Duff & Phelps Investment Management Co. Cuts Position in Western Midstream Partners LP (NYSE:WES)

Duff & Phelps Investment Management Co. lowered its position in shares of Western Midstream Partners LP (NYSE:WES) by 4.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,205,614 shares of the pipeline company’s stock after selling 51,100 shares during the period. Duff & Phelps Investment Management Co.’s holdings in Western Midstream Partners were worth $37,097,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Stephens Inc. AR raised its stake in shares of Western Midstream Partners by 23.3% during the second quarter. Stephens Inc. AR now owns 23,499 shares of the pipeline company’s stock valued at $723,000 after purchasing an additional 4,434 shares in the last quarter. ELCO Management Co. LLC raised its stake in shares of Western Midstream Partners by 12.4% during the second quarter. ELCO Management Co. LLC now owns 102,599 shares of the pipeline company’s stock valued at $3,157,000 after purchasing an additional 11,300 shares in the last quarter. CIBC Private Wealth Group LLC raised its stake in shares of Western Midstream Partners by 9.9% during the second quarter. CIBC Private Wealth Group LLC now owns 2,180,977 shares of the pipeline company’s stock valued at $67,108,000 after purchasing an additional 196,141 shares in the last quarter. BNP Paribas Arbitrage SA bought a new stake in shares of Western Midstream Partners during the second quarter valued at about $2,024,000. Finally, Barnett & Company Inc. raised its stake in shares of Western Midstream Partners by 36.9% during the second quarter. Barnett & Company Inc. now owns 27,449 shares of the pipeline company’s stock valued at $845,000 after purchasing an additional 7,400 shares in the last quarter. Institutional investors own 40.98% of the company’s stock.

WES traded up $0.01 during trading on Friday, reaching $22.83. The company had a trading volume of 8,285 shares, compared to its average volume of 1,354,924. The company has a debt-to-equity ratio of 2.15, a quick ratio of 0.67 and a current ratio of 0.67. Western Midstream Partners LP has a 12-month low of $22.39 and a 12-month high of $36.16. The firm’s 50-day simple moving average is $29.02 and its 200 day simple moving average is $33.24. The company has a market cap of $10.92 billion, a price-to-earnings ratio of 9.10, a PEG ratio of 2.07 and a beta of 1.40.

Western Midstream Partners (NYSE:WES) last released its earnings results on Tuesday, July 30th. The pipeline company reported $0.37 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by ($0.27). Western Midstream Partners had a net margin of 18.98% and a return on equity of 14.63%. The business had revenue of $685.10 million for the quarter, compared to analysts’ expectations of $709.39 million. During the same period last year, the firm earned ($0.32) EPS. The company’s revenue was up 32.2% compared to the same quarter last year. On average, sell-side analysts expect that Western Midstream Partners LP will post 1.94 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 13th. Shareholders of record on Wednesday, July 31st were paid a dividend of $0.618 per share. This represents a $2.47 annualized dividend and a yield of 10.83%. The ex-dividend date of this dividend was Tuesday, July 30th. This is a boost from Western Midstream Partners’s previous quarterly dividend of $0.61. Western Midstream Partners’s payout ratio is 98.41%.

WES has been the topic of several research reports. UBS Group cut shares of Western Midstream Partners from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $40.00 to $27.00 in a research report on Friday, August 2nd. Credit Suisse Group dropped their price target on shares of Western Midstream Partners from $31.00 to $28.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 6th. Royal Bank of Canada dropped their price target on shares of Western Midstream Partners to $28.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Zacks Investment Research cut shares of Western Midstream Partners from a “buy” rating to a “hold” rating in a research report on Saturday, August 3rd. Finally, ValuEngine cut shares of Western Midstream Partners from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $38.21.

About Western Midstream Partners

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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