Michael Ure, President & Chief Executive Officer of Western Midstream Partners LP (WES, Financial), has recently increased his stake in the company. According to a SEC Filing dated 2024-03-01, the insider purchased 5,000 shares of the company's stock.
Western Midstream Partners LP is a midstream energy company that is engaged in the gathering, processing, compressing, treating, and transporting natural gas, condensate, natural gas liquids, and crude oil for its customers. The company operates assets in the Rocky Mountains, North-central Pennsylvania, and Texas.
Over the past year, the insider has executed a total of one transaction, resulting in the purchase of 5,000 shares. There have been no sales reported by the insider during this period. The recent acquisition by the insider reflects a continued confidence in the company's prospects and performance.
The insider transaction history for Western Midstream Partners LP shows a pattern of insider confidence with 5 insider buys and only 2 insider sells over the past year.
On the valuation front, Western Midstream Partners LP shares were trading at $33.65 on the day of the insider's purchase, bringing the company's market cap to $13.062 billion. The price-earnings ratio stands at 12.87, which is above the industry median of 10.285 but below the company's historical median price-earnings ratio.
The stock's price relative to the GuruFocus Value (GF Value) indicates that Western Midstream Partners LP is currently trading at a price-to-GF-Value ratio of 1.19, suggesting that the stock is Modestly Overvalued. The GF Value is a proprietary intrinsic value estimate from GuruFocus, which takes into account historical trading multiples, a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates from Morningstar analysts.
The recent insider buying activity may be of interest to investors as it could signal the insider's belief in the company's value and potential for growth. As always, investors should consider insider transactions as one of many factors in their investment decision-making process.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
