Hennessy Advisors Inc., an investment management firm, has recently increased its position in Western Midstream Partners, LP (NYSE:WES) by 18.6% in the second quarter of this year. According to a disclosure with the Securities and Exchange Commission, Hennessy Advisors now owns 120,700 shares of Western Midstream Partners’ stock, acquiring an additional 18,900 shares during the quarter. The total value of Hennessy Advisors’ holdings in Western Midstream Partners is estimated to be worth $3,201,000 at the end of the most recent quarter.
This increase in investment by Hennessy Advisors signifies their confidence in Western Midstream Partners as a potential profitable venture. It highlights the positive outlook that Hennessy Advisors has on the pipeline company’s future prospects and financial performance.
On August 8th, Western Midstream Partners released its earnings results for the quarter. Despite reporting $0.64 earnings per share (EPS), slightly below the consensus estimate of $0.65 EPS, Western Midstream Partners displayed strong financial indicators. The company had a return on equity of 34.41% and a net margin of 34.08%. However, its quarterly revenue was $738.90 million, which fell short compared to analysts’ expectations of $795.73 million. It is worth noting that during the same period last year, Western Midstream Partners achieved higher earnings per share at $0.74.
Analysts predict that for the current year, Western Midstream Partners will post around 2.53 earnings per share—an indication that they anticipate steady growth moving forward.
Western Midstream Partners is primarily engaged in gathering, processing, compressing, treating, and transporting natural gas and crude oil within North America. As a midstream energy company with strategic assets and pipelines across multiple regions, it plays a vital role in supporting and facilitating energy delivery throughout various markets.
Investors like Hennessy Advisors recognize the value of a company like Western Midstream Partners, which has established its presence in the energy sector and demonstrates promising financials. As a reliable investment option, it can offer stability combined with potential returns.
With Hennessy Advisors reinforcing its position in Western Midstream Partners, it is clear that they believe in the long-term growth prospects of the pipeline company. This move reflects their confidence in its ability to generate considerable earnings and deliver value to its shareholders.
While investing always carries some degree of risk, Hennessy Advisors’ increased stake in Western Midstream Partners serves as an encouraging sign for other investors considering options within the energy industry. By carefully analyzing companies such as Western Midstream Partners and their financial performance, investors can make informed decisions about where to allocate their resources.
As we approach the end of 2023, it will be interesting to see how Western Midstream Partners further positions itself as a prominent player in the energy market and whether other investment firms follow in Hennessy Advisors’ footsteps.
[bs_slider_forecast ticker=”FTNT”]
Significant Shifts in Holdings of Western Midstream Partners Spark Industry Attention
In recent times, a number of notable investors have made significant modifications to their holdings in Western Midstream Partners (NYSE: WES), sending ripples throughout the financial sphere. Alps Advisors Inc., for instance, has boosted its position in the pipeline company by 7.4% during the fourth quarter, thus acquiring an additional 1,760,145 shares and valuing them at $683,122,000. This move has undoubtedly raised several eyebrows among industry experts due to its perplexity and narrative bustiness.
Alongside Alps Advisors Inc., Mirae Asset Global Investments Co. Ltd. also lifted its position in Western Midstream Partners during the first quarter. With a 41.7% increase, they now own a staggering 4,445,899 shares valued at $117,238,000 after purchasing an additional 1,309,095 shares in the same period. Barclays PLC followed suit by raising its position by an impressive 65% during the first quarter as well. Owning now around 2,799,876 shares with a valuation of $73,832,000 after acquiring an added 1,102,543 shares clearly showcases Barclays PLC’s fervor for investing.
Clearbridge Investments LLC demonstrated their dedication by lifting their position in Western Midstream Partners by 14.2% during the first quarter too. After purchasing another 623,000 shares following this adjustment period alone and bringing their total ownership to a substantial amount of 5,0123-,565 shares worth around $126-,417,-000—this development certainly raises pertinent questions regarding Clearbridge Investments LLC’s expansion strategy.
To round off this impressive lineup of investors making changes to their holdings in Western Midstream Partners is Goldman Sachs Group Inc., who also decided to lift its position during the second quarter by a solid margin of 6.4%. This translated into them acquiring an additional hefty sum of around half-a-million shares, resulting in their current ownership tally amounting to an estimated 8,345,798 shares with a value of approximately $202,887,000. With these adjustments now solidified within the investment space, it certainly adds a peculiar air of mystery and perplexity surrounding Western Midstream Partners.
To put things into further perspective, institutional investors currently own around 42.02% of Western Midstream Partners’ stock. This staggering figure indicates the considerable degree of interest and involvement from these entities in shaping the future trajectory of the company.
Turning our attention now to some numerical specifics surrounding Western Midstream Partners, its shares on the NYSE opened at $26.96 on September 26, 2023. The company boasts a quick ratio and current ratio of 1.28 each while maintaining a debt-to-equity ratio of 2.26. Moreover, its 52-week low rests at $23.24 and has reached highs of $29.18 within that same period.
Analyzing Western Midstream Partners’ performance over time reveals that it boasts a fifty-day moving average of $27.16 and has maintained a stable two-hundred-day moving average of $26.59—an indication that stability is paramount to the operations and outlook for this powerhouse organization.
Furthermore, Western Midstream Partners possesses a market capitalization worth an impressive $10.37 billion alongside its price-to-earnings ratio standing at an astonishingly optimistic 10.10—enticing characteristics for potential investors looking to capitalize on viable opportunities within the energy sector.
Adding yet another point into consideration is the recent disclosure by Western Midstream Partners regarding their quarterly dividend payout—scheduled on August 14th this year—which granted shareholders who were listed on record as of July 31st a dividend amounting to $0.5625 per share owned during this period—contributing to an annualized dividend rate exceeding $2 per share held and yielding 8.35%. All the while, a payout ratio currently lives at an interesting 84.27%, making Western Midstream Partners’ dividend policy and overall outlook worth discussing in greater detail.
In light of these strategic shifts, numerous brokerages have issued reports on Western Midstream Partners. Citigroup, for example, lowered its target price for the stock from $32.00 to $30.00 but maintained a ‘buy’ rating in their research report published on August 11th. UBS Group took up coverage on Western Midstream Partners on June 26th and assigned a neutral rating with a target price of $27.00.
One brokerage that highlighted optimism surrounding Western Midstream Partners was Morgan Stanley, who boosted their price objective from $34.00 to $35.00 while attaching an “overweight” rating to the stock in their report released on September 12th. Conversely, Raymond James reduced its price objective from $34 to $32 and predicted an “outperform” rating for the company back on July 21st.
Finally, StockNews.com provided coverage of Western Midstream Partners back on August 17th and issued a “buy” rating—representing strong investor sentiment towards the company as well as broad recognition of its potential within
