Lindbrook Capital LLC Sells 7,141 Shares of Western Midstream Partners, LP (NYSE:WES)

Lindbrook Capital LLC lessened its position in Western Midstream Partners, LP (NYSE:WES) by 18.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 32,015 shares of the pipeline company’s stock after selling 7,141 shares during the period. Lindbrook Capital LLC’s holdings in Western Midstream Partners were worth $1,225,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of WES. Cedar Mountain Advisors LLC increased its stake in Western Midstream Partners by 16.1% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 2,158 shares of the pipeline company’s stock worth $83,000 after purchasing an additional 299 shares in the last quarter. Bleakley Financial Group LLC boosted its holdings in shares of Western Midstream Partners by 5.8% in the third quarter. Bleakley Financial Group LLC now owns 5,711 shares of the pipeline company’s stock valued at $218,000 after buying an additional 311 shares during the period. Albert D Mason Inc. increased its position in shares of Western Midstream Partners by 0.7% during the second quarter. Albert D Mason Inc. now owns 48,760 shares of the pipeline company’s stock worth $1,937,000 after acquiring an additional 333 shares in the last quarter. Concurrent Investment Advisors LLC raised its holdings in shares of Western Midstream Partners by 6.2% during the third quarter. Concurrent Investment Advisors LLC now owns 6,053 shares of the pipeline company’s stock worth $232,000 after acquiring an additional 352 shares during the period. Finally, Truist Financial Corp lifted its position in Western Midstream Partners by 1.9% in the 2nd quarter. Truist Financial Corp now owns 22,508 shares of the pipeline company’s stock valued at $894,000 after acquiring an additional 421 shares in the last quarter. Institutional investors own 42.94% of the company’s stock.

Western Midstream Partners Price Performance

NYSE:WES opened at $36.24 on Friday. The stock has a market capitalization of $13.79 billion, a PE ratio of 9.24, a P/E/G ratio of 0.73 and a beta of 2.88. Western Midstream Partners, LP has a 1-year low of $26.81 and a 1-year high of $42.80. The firm has a fifty day simple moving average of $38.48 and a 200 day simple moving average of $38.50. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.08.

Western Midstream Partners (NYSE:WES) last announced its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.08). The firm had revenue of $883.36 million during the quarter, compared to the consensus estimate of $924.83 million. Western Midstream Partners had a net margin of 42.99% and a return on equity of 46.38%. The business’s revenue was up 13.8% on a year-over-year basis. During the same period last year, the business earned $0.70 EPS. On average, research analysts expect that Western Midstream Partners, LP will post 4.14 EPS for the current fiscal year.

Western Midstream Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Friday, November 1st will be given a dividend of $0.875 per share. This represents a $3.50 dividend on an annualized basis and a yield of 9.66%. The ex-dividend date of this dividend is Friday, November 1st. Western Midstream Partners’s dividend payout ratio (DPR) is presently 89.29%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on WES. Bank of America started coverage on Western Midstream Partners in a report on Thursday, October 17th. They set an “underperform” rating and a $37.00 target price for the company. Morgan Stanley lowered Western Midstream Partners from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $42.00 to $40.00 in a research report on Friday, October 25th. Royal Bank of Canada upped their price target on Western Midstream Partners from $38.00 to $41.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 16th. Stifel Nicolaus raised their price target on shares of Western Midstream Partners from $39.00 to $40.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. Finally, UBS Group boosted their price objective on shares of Western Midstream Partners from $38.00 to $39.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 18th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $38.13.

Insider Buying and Selling at Western Midstream Partners

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was 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 $5,923,116,413.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.04% of the company’s stock.

Western Midstream Partners Company Profile

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.