Prevail Innovative Wealth Advisors LLC Grows Stock Position in Western Midstream Partners, LP $WES

Key Points

• Prevail Innovative Wealth Advisors increased its stake in Western Midstream Partners by 30.9% in the fourth quarter, bringing its holdings to 99,699 shares valued at about $3.94 million.
• Western Midstream Partners reported better-than-expected quarterly results, posting $0.85 EPS versus $0.74 expected and revenue of $1.12 billion, up 22.5% year over year.
• The company raised its quarterly dividend to $0.93 per share, implying an annualized yield of 8.1%, while analysts currently have a consensus Hold rating with a $43 price target.

Prevail Innovative Wealth Advisors LLC grew its holdings in shares of Western Midstream Partners, LP (NYSE:WES - Free Report) by 30.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 99,699 shares of the pipeline company's stock after purchasing an additional 23,550 shares during the quarter. Prevail Innovative Wealth Advisors LLC's holdings in Western Midstream Partners were worth $3,938,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. IFP Advisors Inc lifted its stake in shares of Western Midstream Partners by 14.4% in the 4th quarter. IFP Advisors Inc now owns 9,681 shares of the pipeline company's stock worth $382,000 after purchasing an additional 1,217 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Western Midstream Partners by 13.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,662 shares of the pipeline company's stock worth $224,000 after purchasing an additional 662 shares during the period. ProShare Advisors LLC lifted its stake in shares of Western Midstream Partners by 26.6% in the 4th quarter. ProShare Advisors LLC now owns 22,286 shares of the pipeline company's stock worth $880,000 after purchasing an additional 4,682 shares during the period. HighTower Advisors LLC lifted its stake in shares of Western Midstream Partners by 12.8% in the 4th quarter. HighTower Advisors LLC now owns 77,729 shares of the pipeline company's stock worth $3,070,000 after purchasing an additional 8,829 shares during the period. Finally, Cascade Financial Partners LLC bought a new position in shares of Western Midstream Partners in the 4th quarter worth approximately $337,000. Institutional investors own 84.82% of the company's stock.

Western Midstream Partners Stock Down 2.9%

WES stock opened at $45.94 on Thursday. Western Midstream Partners, LP has a twelve month low of $36.90 and a twelve month high of $48.01. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 2.34. The stock has a market cap of $18.09 billion, a P/E ratio of 15.01 and a beta of 0.70. The business's 50-day moving average price is $42.06 and its 200-day moving average price is $40.89.

Western Midstream Partners (NYSE:WES - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The pipeline company reported $0.85 earnings per share for the quarter, beating analysts' consensus estimates of $0.74 by $0.11. Western Midstream Partners had a return on equity of 33.89% and a net margin of 29.98%.The firm had revenue of $1.12 billion for the quarter, compared to analysts' expectations of $1.01 billion. During the same period in the previous year, the firm earned $0.79 EPS. The business's quarterly revenue was up 22.5% on a year-over-year basis. On average, equities research analysts forecast that Western Midstream Partners, LP will post 3.38 EPS for the current year.

Western Midstream Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were issued a $0.93 dividend. The ex-dividend date of this dividend was Friday, May 1st. This represents a $3.72 dividend on an annualized basis and a yield of 8.1%. This is a boost from Western Midstream Partners's previous quarterly dividend of $0.91. Western Midstream Partners's payout ratio is presently 121.57%.

Insider Buying and Selling

In other Western Midstream Partners news, Director Robert G. Phillips purchased 1,250 shares of the stock in a transaction that occurred on Wednesday, March 11th. The shares were bought at an average cost of $40.19 per share, with a total value of $50,237.50. Following the acquisition, the director owned 5,296 shares in the company, valued at approximately $212,846.24. This trade represents a 30.89% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.04% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Citigroup increased their price objective on shares of Western Midstream Partners from $39.00 to $42.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 12th. Wells Fargo & Company increased their price objective on shares of Western Midstream Partners from $41.00 to $43.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 13th. Stifel Nicolaus set a $46.00 price objective on shares of Western Midstream Partners and gave the stock a "buy" rating in a research note on Thursday, May 7th. JPMorgan Chase & Co. lowered their price objective on shares of Western Midstream Partners from $44.00 to $43.00 and set a "neutral" rating on the stock in a research note on Thursday, March 12th. Finally, Wall Street Zen upgraded shares of Western Midstream Partners from a "hold" rating to a "buy" rating in a research note on Saturday, May 16th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $43.00.

About Western Midstream Partners

Western Midstream Partners, LP NYSE: WES is a midstream energy infrastructure company that owns, operates and develops an integrated network of crude oil, natural gas and produced water gathering, processing, transportation and storage assets in the United States. The partnership's primary offerings include pipeline transportation, fractionation services, natural gas liquids (NGL) logistics and produced water handling. Through its fee-based and commodity-based contracts, Western Midstream provides its customers with essential services that support efficient energy production and distribution.

The company's asset portfolio spans key onshore basins, including the Delaware Basin in West Texas and southeastern New Mexico, the San Juan Basin in New Mexico and Colorado, and the Denver-Julesburg Basin in Colorado.

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