Western Midstream Partners shares hit 52-week high amid director stock purchase

Western Midstream Partners, LP (NYSE:WES) saw its share price reach a new 52-week high of $48.63 during mid-day trading on Wednesday.

In a separate transaction disclosed in a filing with the Securities and Exchange Commission, Director Frederick Forthuber acquired 5,140 shares of the company at an average price of $48.62 per share, totaling approximately $249,906.

The company recently reported quarterly earnings that exceeded consensus estimates, with revenue of $1.22 billion and an earnings per share of $0.99. Western Midstream Partners currently maintains a market capitalization of approximately $20 billion.