Raymond James Financial Inc. Makes New Investment in Western Midstream Partners, LP (NYSE:WES)

Raymond James Financial Inc. bought a new stake in shares of Western Midstream Partners, LP (NYSE:WES - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 496,468 shares of the pipeline company's stock, valued at approximately $19,079,000. Raymond James Financial Inc. owned approximately 0.13% of Western Midstream Partners as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Harbour Investments Inc. lifted its holdings in Western Midstream Partners by 555.6% in the fourth quarter. Harbour Investments Inc. now owns 1,180 shares of the pipeline company's stock worth $45,000 after buying an additional 1,000 shares during the period. Global Retirement Partners LLC bought a new position in Western Midstream Partners in the fourth quarter worth $51,000. Empowered Funds LLC bought a new stake in shares of Western Midstream Partners during the 4th quarter valued at $53,000. Kieckhefer Group LLC bought a new position in shares of Western Midstream Partners in the 4th quarter worth about $58,000. Finally, Farther Finance Advisors LLC lifted its position in Western Midstream Partners by 34.7% during the 4th quarter. Farther Finance Advisors LLC now owns 1,935 shares of the pipeline company's stock valued at $74,000 after acquiring an additional 498 shares during the period. Institutional investors own 84.82% of the company's stock.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Western Midstream Partners from a "hold" rating to a "buy" rating in a report on Saturday, March 8th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Western Midstream Partners currently has a consensus rating of "Hold" and a consensus target price of $38.43.

Western Midstream Partners Stock Performance

Shares of WES traded up $1.14 during trading hours on Thursday, hitting $39.04. The stock had a trading volume of 906,954 shares, compared to its average volume of 1,247,906. Western Midstream Partners, LP has a 12 month low of $33.60 and a 12 month high of $43.33. The stock has a fifty day moving average price of $39.43 and a 200 day moving average price of $39.39. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market capitalization of $14.89 billion, a PE ratio of 9.96, a PEG ratio of 1.40 and a beta of 2.40.

Western Midstream Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Friday, May 2nd will be given a dividend of $0.91 per share. The ex-dividend date is Friday, May 2nd. This is an increase from Western Midstream Partners's previous quarterly dividend of $0.88. This represents a $3.64 annualized dividend and a yield of 9.32%. Western Midstream Partners's payout ratio is 90.32%.

Western Midstream Partners Profile

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.