HAP Trading LLC Makes New $1.09 Million Investment in Western Midstream Partners, LP (NYSE:WES)

HAP Trading LLC purchased a new position in Western Midstream Partners, LP (NYSE:WES) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 50,885 shares of the pipeline company’s stock, valued at approximately $1,090,000.

A number of other hedge funds also recently made changes to their positions in WES. Cowen Prime Advisors LLC purchased a new stake in Western Midstream Partners in the 2nd quarter worth $82,000. Parkside Financial Bank & Trust purchased a new stake in shares of Western Midstream Partners during the 2nd quarter valued at about $94,000. Avalon Investment & Advisory purchased a new stake in shares of Western Midstream Partners during the 2nd quarter valued at about $211,000. Mid Atlantic Financial Management Inc. ADV purchased a new stake in shares of Western Midstream Partners during the 2nd quarter valued at about $214,000. Finally, Avidian Wealth Solutions LLC purchased a new stake in shares of Western Midstream Partners during the 2nd quarter valued at about $219,000. Institutional investors and hedge funds own 41.29% of the company’s stock.

Shares of WES stock opened at $20.29 on Friday. The company has a debt-to-equity ratio of 2.24, a current ratio of 0.79 and a quick ratio of 0.79. The company has a market capitalization of $8.38 billion, a P/E ratio of 9.39 and a beta of 3.93. The company’s 50-day simple moving average is $19.62 and its two-hundred day simple moving average is $20.10. Western Midstream Partners, LP has a one year low of $7.09 and a one year high of $23.69.

Western Midstream Partners (NYSE:WES) last released its quarterly earnings data on Monday, August 9th. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.58 by ($0.03). Western Midstream Partners had a net margin of 33.76% and a return on equity of 31.96%. The business had revenue of $719.10 million for the quarter, compared to the consensus estimate of $657.98 million. During the same quarter in the prior year, the business posted $0.60 earnings per share. Western Midstream Partners’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, research analysts expect that Western Midstream Partners, LP will post 2.27 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 13th. Stockholders of record on Friday, July 30th were paid a dividend of $0.319 per share. The ex-dividend date of this dividend was Thursday, July 29th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 6.29%. Western Midstream Partners’s dividend payout ratio is presently 50.20%.

Several brokerages have recently issued reports on WES. Zacks Investment Research cut shares of Western Midstream Partners from a “buy” rating to a “hold” rating in a research report on Friday, September 17th. Morgan Stanley upgraded shares of Western Midstream Partners from an “equal weight” rating to an “overweight” rating and set a $24.00 target price on the stock in a research report on Tuesday, July 20th. Bank of America raised shares of Western Midstream Partners from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $22.00 to $25.00 in a research report on Tuesday, July 20th. Finally, Wells Fargo & Company increased their price objective on shares of Western Midstream Partners from $25.00 to $26.00 and gave the stock an “overweight” rating in a research report on Thursday, June 24th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $22.80.

Western Midstream Partners Company Profile

Western Midstream Partners LP owns, operates, acquires and develops midstream energy assets. It engages in the business of gathering, processing, compressing, treating, and transporting natural gas, condensate, natural gas liquids, and crude oil for Anadarko, as well as third-party producers and customers.

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

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