Mitchell Mcleod Pugh & Williams Inc. Trims Stake in Western Midstream Partners LP (NYSE:WES)

Mitchell Mcleod Pugh & Williams Inc. reduced its position in Western Midstream Partners LP (NYSE:WES) by 27.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,077 shares of the pipeline company’s stock after selling 3,844 shares during the quarter. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Western Midstream Partners were worth $198,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of WES. Invesco Ltd. raised its position in Western Midstream Partners by 7,463.7% in the 2nd quarter. Invesco Ltd. now owns 9,408,687 shares of the pipeline company’s stock worth $289,505,000 after purchasing an additional 9,284,294 shares during the period. Alps Advisors Inc. grew its stake in Western Midstream Partners by 37.9% in the 3rd quarter. Alps Advisors Inc. now owns 24,293,298 shares of the pipeline company’s stock worth $604,660,000 after acquiring an additional 6,677,468 shares in the last quarter. Morgan Stanley grew its stake in Western Midstream Partners by 50.5% in the 2nd quarter. Morgan Stanley now owns 2,445,741 shares of the pipeline company’s stock worth $75,255,000 after acquiring an additional 820,262 shares in the last quarter. CIBC Private Wealth Group LLC grew its stake in Western Midstream Partners by 34.7% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,937,110 shares of the pipeline company’s stock worth $73,105,000 after acquiring an additional 756,133 shares in the last quarter. Finally, Tortoise Capital Advisors L.L.C. grew its stake in Western Midstream Partners by 2.1% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 27,562,374 shares of the pipeline company’s stock worth $848,094,000 after acquiring an additional 558,860 shares in the last quarter. 41.44% of the stock is currently owned by institutional investors.

Shares of NYSE WES traded down $0.22 during midday trading on Wednesday, reaching $21.48. 54,483 shares of the company’s stock traded hands, compared to its average volume of 1,549,387. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 2.32. The stock’s 50 day simple moving average is $19.17 and its 200-day simple moving average is $23.87. Western Midstream Partners LP has a one year low of $17.46 and a one year high of $35.75. The company has a market cap of $9.77 billion, a price-to-earnings ratio of 8.55, a P/E/G ratio of 1.82 and a beta of 1.38.

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 Zacks’ consensus estimate of $0.47 by ($0.20). Western Midstream Partners had a net margin of 18.35% and a return on equity of 15.32%. The business had revenue of $666.03 million for the quarter, compared to the consensus estimate of $688.91 million. During the same quarter in the prior year, the business posted $0.39 earnings per share. Western Midstream Partners’s revenue for the quarter was up 13.3% on a year-over-year basis. Equities analysts predict that Western Midstream Partners LP will post 1.35 EPS for the current fiscal year.

In other Western Midstream Partners news, Director James R. Crane acquired 71,041 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were purchased at an average cost of $18.19 per share, for a total transaction of $1,292,235.79. Following the completion of the purchase, the director now owns 169,068 shares in the company, valued at $3,075,346.92. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

A number of equities analysts have commented on the stock. Citigroup dropped their target price on shares of Western Midstream Partners from $26.00 to $23.00 and set a “buy” rating on the stock in a research note on Tuesday, December 3rd. Barclays set a $26.00 target price on shares of Western Midstream Partners and gave the stock a “hold” rating in a research note on Tuesday, October 15th. ValuEngine upgraded shares of Western Midstream Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, December 11th. Finally, Zacks Investment Research upgraded shares of Western Midstream Partners from a “strong sell” rating to a “hold” rating in a research note on Saturday, November 9th. Twelve equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $30.75.

Western Midstream Partners 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.

Further Reading: How Investors Can Profit from Options Trading

Want to see what other hedge funds are holding WES? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Western Midstream Partners LP (NYSE:WES).

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

Receive News & Ratings for Western Midstream Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Midstream Partners and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit