Spirit of America Management Corp NY Has $3.96 Million Holdings in Western Midstream Partners, LP $WES

Key Points

• Spirit of America Management Corp NY cut its stake in Western Midstream Partners by 21.2% in Q4, now holding 100,150 shares worth about $3.956 million, roughly 0.8% of its portfolio and the firm's 29th largest position.
• Western Midstream missed quarterly EPS estimates, reporting $0.47 vs. the consensus $0.91, and posted revenue of $1.03 billion (slightly below estimates) though revenue was up 11.1% year‑over‑year.
• The partnership pays a generous quarterly dividend of $0.91 (annualized $3.64, yield 8.8%), but the payout ratio is high at 121.33%, which could raise sustainability concerns.

Spirit of America Management Corp NY lowered its position in Western Midstream Partners, LP (NYSE:WES - Free Report) by 21.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 100,150 shares of the pipeline company's stock after selling 27,000 shares during the period. Western Midstream Partners accounts for approximately 0.8% of Spirit of America Management Corp NY's portfolio, making the stock its 29th largest position. Spirit of America Management Corp NY's holdings in Western Midstream Partners were worth $3,956,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC raised its stake in Western Midstream Partners by 6.4% during the second quarter. Geode Capital Management LLC now owns 8,525 shares of the pipeline company's stock worth $330,000 after buying an additional 512 shares during the last quarter. Creative Planning boosted its position in Western Midstream Partners by 17.0% during the second quarter. Creative Planning now owns 6,878 shares of the pipeline company's stock valued at $266,000 after acquiring an additional 999 shares during the last quarter. Choreo LLC grew its holdings in Western Midstream Partners by 4.9% during the 2nd quarter. Choreo LLC now owns 9,716 shares of the pipeline company's stock worth $376,000 after acquiring an additional 456 shares during the period. Guggenheim Capital LLC grew its holdings in Western Midstream Partners by 6.0% during the 2nd quarter. Guggenheim Capital LLC now owns 23,029 shares of the pipeline company's stock worth $891,000 after acquiring an additional 1,298 shares during the period. Finally, Quantum Portfolio Management LLC raised its position in shares of Western Midstream Partners by 12.0% in the 2nd quarter. Quantum Portfolio Management LLC now owns 22,165 shares of the pipeline company's stock worth $858,000 after acquiring an additional 2,370 shares in the last quarter. 84.82% of the stock is owned by institutional investors.

Western Midstream Partners Trading Down 0.5%

WES opened at $41.56 on Tuesday. The company has a fifty day moving average price of $41.51 and a two-hundred day moving average price of $39.93. Western Midstream Partners, LP has a 1-year low of $33.60 and a 1-year high of $44.74. The company has a market cap of $16.36 billion, a P/E ratio of 13.85 and a beta of 0.76. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.97.

Western Midstream Partners (NYSE:WES - Get Free Report) last released its quarterly earnings data 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 return on equity of 33.14% and a net margin of 30.52%.The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period last year, the company earned $0.85 EPS. Western Midstream Partners's revenue for the quarter was up 11.1% compared to the same quarter last year. Analysts predict that Western Midstream Partners, LP will post 4.02 EPS for the current fiscal year.

Western Midstream Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Monday, February 2nd were issued a $0.91 dividend. The ex-dividend date was Monday, February 2nd. This represents a $3.64 annualized dividend and a yield of 8.8%. Western Midstream Partners's dividend payout ratio is presently 121.33%.

Insider Buying and Selling

In other Western Midstream Partners news, SVP Christopher B. Dial sold 5,879 shares of the firm's stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $42.35, for a total value of $248,975.65. Following the completion of the sale, the senior vice president owned 185,011 shares of the company's stock, valued at approximately $7,835,215.85. This trade represents a 3.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robert G. Phillips acquired 1,250 shares of the firm's stock in a transaction dated Wednesday, March 11th. The shares were purchased at an average price of $40.19 per share, with a total value of $50,237.50. Following the acquisition, the director owned 5,296 shares of the company's stock, valued at approximately $212,846.24. This represents a 30.89% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.04% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on WES. Wells Fargo & Company boosted their price objective on Western Midstream Partners from $39.00 to $41.00 and gave the company an "equal weight" rating in a research note on Friday, March 13th. JPMorgan Chase & Co. lowered their target price on Western Midstream Partners from $44.00 to $43.00 and set a "neutral" rating for the company in a report on Thursday, March 12th. Wall Street Zen lowered Western Midstream Partners from a "buy" rating to a "hold" rating in a research note on Saturday, December 27th. Finally, Stifel Nicolaus cut their price target on Western Midstream Partners from $43.00 to $42.00 and set a "hold" rating on the stock in a report on Friday, February 20th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Western Midstream Partners currently has a consensus rating of "Hold" and a consensus target price of $41.71.

Western Midstream Partners Profile

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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