Western Midstream Partners Target of Unusually High Options Trading (NYSE:WES)

Western Midstream Partners, LP (NYSE:WES) was the target of unusually large options trading activity on Monday. Investors purchased 16,925 call options on the company. This represents an increase of approximately 1,566% compared to the typical volume of 1,016 call options.

Western Midstream Partners Stock Up 0.3 %

WES stock traded up $0.12 during mid-day trading on Monday, reaching $35.99. The company had a trading volume of 1,092,668 shares, compared to its average volume of 1,236,356. The firm has a fifty day simple moving average of $34.50 and a 200 day simple moving average of $30.44. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.76 and a current ratio of 0.76. The company has a market capitalization of $13.69 billion, a price-to-earnings ratio of 13.85 and a beta of 2.83. Western Midstream Partners has a fifty-two week low of $24.89 and a fifty-two week high of $36.79.

Western Midstream Partners (NYSE:WES) last released its earnings results on Wednesday, February 21st. The pipeline company reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.04). Western Midstream Partners had a return on equity of 33.58% and a net margin of 32.72%. The firm had revenue of $858.21 million for the quarter, compared to analysts’ expectations of $850.23 million. During the same quarter in the previous year, the company posted $0.85 earnings per share. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. Analysts forecast that Western Midstream Partners will post 3.47 earnings per share for the current fiscal year.

Western Midstream Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be paid a dividend of $0.875 per share. This is a positive change from Western Midstream Partners’s previous quarterly dividend of $0.58. This represents a $3.50 annualized dividend and a yield of 9.72%. The ex-dividend date of this dividend is Tuesday, April 30th. Western Midstream Partners’s dividend payout ratio (DPR) is currently 134.62%.

Insider Transactions at Western Midstream Partners

In other Western Midstream Partners news, Director Kenneth F. Owen acquired 7,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were purchased at an average cost of $33.96 per share, for a total transaction of $237,720.00. Following the completion of the acquisition, the director now owns 32,730 shares of the company’s stock, valued at approximately $1,111,510.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Lisa A. Stewart purchased 2,500 shares of Western Midstream Partners stock in a transaction dated Wednesday, March 6th. The shares were acquired at an average cost of $34.87 per share, with a total value of $87,175.00. Following the purchase, the director now owns 30,730 shares of the company’s stock, valued at $1,071,555.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Kenneth F. Owen acquired 7,000 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was bought at an average price of $33.96 per share, for a total transaction of $237,720.00. Following the completion of the acquisition, the director now owns 32,730 shares in the company, valued at approximately $1,111,510.80. The disclosure for this purchase can be found here. Insiders own 0.04% of the company’s stock.

Hedge Funds Weigh In On Western Midstream Partners

Several large investors have recently bought and sold shares of WES. Albert D Mason Inc. lifted its stake in Western Midstream Partners by 1.0% in the first quarter. Albert D Mason Inc. now owns 48,427 shares of the pipeline company’s stock valued at $1,722,000 after buying an additional 490 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in Western Midstream Partners by 1.9% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 386,517 shares of the pipeline company’s stock valued at $13,741,000 after purchasing an additional 7,188 shares during the period. GraniteShares Advisors LLC boosted its holdings in Western Midstream Partners by 14.6% in the 1st quarter. GraniteShares Advisors LLC now owns 59,574 shares of the pipeline company’s stock valued at $2,118,000 after purchasing an additional 7,588 shares in the last quarter. Maryland State Retirement & Pension System increased its position in Western Midstream Partners by 1.6% during the 1st quarter. Maryland State Retirement & Pension System now owns 162,128 shares of the pipeline company’s stock worth $5,555,000 after purchasing an additional 2,556 shares during the period. Finally, Norden Group LLC purchased a new position in shares of Western Midstream Partners during the 1st quarter worth approximately $338,000. Institutional investors and hedge funds own 42.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on WES shares. Raymond James reissued a “market perform” rating on shares of Western Midstream Partners in a research report on Tuesday, March 19th. Stifel Nicolaus lifted their price objective on Western Midstream Partners from $35.00 to $36.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Wolfe Research upgraded Western Midstream Partners from an “underperform” rating to a “peer perform” rating in a report on Thursday, April 18th. Finally, Citigroup cut Western Midstream Partners from a “buy” rating to a “neutral” rating and raised their target price for the company from $30.00 to $34.00 in a report on Thursday, February 29th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $30.64.

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.