Western Midstream Partners LP (NYSE:WES) Shares Bought by Neuberger Berman Group LLC

Neuberger Berman Group LLC lifted its position in Western Midstream Partners LP (NYSE:WES) by 504.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,849,579 shares of the pipeline company’s stock after purchasing an additional 11,558,966 shares during the period. Western Midstream Partners comprises 0.5% of Neuberger Berman Group LLC’s portfolio, making the stock its 27th largest holding. Neuberger Berman Group LLC owned approximately 6.33% of Western Midstream Partners worth $434,323,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Duff & Phelps Investment Management Co. lifted its holdings in shares of Western Midstream Partners by 60.3% in the 1st quarter. Duff & Phelps Investment Management Co. now owns 1,256,714 shares of the pipeline company’s stock worth $39,411,000 after acquiring an additional 472,914 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new stake in Western Midstream Partners during the 1st quarter worth approximately $4,285,000. Fort Washington Investment Advisors Inc. OH grew its position in Western Midstream Partners by 181.2% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 85,613 shares of the pipeline company’s stock worth $3,615,000 after purchasing an additional 55,163 shares during the last quarter. Deutsche Bank AG grew its position in Western Midstream Partners by 79.7% during the 4th quarter. Deutsche Bank AG now owns 429,616 shares of the pipeline company’s stock worth $18,140,000 after purchasing an additional 190,589 shares during the last quarter. Finally, IndexIQ Advisors LLC purchased a new stake in Western Midstream Partners during the 4th quarter worth approximately $8,415,000. 41.13% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE WES opened at $30.77 on Friday. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.13 and a current ratio of 0.13. The company’s 50 day simple moving average is $29.68. Western Midstream Partners LP has a 12 month low of $25.89 and a 12 month high of $37.69. The firm has a market cap of $13.83 billion, a PE ratio of 12.26, a price-to-earnings-growth ratio of 2.22 and a beta of 1.48.

Western Midstream Partners (NYSE:WES) last posted its earnings results on Tuesday, April 30th. The pipeline company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.17). Western Midstream Partners had a net margin of 16.47% and a return on equity of 11.61%. The firm had revenue of $671.88 million during the quarter, compared to analyst estimates of $622.45 million. During the same quarter in the prior year, the firm earned $0.46 earnings per share. The business’s revenue for the quarter was up 34.1% on a year-over-year basis. Sell-side analysts forecast that Western Midstream Partners LP will post 2.3 earnings per share for the current fiscal year.

WES has been the topic of several research analyst reports. ValuEngine downgraded shares of Western Midstream Partners from a “sell” rating to a “strong sell” rating in a research report on Tuesday, March 5th. Citigroup reissued a “buy” rating and set a $35.00 target price on shares of Western Midstream Partners in a research report on Tuesday, April 9th. Mitsubishi UFJ Financial Group dropped their target price on shares of Western Midstream Partners from $55.00 to $42.00 and set an “overweight” rating on the stock in a research report on Monday, April 15th. Mizuho started coverage on shares of Western Midstream Partners in a research report on Friday, June 14th. They set a “buy” rating and a $34.00 target price on the stock. Finally, Barclays started coverage on shares of Western Midstream Partners in a research note on Friday, March 22nd. They set an “equal weight” rating and a $34.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $45.00.

Western Midstream Partners Company 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: Return on Investment (ROI)

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

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