ALPS Advisors, Inc. has recently announced that it has increased stake in Western Midstream Partners LP (NYSE:WES) by 7.43%. After grabbing 25.44 million shares, the institutional investor is now in possession of 1.76 million shares of the Energy Company. The new investment brought the stake of investor firm to 6.61% having worth around $661.75 million. Moreover, Harvest Fund Advisors LLC increased its share by 0.28 million to have a control over 17.68 million shares. And Invesco Advisers, Inc. raised its holdings to 1.31 million shares by acquiring 15.75 million shares or 4.09% of the stake.
Western Midstream Partners LP (WES) concluded trading on 03/16/23 at a closing price of $25.20, with 1.38 million shares of worth about $34.86 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -12.01% during that period and on Thursday the price saw a gain of about 2.77%. Currently the company’s common shares owned by public are about 384.77M shares, out of which, 384.68M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 14 analysts are covering the WES stock and their offered price forecasts bring an average price target of $32.77. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $37.00 and could fall to a lowest price of $27.00. The stock’s current price level is 24.03% above of average price target set by the analysts, while a rise to estimated low would result in gain of 6.67% for the stock. However, touching the estimated high of $37.00 would mean a gain of 31.89% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 98 times over the past 12 months. They bought 490,884 shares in 50 of the transactions. In 48 selling transactions, insiders dumped 20,195,555 shares.
Alerian MLP ETF, Invesco SteelPath MLP Income Fund, and Goldman Sachs MLP Energy Infrastr are the top 3 mutual funds which are holding stakes in Western Midstream Partners LP Alerian MLP ETF is currently holding 25.19 million shares of worth totaling $655.08 million. The company recently came selling 21960.0 shares which brought its stake up to 6.54% of the company’s outstanding shares. Invesco SteelPath MLP Income Fund bought 1.28 million shares, after which its hold over company’s outstanding shares expand to 1.87%, leaving 7.21 million shares with the mutual fund that have a worth of about $187.4 million. Goldman Sachs MLP Energy Infrastr, after buying 4.34 million shares, have now control over 1.13% of the stake in the company. It holds 0.57 million shares of worth $112.82 million.
Western Midstream Partners LP (NYSE: WES) started trading at $24.12, below -$0.4 from concluding price of the previous day. However, the stock later moved at a day high price of 25.36, or with a gain of 2.77%. Stock saw a price change of -4.44% in past 5 days and over the past one month there was a price change of -11.58%. Year-to-date (YTD), WES shares are showing a performance of -6.15% which increased to 9.00% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $21.95 but also hit the highest price of $29.50 during that period. The average intraday trading volume for Western Midstream Partners LP shares is 1.00 million. The stock is currently trading -5.50% below its 20-day simple moving average (SMA20), while that difference is down -7.32% for SMA50 and it goes to -6.04% lower than SMA200.
ALPS Advisors, Inc. acquired 25.44 million shares of Western Midstream Partners LP having value of about $661.75 million. Data submitted at the U.S SEC by ALPS Advisors, Inc. revealed that the firm now holds 1.76 million shares in the company valued at close to $44355654.0, or have control over 7.43% stake in the company. Western Midstream Partners LP (NYSE: WES) currently have 384.77M outstanding shares and institutions hold larger chunk of about 92.30% of that. Holding of mutual funds in the company is about 21.80% while other institutional holders and individual stake holders have control over 49.82% and 20.35% of the stake respectively.
The stock has a current market capitalization of $9.81B and its 3Y-monthly beta is at 2.70. PE ratio of stock for trailing 12 months is 8.39, while it has posted earnings per share of $3.00 in the same period. Its PEG reads 0.53 and has Quick Ratio of 1.00 while making debt-to-equity ratio of 2.28. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for WES, volatility over the week remained 5.04% while standing at 3.61% over the month.
Analysts are in expectations that Western Midstream Partners LP (WES) stock would likely to be making an EPS of $0.73 in the current quarter, while forecast for next quarter EPS is $0.73 and it is $3.1 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.64 which is $0.84 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.58 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 38.00% while it is estimated to increase by 14.76% in next year. EPS is likely to grow at an annualized rate of 15.80% for next 5-years, compared to annual growth of 11.80% made by the stock over the past 5-years.
Analysts at 14 brokerage firms have issued recommendations for the Western Midstream Partners LP (WES)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.90. Out of those 14 Wall Street analysts, 9 recommended a “Buy” rating, while 2 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Citigroup on December 09, 2022 offering a Buy rating for the stock and assigned a target price of $33 to it. On September 28, 2021, BofA Securities Resumed their recommendations, while on July 20, 2021, Morgan Stanley Upgrade their ratings for the stock with a price target of $24. Stock get a Buy rating from BofA Securities on July 20, 2021.
