Western Midstream Partners, LP $WES Shares Sold by Eagle Global Advisors LLC

Key Points

• Eagle Global Advisors trimmed its position in Western Midstream Partners by 10.4%, selling 145,970 shares and leaving a 1,251,250‑share stake worth about $49.4 million (roughly 0.31% of the company), making WES its 16th largest holding.
• Quarterly results missed expectations: WES reported $0.47 EPS vs. $0.91 consensus and $1.03 billion in revenue vs. $1.06 billion expected, although revenue was up 11.1% year‑over‑year.
• Dividend raised to $0.93 per quarter (annualized $3.72) for a ~9.2% yield with an ex‑dividend date of May 1, but the payout ratio is a high 121.33%, which may raise sustainability concerns.

Eagle Global Advisors LLC lessened its position in Western Midstream Partners, LP (NYSE:WES - Free Report) by 10.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,251,250 shares of the pipeline company's stock after selling 145,970 shares during the period. Western Midstream Partners comprises 1.8% of Eagle Global Advisors LLC's portfolio, making the stock its 16th largest holding. Eagle Global Advisors LLC owned approximately 0.31% of Western Midstream Partners worth $49,424,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Eagle Bay Advisors LLC acquired a new position in shares of Western Midstream Partners in the fourth quarter valued at approximately $27,000. Global Wealth Strategies & Associates acquired a new position in shares of Western Midstream Partners in the fourth quarter valued at approximately $35,000. Jones Financial Companies Lllp raised its position in shares of Western Midstream Partners by 86.1% in the third quarter. Jones Financial Companies Lllp now owns 908 shares of the pipeline company's stock valued at $36,000 after buying an additional 420 shares during the last quarter. Fulcrum Asset Management LLP acquired a new position in shares of Western Midstream Partners in the third quarter valued at approximately $41,000. Finally, Whittier Trust Co. acquired a new position in shares of Western Midstream Partners in the fourth quarter valued at approximately $42,000. Institutional investors and hedge funds own 84.82% of the company's stock.

Western Midstream Partners Price Performance

Western Midstream Partners stock opened at $40.51 on Wednesday. Western Midstream Partners, LP has a 1 year low of $35.25 and a 1 year high of $44.74. The firm has a 50 day moving average price of $41.48 and a 200 day moving average price of $40.17. The company has a market cap of $15.95 billion, a price-to-earnings ratio of 13.50 and a beta of 0.73. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.34 and a current ratio of 1.34.

Western Midstream Partners (NYSE:WES - Get Free Report) last released its 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 analysts' expectations of $1.06 billion. During the same quarter in the previous year, the firm posted $0.85 earnings per share. Western Midstream Partners's revenue for the quarter was up 11.1% compared to the same quarter last year. Sell-side analysts predict that Western Midstream Partners, LP will post 3.2 earnings per share for the current year.

Western Midstream Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Friday, May 1st will be paid a dividend of $0.93 per share. This is an increase from Western Midstream Partners's previous quarterly dividend of $0.91. This represents a $3.72 annualized dividend and a yield of 9.2%. The ex-dividend date is Friday, May 1st. Western Midstream Partners's payout ratio is presently 121.33%.

Insider Activity at Western Midstream Partners

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on WES. Wells Fargo & Company boosted their price objective on shares of Western Midstream Partners from $39.00 to $41.00 and gave the company an "equal weight" rating in a research report on Friday, March 13th. JPMorgan Chase & Co. lowered 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 report on Thursday, March 12th. Wall Street Zen downgraded shares of Western Midstream Partners from a "buy" rating to a "hold" rating in a report on Saturday, December 27th. Finally, 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 report on Friday, February 20th. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Western Midstream Partners currently has a consensus rating of "Hold" and an average price target 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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