Insider Buying: Western Midstream Partners, LP (NYSE:WES) SVP Acquires 2,500 Shares of Stock

Western Midstream Partners, LP (NYSE:WESGet Rating) SVP Robert W. Bourne purchased 2,500 shares of Western Midstream Partners stock in a transaction dated Friday, June 17th. The stock was acquired at an average cost of $22.90 per share, with a total value of $57,250.00. Following the completion of the acquisition, the senior vice president now directly owns 34,400 shares in the company, valued at $787,760. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

NYSE WES traded down $0.46 during mid-day trading on Friday, hitting $23.22. The stock had a trading volume of 4,399,786 shares, compared to its average volume of 1,337,815. Western Midstream Partners, LP has a 52-week low of $17.97 and a 52-week high of $29.50. The company has a market cap of $9.37 billion, a price-to-earnings ratio of 9.51 and a beta of 3.28. The company has a 50 day simple moving average of $26.05 and a 200 day simple moving average of $24.44. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.89.

Western Midstream Partners (NYSE:WESGet Rating) last released its quarterly earnings results on Tuesday, May 10th. The pipeline company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.14. The company had revenue of $758.30 million during the quarter, compared to the consensus estimate of $701.95 million. Western Midstream Partners had a return on equity of 33.05% and a net margin of 34.94%. Western Midstream Partners’s revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.48 earnings per share. As a group, equities analysts anticipate that Western Midstream Partners, LP will post 2.98 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 13th. Stockholders of record on Monday, May 2nd were given a $0.50 dividend. The ex-dividend date was Friday, April 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 8.61%. This is an increase from Western Midstream Partners’s previous quarterly dividend of $0.33. Western Midstream Partners’s payout ratio is currently 80.32%.

Several analysts have recently commented on WES shares. Mizuho raised their price target on Western Midstream Partners from $31.00 to $32.00 in a report on Friday, May 13th. StockNews.com raised Western Midstream Partners from a “buy” rating to a “strong-buy” rating in a report on Monday, May 23rd. Morgan Stanley raised their price objective on Western Midstream Partners from $29.00 to $31.00 and gave the company an “overweight” rating in a research note on Tuesday, April 26th. Finally, Credit Suisse Group raised their price objective on Western Midstream Partners from $25.00 to $29.00 and gave the company an “outperform” rating in a research note on Thursday, March 10th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $28.83.

Large investors have recently made changes to their positions in the company. Bank of America Corp DE grew its position in shares of Western Midstream Partners by 68.7% in the fourth quarter. Bank of America Corp DE now owns 2,406,879 shares of the pipeline company’s stock valued at $53,601,000 after purchasing an additional 980,260 shares during the period. Royal Bank of Canada grew its position in shares of Western Midstream Partners by 5.9% in the third quarter. Royal Bank of Canada now owns 154,770 shares of the pipeline company’s stock valued at $3,244,000 after purchasing an additional 8,606 shares during the period. Stephens Inc. AR grew its position in shares of Western Midstream Partners by 74.2% in the fourth quarter. Stephens Inc. AR now owns 30,272 shares of the pipeline company’s stock valued at $674,000 after purchasing an additional 12,891 shares during the period. NewEdge Wealth LLC purchased a new stake in shares of Western Midstream Partners in the fourth quarter valued at $281,000. Finally, CWM LLC purchased a new stake in shares of Western Midstream Partners in the fourth quarter valued at $28,000. 41.25% of the stock is owned by institutional investors and hedge funds.

About Western Midstream Partners (Get Rating)

Western Midstream Partners, LP, a midstream energy company, together with its subsidiaries, acquires, owns, develops, and operates 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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