Western Midstream Partners, LP $WES is Texas Yale Capital Corp.'s 10th Largest Position

Key Points

• Texas Yale Capital Corp. increased its stake in Western Midstream Partners by 7.5% in the fourth quarter, making WES its 10th largest holding and representing about 0.7% of its portfolio.
• Western Midstream reported better-than-expected quarterly results, posting EPS of $0.85 versus estimates of $0.74 and revenue of $1.12 billion versus $1.01 billion expected.
• The company also raised its quarterly dividend to $0.93 per share, translating to an annualized yield of 8.7%, while analysts currently rate the stock a consensus “Hold” with an average target price of $44.75.

Texas Yale Capital Corp. raised its position in shares of Western Midstream Partners, LP (NYSE:WES - Free Report) by 7.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 619,271 shares of the pipeline company's stock after buying an additional 43,462 shares during the period. Western Midstream Partners comprises about 0.7% of Texas Yale Capital Corp.'s investment portfolio, making the stock its 10th biggest holding. Texas Yale Capital Corp. owned approximately 0.15% of Western Midstream Partners worth $24,461,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in WES. Eagle Bay Advisors LLC purchased a new stake in Western Midstream Partners during the 4th quarter valued at $27,000. Northwestern Mutual Wealth Management Co. purchased a new stake in Western Midstream Partners during the 4th quarter valued at $27,000. Rothschild Investment LLC boosted its position in Western Midstream Partners by 76.2% during the 4th quarter. Rothschild Investment LLC now owns 793 shares of the pipeline company's stock valued at $31,000 after buying an additional 343 shares during the period. Global Wealth Strategies & Associates purchased a new stake in Western Midstream Partners during the 4th quarter valued at $35,000. Finally, Jones Financial Companies Lllp lifted its position in shares of Western Midstream Partners by 86.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 908 shares of the pipeline company's stock worth $36,000 after purchasing an additional 420 shares during the period. Hedge funds and other institutional investors own 84.82% of the company's stock.

Western Midstream Partners Trading Down 2.5%

NYSE:WES opened at $42.80 on Friday. The company has a 50-day moving average price of $42.63 and a 200-day moving average price of $41.21. Western Midstream Partners, LP has a 12 month low of $36.90 and a 12 month high of $48.01. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.34. The stock has a market cap of $16.85 billion, a price-to-earnings ratio of 13.99, a P/E/G ratio of 1.82 and a beta of 0.70.

Western Midstream Partners (NYSE:WES - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The pipeline company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.11. The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.01 billion. Western Midstream Partners had a net margin of 29.98% and a return on equity of 33.89%. Western Midstream Partners's quarterly revenue was up 22.5% compared to the same quarter last year. During the same period last year, the business earned $0.79 EPS. Equities analysts predict that Western Midstream Partners, LP will post 3.41 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 paid a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 8.7%. The ex-dividend date was Friday, May 1st. This is a positive change from Western Midstream Partners's previous quarterly dividend of $0.91. Western Midstream Partners's dividend payout ratio (DPR) is 121.57%.

Wall Street Analysts Forecast Growth

WES has been the subject of several research analyst reports. US Capital Advisors raised shares of Western Midstream Partners from a "moderate buy" rating to a "strong-buy" rating in a research report on Friday. Wells Fargo & Company raised their target price on shares of Western Midstream Partners from $41.00 to $43.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 13th. Citigroup raised their target price on shares of Western Midstream Partners from $39.00 to $42.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 12th. JPMorgan Chase & Co. dropped their target price on shares of Western Midstream Partners from $44.00 to $43.00 and set a "neutral" rating for the company in a research report on Thursday, March 12th. Finally, UBS Group raised their target price on shares of Western Midstream Partners from $40.00 to $45.00 and gave the stock a "neutral" rating in a research report on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $44.75.

Insider Activity

In other Western Midstream Partners news, Director Robert G. Phillips purchased 1,250 shares of the firm's stock in a transaction that occurred on Wednesday, March 11th. The stock was bought at an average cost of $40.19 per share, for a total transaction of $50,237.50. Following the purchase, the director directly owned 5,296 shares in the company, valued at $212,846.24. The trade was a 30.89% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.04% of the stock is currently owned by insiders.

Western Midstream Partners Company 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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