UBS Group AG Sells 712,871 Shares of Western Midstream Partners, LP (NYSE:WES)

UBS Group AG lessened its position in shares of Western Midstream Partners, LP (NYSE:WES) by 14.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,164,706 shares of the pipeline company’s stock after selling 712,871 shares during the period. UBS Group AG’s holdings in Western Midstream Partners were worth $77,422,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the company. ING Groep NV bought a new stake in shares of Western Midstream Partners in the first quarter valued at approximately $3,922,000. Aveo Capital Partners LLC bought a new stake in shares of Western Midstream Partners in the first quarter valued at approximately $1,001,000. Jennison Associates LLC boosted its stake in shares of Western Midstream Partners by 85.5% in the first quarter. Jennison Associates LLC now owns 1,330,737 shares of the pipeline company’s stock valued at $24,738,000 after buying an additional 613,348 shares during the period. Duff & Phelps Investment Management Co. boosted its stake in shares of Western Midstream Partners by 2,731.8% in the first quarter. Duff & Phelps Investment Management Co. now owns 552,200 shares of the pipeline company’s stock valued at $10,265,000 after buying an additional 532,700 shares during the period. Finally, Catalyst Capital Advisors LLC boosted its stake in shares of Western Midstream Partners by 240.7% in the first quarter. Catalyst Capital Advisors LLC now owns 16,278 shares of the pipeline company’s stock valued at $303,000 after buying an additional 11,500 shares during the period. Institutional investors own 40.30% of the company’s stock.

Several brokerages have commented on WES. Barclays boosted their price objective on shares of Western Midstream Partners from $19.00 to $22.00 in a research report on Friday, March 5th. Morgan Stanley upgraded shares of Western Midstream Partners from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $20.00 to $22.00 in a research report on Wednesday, May 26th. US Capital Advisors upgraded shares of Western Midstream Partners from a “hold” rating to an “overweight” rating in a research report on Wednesday, March 10th. Wells Fargo & Company upped their price target on shares of Western Midstream Partners from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Thursday, May 13th. Finally, Zacks Investment Research downgraded shares of Western Midstream Partners from a “hold” rating to a “sell” rating in a report on Wednesday, May 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $19.23.

Shares of WES opened at $22.68 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 2.52. The company has a market capitalization of $9.37 billion, a PE ratio of 10.26 and a beta of 3.94. The firm’s fifty day moving average price is $20.32. Western Midstream Partners, LP has a 12 month low of $6.99 and a 12 month high of $22.72.

Western Midstream Partners (NYSE:WES) last issued its quarterly earnings results on Monday, May 10th. The pipeline company reported $0.44 EPS for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.10). The firm had revenue of $674.97 million for the quarter, compared to the consensus estimate of $637.44 million. Western Midstream Partners had a net margin of 35.91% and a return on equity of 33.71%. The business’s revenue was down 12.8% compared to the same quarter last year. During the same period last year, the company posted ($0.57) EPS. As a group, research analysts forecast that Western Midstream Partners, LP will post 2.24 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, May 14th. Shareholders of record on Friday, April 30th were given a dividend of $0.315 per share. The ex-dividend date was Thursday, April 29th. This represents a $1.26 dividend on an annualized basis and a yield of 5.56%. Western Midstream Partners’s dividend payout ratio (DPR) is currently 49.41%.

In other Western Midstream Partners news, major shareholder Petroleum Corp /De/ Occidental sold 11,500,000 shares of the company’s stock in a transaction on Thursday, March 25th. The shares were sold at an average price of $17.25, for a total transaction of $198,375,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.04% of the company’s stock.

About Western Midstream Partners

Western Midstream Partners, LP, together with its subsidiaries, acquire, own, develop, and operate midstream assets primarily in the United States. It is involved in gathering, compressing, treating, processing, and transporting of natural gas; gathering, stabilizing, and transporting of condensate, natural gas liquids, and crude oil; and gathering and disposing of produced water.

Further Reading: Price-Sales Ratio

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.