midstream Partners, LP will post 4.02 EPS for the current 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 issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 9.30%. This is a boost from Western Midstream Partners's previous quarterly dividend of $0.88. The ex-dividend date was Friday, May 2nd. Western Midstream Partners's payout ratio is currently 108.66%.

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.