CQS Cayman LP Takes $2.65 Million Position in Western Midstream Partners LP (NYSE:WES)

CQS Cayman LP bought a new stake in shares of Western Midstream Partners LP (NYSE:WES) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 86,000 shares of the pipeline company’s stock, valued at approximately $2,646,000.

Several other large investors have also recently bought and sold shares of the company. Chilton Capital Management LLC increased its holdings in shares of Western Midstream Partners by 0.7% during the 2nd quarter. Chilton Capital Management LLC now owns 88,876 shares of the pipeline company’s stock valued at $2,735,000 after purchasing an additional 595 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of Western Midstream Partners by 3.3% during the 2nd quarter. Van ECK Associates Corp now owns 23,119 shares of the pipeline company’s stock valued at $711,000 after purchasing an additional 728 shares in the last quarter. Westside Investment Management Inc. purchased a new position in shares of Western Midstream Partners during the 2nd quarter valued at approximately $27,000. US Bancorp DE increased its holdings in shares of Western Midstream Partners by 4.4% during the 2nd quarter. US Bancorp DE now owns 30,111 shares of the pipeline company’s stock valued at $927,000 after purchasing an additional 1,273 shares in the last quarter. Finally, Edge Capital Group LLC increased its holdings in shares of Western Midstream Partners by 12.8% during the 2nd quarter. Edge Capital Group LLC now owns 11,915 shares of the pipeline company’s stock valued at $367,000 after purchasing an additional 1,353 shares in the last quarter. 43.29% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have recently weighed in on WES shares. ValuEngine lowered shares of Western Midstream Partners from a “sell” rating to a “strong sell” rating in a report on Thursday, August 1st. Credit Suisse Group cut their target price on shares of Western Midstream Partners from $31.00 to $28.00 and set a “neutral” rating for the company in a report on Tuesday, August 6th. Bank of America cut their target price on shares of Western Midstream Partners from $35.00 to $29.00 and set a “neutral” rating for the company in a report on Thursday, August 15th. Mitsubishi UFJ Financial Group reaffirmed a “neutral” rating and set a $37.00 target price (down from $42.00) on shares of Western Midstream Partners in a report on Thursday, August 1st. Finally, UBS Group lowered shares of Western Midstream Partners from a “buy” rating to a “neutral” rating and cut their price target for the stock from $40.00 to $27.00 in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the stock. Western Midstream Partners currently has a consensus rating of “Hold” and a consensus target price of $36.29.

NYSE WES traded up $1.00 on Friday, hitting $25.62. The company had a trading volume of 2,062,017 shares, compared to its average volume of 1,084,887. The company has a market capitalization of $11.25 billion, a PE ratio of 10.21, a PEG ratio of 2.45 and a beta of 1.42. The company’s fifty day moving average price is $24.65 and its 200-day moving average price is $29.97. The company has a debt-to-equity ratio of 2.15, a current ratio of 0.67 and a quick ratio of 0.67. Western Midstream Partners LP has a 12-month low of $21.92 and a 12-month high of $35.75.

Western Midstream Partners (NYSE:WES) last issued its quarterly earnings results on Tuesday, July 30th. The pipeline company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.27). The company had revenue of $685.10 million during the quarter, compared to analysts’ expectations of $709.39 million. Western Midstream Partners had a return on equity of 14.63% and a net margin of 18.98%. Western Midstream Partners’s revenue was up 32.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.32) EPS. On average, sell-side analysts anticipate that Western Midstream Partners LP will post 1.69 EPS for the current year.

Western Midstream Partners Profile

Western Midstream Partners, LP, together with its subsidiaries, engages in gathering, processing, compressing, treating, stabilizing, and transporting natural gas, condensate, natural gas liquids, and crude oil primarily in the United States. It is also involved in the gathering and disposing of produced water; and buying and selling of natural gas.

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Institutional Ownership by Quarter for Western Midstream Partners (NYSE:WES)

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