Western Midstream Partners, LP (NYSE:WES) Shares Purchased by XTX Topco Ltd

XTX Topco Ltd raised its position in Western Midstream Partners, LP (NYSE:WES) by 68.2% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 28,681 shares of the pipeline company’s stock after acquiring an additional 11,630 shares during the quarter. XTX Topco Ltd’s holdings in Western Midstream Partners were worth $1,139,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Eagle Bay Advisors LLC acquired a new position in shares of Western Midstream Partners during the first quarter worth about $29,000. American National Bank raised its stake in shares of Western Midstream Partners by 34.5% during the 1st quarter. American National Bank now owns 1,190 shares of the pipeline company’s stock worth $42,000 after buying an additional 305 shares in the last quarter. Retirement Group LLC lifted its holdings in shares of Western Midstream Partners by 40.2% in the 1st quarter. Retirement Group LLC now owns 1,591 shares of the pipeline company’s stock valued at $57,000 after buying an additional 456 shares during the period. Triad Wealth Partners LLC purchased a new stake in shares of Western Midstream Partners in the second quarter valued at approximately $78,000. Finally, Mather Group LLC. purchased a new stake in shares of Western Midstream Partners in the first quarter valued at approximately $82,000. Hedge funds and other institutional investors own 42.94% of the company’s stock.

Western Midstream Partners Price Performance

Shares of NYSE:WES opened at $38.72 on Friday. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.68 and a current ratio of 1.68. The business’s fifty day moving average price is $39.21 and its two-hundred day moving average price is $37.65. The stock has a market cap of $14.73 billion, a PE ratio of 10.91, a price-to-earnings-growth ratio of 0.75 and a beta of 2.87. Western Midstream Partners, LP has a one year low of $26.14 and a one year high of $42.80.

Western Midstream Partners (NYSE:WES) last posted its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.09. Western Midstream Partners had a return on equity of 47.19% and a net margin of 44.01%. The business had revenue of $905.63 million for the quarter, compared to analyst estimates of $904.94 million. During the same quarter last year, the company earned $0.64 earnings per share. The business’s revenue for the quarter was up 22.7% compared to the same quarter last year. On average, analysts forecast that Western Midstream Partners, LP will post 4.16 EPS for the current fiscal year.

Western Midstream Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st were given a $0.875 dividend. This represents a $3.50 dividend on an annualized basis and a dividend yield of 9.04%. The ex-dividend date was Thursday, August 1st. Western Midstream Partners’s dividend payout ratio is presently 98.59%.

Insider Activity at Western Midstream Partners

In other Western Midstream Partners news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of Western Midstream Partners stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total value of $697,125,000.00. Following the completion of the sale, the insider now directly owns 165,681,578 shares of the company’s stock, valued at approximately $5,923,116,413.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.04% of the company’s stock.

Wall Street Analysts Forecast Growth

WES has been the subject of a number of recent analyst reports. Morgan Stanley downgraded Western Midstream Partners from an “overweight” rating to an “equal weight” rating and set a $42.00 target price for the company. in a report on Monday, September 16th. Stifel Nicolaus boosted their price objective on shares of Western Midstream Partners from $39.00 to $40.00 and gave the stock a “hold” rating in a report on Friday, August 9th. StockNews.com cut shares of Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Royal Bank of Canada boosted their price target on Western Midstream Partners from $36.00 to $38.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 27th. Finally, UBS Group raised their price objective on Western Midstream Partners from $38.00 to $39.00 and gave the company a “neutral” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Western Midstream Partners has an average rating of “Hold” and a consensus price target of $36.75.

About Western Midstream Partners

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.