Western Midstream Partners LP (NYSE:WES) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA reduced its position in Western Midstream Partners LP (NYSE:WES) by 10.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 674,630 shares of the pipeline company’s stock after selling 80,494 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.15% of Western Midstream Partners worth $16,792,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Westside Investment Management Inc. acquired a new stake in shares of Western Midstream Partners during the second quarter worth $27,000. HM Payson & Co. acquired a new stake in shares of Western Midstream Partners during the second quarter worth $34,000. B & T Capital Management DBA Alpha Capital Management acquired a new stake in shares of Western Midstream Partners during the third quarter worth $30,000. Lenox Wealth Advisors LLC acquired a new stake in shares of Western Midstream Partners during the third quarter worth $33,000. Finally, Doyle Wealth Management acquired a new stake in shares of Western Midstream Partners during the second quarter worth $47,000. 42.36% of the stock is owned by institutional investors and hedge funds.

In other Western Midstream Partners news, Director David J. Tudor sold 5,000 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $27.00, for a total value of $135,000.00. Corporate insiders own 0.01% of the company’s stock.

Several equities research analysts recently weighed in on WES shares. Scotiabank started coverage on Western Midstream Partners in a report on Tuesday, September 3rd. They set a “sector perform” rating and a $28.00 price target for the company. JPMorgan Chase & Co. downgraded Western Midstream Partners from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $40.00 to $31.00 in a report on Tuesday, August 13th. UBS Group downgraded Western Midstream Partners from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $40.00 to $27.00 in a report on Friday, August 2nd. Bank of America decreased their price target on Western Midstream Partners from $35.00 to $29.00 and set a “neutral” rating for the company in a report on Thursday, August 15th. Finally, Citigroup decreased their price target on Western Midstream Partners from $35.00 to $26.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $32.08.

NYSE:WES opened at $19.29 on Monday. The stock has a fifty day moving average price of $22.70 and a two-hundred day moving average price of $26.74. The stock has a market capitalization of $8.77 billion, a price-to-earnings ratio of 7.69, a PEG ratio of 2.38 and a beta of 1.43. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.66 and a current ratio of 0.66. Western Midstream Partners LP has a 1 year low of $18.74 and a 1 year high of $35.75.

Western Midstream Partners (NYSE:WES) last released its quarterly earnings data on Monday, November 4th. The pipeline company reported $0.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by ($0.20). The business had revenue of $666.03 million during the quarter, compared to analysts’ expectations of $688.91 million. Western Midstream Partners had a return on equity of 15.32% and a net margin of 18.35%. The company’s revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.39 EPS. On average, analysts predict that Western Midstream Partners LP will post 1.35 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Friday, November 1st were given a $0.62 dividend. This is a boost from Western Midstream Partners’s previous quarterly dividend of $0.62. The ex-dividend date was Thursday, October 31st. This represents a $2.48 annualized dividend and a yield of 12.86%. Western Midstream Partners’s dividend payout ratio is presently 98.80%.

Western Midstream Partners Company 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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