Prevail Innovative Wealth Advisors LLC Takes $2.99 Million Position in Western Midstream Partners, LP $WES

Key Points

• Prevail Innovative Wealth Advisors opened a new stake of 76,149 shares in Western Midstream (about $2.99 million) in the third quarter, reflecting fresh institutional interest in the stock.
• Western Midstream missed quarterly estimates, reporting $0.47 EPS versus $0.91 expected and $1.03 billion in revenue versus $1.06 billion expected, although revenue was up 11.1% year-over-year.
• The partnership pays a high dividend of $0.91 quarterly (annualized $3.64) for an 8.7% yield

Prevail Innovative Wealth Advisors LLC acquired a new position in Western Midstream Partners, LP (NYSE:WES - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 76,149 shares of the pipeline company's stock, valued at approximately $2,992,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Jones Financial Companies Lllp raised its stake in shares of Western Midstream Partners by 86.1% during the third quarter. Jones Financial Companies Lllp now owns 908 shares of the pipeline company's stock valued at $36,000 after acquiring an additional 420 shares in the last quarter. MTM Investment Management LLC purchased a new stake in shares of Western Midstream Partners during the 2nd quarter worth $39,000. Allworth Financial LP bought a new stake in shares of Western Midstream Partners in the 2nd quarter valued at about $43,000. Mather Group LLC. bought a new stake in shares of Western Midstream Partners in the 3rd quarter valued at about $49,000. Finally, Global Retirement Partners LLC grew its position in shares of Western Midstream Partners by 39.0% in the 3rd quarter. Global Retirement Partners LLC now owns 1,850 shares of the pipeline company's stock worth $73,000 after buying an additional 519 shares during the last quarter. 84.82% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Western Midstream Partners

In other news, SVP Christopher B. Dial sold 5,879 shares of the stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $42.35, for a total transaction of $248,975.65. Following the transaction, the senior vice president owned 185,011 shares in the company, valued at $7,835,215.85. This trade represents a 3.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.04% of the stock is currently owned by insiders.

Analysts Set New Price Targets

WES has been the subject of several recent analyst reports. Wall Street Zen lowered shares of Western Midstream Partners from a "buy" rating to a "hold" rating in a research note on Saturday, December 27th. Stifel Nicolaus lowered their target price on shares of Western Midstream Partners from $43.00 to $42.00 and set a "hold" rating for the company in a research note on Friday, February 20th. Wells Fargo & Company cut their price target on shares of Western Midstream Partners from $40.00 to $39.00 and set an "equal weight" rating on the stock in a report on Thursday, January 22nd. Finally, Royal Bank Of Canada upped their price target on Western Midstream Partners from $39.00 to $42.00 and gave the stock a "sector perform" rating in a research report on Friday, November 28th. One research analyst has 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. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $41.17.

Western Midstream Partners Stock Down 0.9%

Western Midstream Partners stock opened at $41.82 on Friday. The business's 50-day moving average price is $41.25 and its 200 day moving average price is $39.58. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.97. The firm has a market cap of $16.46 billion, a price-to-earnings ratio of 13.94 and a beta of 0.76. Western Midstream Partners, LP has a 52 week low of $33.60 and a 52 week high of $44.74.

Western Midstream Partners (NYSE:WES - Get Free Report) last announced its quarterly earnings results on Wednesday, February 18th. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.91 by ($0.44). Western Midstream Partners had a net margin of 30.52% and a return on equity of 33.14%. The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same period in the previous year, the firm posted $0.85 earnings per share. The company's revenue was up 11.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Western Midstream Partners, LP will post 4.02 earnings per share for the current year.

Western Midstream Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Monday, February 2nd were issued a $0.91 dividend. The ex-dividend date of this dividend was Monday, February 2nd. This represents a $3.64 dividend on an annualized basis and a yield of 8.7%. Western Midstream Partners's dividend payout ratio is presently 121.33%.

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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