Western Midstream Partners, LP $WES Shares Sold by Fort Washington Investment Advisors Inc. OH

Key Points

• Fort Washington Investment Advisors cut its Western Midstream Partners stake by 42% in the third quarter, selling 33,099 shares and retaining 45,720 shares valued at approximately $2.03 million.
• Western Midstream reported quarterly EPS of $0.99, exceeding estimates of $0.91, while revenue rose 30% year over year to $1.22 billion. Institutional investors and hedge funds own 84.82% of the company.
• Analyst views remain generally positive, with a consensus “Moderate Buy” rating and an average price target of $49.89; however, several firms maintain neutral or hold ratings.

Fort Washington Investment Advisors Inc. OH reduced its position in shares of Western Midstream Partners, LP (NYSE:WES - Free Report) by 42.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,720 shares of the pipeline company's stock after selling 33,099 shares during the quarter. Fort Washington Investment Advisors Inc. OH's holdings in Western Midstream Partners were worth $2,029,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of WES. Farther Finance Advisors LLC raised its holdings in Western Midstream Partners by 37.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 924 shares of the pipeline company's stock worth $41,000 after purchasing an additional 254 shares during the period. Continuum Advisory LLC acquired a new stake in Western Midstream Partners in the second quarter valued at approximately $41,000. Toth Financial Advisory Corp grew its holdings in Western Midstream Partners by 209.4% in the second quarter. Toth Financial Advisory Corp now owns 1,835 shares of the pipeline company's stock valued at $80,000 after purchasing an additional 1,242 shares during the period. Compass Financial Management LLC purchased a new stake in shares of Western Midstream Partners in the second quarter valued at approximately $132,000. Finally, Geneos Wealth Management Inc. increased its position in shares of Western Midstream Partners by 126.0% in the first quarter. Geneos Wealth Management Inc. now owns 3,587 shares of the pipeline company's stock valued at $148,000 after buying an additional 2,000 shares in the last quarter. 84.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Western Midstream Partners

In other news, Director Frederick Forthuber purchased 5,140 shares of the company's stock in a transaction that occurred on Wednesday, August 12th. The stock was purchased at an average cost of $48.62 per share, for a total transaction of $249,906.80. Following the completion of the transaction, the director owned 5,140 shares of the company's stock, valued at $249,906.80. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.04% of the company's stock.

Western Midstream Partners Trading Up 1.0%

Shares of Western Midstream Partners stock opened at $44.60 on Friday. The firm has a market capitalization of $18.43 billion, a PE ratio of 14.03, a P/E/G ratio of 1.19 and a beta of 0.74. Western Midstream Partners, LP has a twelve month low of $36.90 and a twelve month high of $50.07. The firm's 50-day moving average price is $47.20 and its 200 day moving average price is $45.08. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 2.02.

Western Midstream Partners (NYSE:WES - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The pipeline company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.08. Western Midstream Partners had a return on equity of 33.13% and a net margin of 29.44%. The company had revenue of $1.22 billion for the quarter, compared to analysts' expectations of $1.13 billion. During the same period in the previous year, the firm posted $0.87 EPS. Western Midstream Partners's revenue was up 30.0% compared to the same quarter last year. On average, sell-side analysts predict that Western Midstream Partners, LP will post 3.67 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Citigroup upped their target price on Western Midstream Partners from $42.00 to $45.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 11th. JPMorgan Chase & Co. lifted their price target on shares of Western Midstream Partners from $46.00 to $47.00 and gave the company a "neutral" rating in a research note on Tuesday, July 14th. Wall Street Zen cut shares of Western Midstream Partners from a "buy" rating to a "hold" rating in a research note on Saturday. Zacks Research raised shares of Western Midstream Partners from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 13th. Finally, Royal Bank Of Canada upped their price objective on shares of Western Midstream Partners from $41.00 to $47.00 and gave the stock a "sector perform" rating in a research report on Monday, August 24th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $49.89.

Western Midstream Partners Profile

Western Midstream Partners, LP NYSE: WES is a publicly traded master limited partnership that owns and operates midstream energy infrastructure in the United States. The company provides services that connect oil and natural gas production with processing facilities, pipelines, storage systems and end markets.

Its operations include the gathering, processing, treating, transportation and storage of natural gas, natural gas liquids and crude oil. Western Midstream also provides gathering and disposal services for produced water, a byproduct of oil and gas production.

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