Chickasaw Capital Management LLC Buys 99,518 Shares of Western Midstream Partners, LP (NYSE:WES)

Chickasaw Capital Management LLC grew its stake in shares of Western Midstream Partners, LP (NYSE:WES) by 1.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,755,387 shares of the pipeline company’s stock after purchasing an additional 99,518 shares during the period. Western Midstream Partners comprises about 10.5% of Chickasaw Capital Management LLC’s holdings, making the stock its 4th biggest holding. Chickasaw Capital Management LLC owned 1.78% of Western Midstream Partners worth $259,610,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cedar Mountain Advisors LLC lifted its stake in Western Midstream Partners by 16.1% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 2,158 shares of the pipeline company’s stock worth $83,000 after acquiring an additional 299 shares in the last quarter. Bleakley Financial Group LLC lifted its position in Western Midstream Partners by 5.8% in the 3rd quarter. Bleakley Financial Group LLC now owns 5,711 shares of the pipeline company’s stock worth $218,000 after buying an additional 311 shares in the last quarter. Concurrent Investment Advisors LLC boosted its stake in shares of Western Midstream Partners by 6.2% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 6,053 shares of the pipeline company’s stock valued at $232,000 after buying an additional 352 shares during the period. Truist Financial Corp boosted its stake in shares of Western Midstream Partners by 1.9% during the 2nd quarter. Truist Financial Corp now owns 22,508 shares of the pipeline company’s stock valued at $894,000 after buying an additional 421 shares during the period. Finally, Albert D Mason Inc. grew its holdings in shares of Western Midstream Partners by 1.0% during the 3rd quarter. Albert D Mason Inc. now owns 49,261 shares of the pipeline company’s stock valued at $1,885,000 after acquiring an additional 501 shares in the last quarter. Institutional investors and hedge funds own 84.82% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on WES. Royal Bank of Canada reissued a “sector perform” rating and issued a $41.00 price objective on shares of Western Midstream Partners in a research report on Monday, December 9th. UBS Group lowered their price objective on Western Midstream Partners from $40.00 to $37.00 and set a “neutral” rating on the stock in a research note on Friday, November 15th. US Capital Advisors raised Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Morgan Stanley lowered Western Midstream Partners from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $42.00 to $40.00 in a research note on Friday, October 25th. Finally, Bank of America started coverage on shares of Western Midstream Partners in a research note on Thursday, October 17th. They issued an “underperform” rating and a $37.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, Western Midstream Partners currently has an average rating of “Hold” and an average price target of $37.88.

Western Midstream Partners Trading Down 0.3 %

WES stock traded down $0.11 during midday trading on Tuesday, reaching $39.54. The stock had a trading volume of 547,147 shares, compared to its average volume of 974,427. The firm has a market cap of $15.05 billion, a price-to-earnings ratio of 10.09, a PEG ratio of 1.08 and a beta of 2.90. Western Midstream Partners, LP has a twelve month low of $27.49 and a twelve month high of $42.80. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.05. The business has a fifty day simple moving average of $38.58 and a two-hundred day simple moving average of $39.05.

Western Midstream Partners (NYSE:WES) last announced its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.09). The business had revenue of $883.36 million during the quarter, compared to analyst estimates of $924.83 million. Western Midstream Partners had a net margin of 42.99% and a return on equity of 46.02%. The company’s quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.70 earnings per share. As a group, research analysts expect that Western Midstream Partners, LP will post 4.03 EPS for the current fiscal year.

Western Midstream Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were given a dividend of $0.875 per share. This represents a $3.50 dividend on an annualized basis and a dividend yield of 8.85%. The ex-dividend date was Friday, November 1st. Western Midstream Partners’s dividend payout ratio is currently 89.29%.

Western Midstream Partners Company 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.