GraniteShares Advisors LLC Invests $1.52 Million in Western Midstream Partners, LP (NYSE:WES)

GraniteShares Advisors LLC acquired a new position in Western Midstream Partners, LP (NYSE:WES - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm acquired 51,986 shares of the pipeline company's stock, valued at approximately $1,521,000. Western Midstream Partners accounts for 1.4% of GraniteShares Advisors LLC's investment portfolio, making the stock its 8th biggest holding.

Several other hedge funds have also modified their holdings of the stock. Larson Financial Group LLC acquired a new position in shares of Western Midstream Partners in the 3rd quarter valued at approximately $27,000. Tower Research Capital LLC TRC acquired a new position in shares of Western Midstream Partners in the 1st quarter valued at approximately $27,000. Retirement Group LLC increased its holdings in shares of Western Midstream Partners by 52.4% in the 2nd quarter. Retirement Group LLC now owns 1,105 shares of the pipeline company's stock valued at $29,000 after acquiring an additional 380 shares during the last quarter. Ronald Blue Trust Inc. bought a new stake in shares of Western Midstream Partners in the 3rd quarter valued at approximately $32,000. Finally, Fortitude Family Office LLC bought a new stake in shares of Western Midstream Partners in the 4th quarter valued at approximately $43,000. 42.94% of the stock is currently owned by hedge funds and other institutional investors.

Western Midstream Partners Stock Performance

Shares of NYSE:WES traded down $0.20 on Tuesday, hitting $34.04. The company's stock had a trading volume of 1,153,359 shares, compared to its average volume of 1,275,796. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.76 and a current ratio of 0.76. The company has a market capitalization of $12.95 billion, a price-to-earnings ratio of 13.05 and a beta of 2.83. The stock's 50-day moving average is $33.24 and its two-hundred day moving average is $29.93. Western Midstream Partners, LP has a 12 month low of $24.89 and a 12 month high of $36.79.

Western Midstream Partners (NYSE:WES - Get Free Report) last announced its quarterly earnings data on Wednesday, February 21st. The pipeline company reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.04). The firm had revenue of $858.21 million during the quarter, compared to analyst estimates of $850.23 million. Western Midstream Partners had a net margin of 32.72% and a return on equity of 33.58%. The company's quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.85 EPS. On average, equities research analysts forecast that Western Midstream Partners, LP will post 3.44 EPS for the current year.

Western Midstream Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 13th. Stockholders of record on Thursday, February 1st were issued a $0.575 dividend. The ex-dividend date was Wednesday, January 31st. This represents a $2.30 annualized dividend and a dividend yield of 6.76%. Western Midstream Partners's dividend payout ratio (DPR) is 88.46%.

Insider Activity

In related news, Director Kenneth F. Owen bought 7,000 shares of Western Midstream Partners stock in a transaction dated Monday, February 26th. The stock was acquired at an average cost of $33.96 per share, with a total value of $237,720.00. Following the completion of the acquisition, the director now directly owns 32,730 shares in the company, valued at approximately $1,111,510.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Kenneth F. Owen bought 7,000 shares of Western Midstream Partners stock in a transaction dated Monday, February 26th. The stock was acquired at an average cost of $33.96 per share, with a total value of $237,720.00. Following the completion of the acquisition, the director now directly owns 32,730 shares in the company, valued at approximately $1,111,510.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lisa A. Stewart bought 2,500 shares of Western Midstream Partners stock in a transaction dated Wednesday, March 6th. The shares were bought at an average cost of $34.87 per share, with a total value of $87,175.00. Following the completion of the acquisition, the director now owns 30,730 shares of the company's stock, valued at $1,071,555.10. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

WES has been the subject of a number of research analyst reports. Stifel Nicolaus boosted their price target on Western Midstream Partners from $35.00 to $36.00 and gave the company a "buy" rating in a report on Friday, February 23rd. Citigroup downgraded Western Midstream Partners from a "buy" rating to a "neutral" rating and boosted their price target for the company from $30.00 to $34.00 in a report on Thursday, February 29th. Finally, Raymond James reiterated a "market perform" rating on shares of Western Midstream Partners in a report on Tuesday, March 19th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Western Midstream Partners has a consensus rating of "Hold" and a consensus target price of $30.75.

Western Midstream Partners Profile

Western Midstream Partners, LP, together with its subsidiaries, operates as a midstream energy company primarily in the United States. It is involved in gathering, compressing, treating, processing, and transporting natural gas; gathering, stabilizing, and transporting condensate, natural gas liquids (NGLs), and crude oil; and gathering and disposing produced water.

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