Autumn Glory Partners LLC Purchases New Stake in Western Midstream Partners, LP (NYSE:WES)

Autumn Glory Partners LLC acquired a new stake in shares of Western Midstream Partners, LP (NYSE:WES - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 16,960 shares of the pipeline company's stock, valued at approximately $652,000.

A number of other institutional investors have also recently made changes to their positions in WES. Empowered Funds LLC acquired a new stake in Western Midstream Partners in the fourth quarter worth about $53,000. Farther Finance Advisors LLC boosted its stake in Western Midstream Partners by 287.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,437 shares of the pipeline company's stock worth $55,000 after purchasing an additional 1,066 shares in the last quarter. Kieckhefer Group LLC purchased a new stake in Western Midstream Partners during the 4th quarter worth approximately $58,000. Avondale Wealth Management acquired a new position in Western Midstream Partners during the 4th quarter valued at approximately $77,000. Finally, Millburn Ridgefield Corp purchased a new position in shares of Western Midstream Partners in the third quarter worth $86,000. Institutional investors and hedge funds own 84.82% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on WES. StockNews.com lowered shares of Western Midstream Partners from a "strong-buy" rating to a "buy" rating in a report on Monday, October 28th. US Capital Advisors upgraded Western Midstream Partners from a "hold" rating to a "moderate buy" rating in a research note on Tuesday, November 26th. Morgan Stanley downgraded Western Midstream Partners from an "equal weight" rating to an "underweight" rating and decreased their target price for the stock from $42.00 to $40.00 in a report on Friday, October 25th. Royal Bank of Canada restated a "sector perform" rating and set a $41.00 price objective on shares of Western Midstream Partners in a research note on Monday, December 9th. Finally, UBS Group cut their price objective on shares of Western Midstream Partners from $40.00 to $37.00 and set a "neutral" rating on the stock in a research note on Friday, November 15th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, Western Midstream Partners presently has a consensus rating of "Hold" and an average price target of $37.88.

Western Midstream Partners Stock Performance

WES traded down $0.26 on Wednesday, reaching $41.36. The stock had a trading volume of 969,647 shares, compared to its average volume of 1,325,933. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.05. The company has a market cap of $15.74 billion, a P/E ratio of 10.55, a price-to-earnings-growth ratio of 1.37 and a beta of 2.88. The business's 50-day moving average price is $40.30 and its two-hundred day moving average price is $39.12. Western Midstream Partners, LP has a 12-month low of $29.07 and a 12-month high of $43.33.

Western Midstream Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were given a $0.875 dividend. The ex-dividend date was Monday, February 3rd. This represents a $3.50 annualized dividend and a dividend yield of 8.46%. Western Midstream Partners's dividend payout ratio (DPR) is presently 89.29%.

Western Midstream Partners Company 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.