BBR Partners LLC acquired a new position in shares of Western Midstream Partners, LP (NYSE:WES - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,000 shares of the pipeline company's stock, valued at approximately $574,000.
A number of other large investors have also recently bought and sold shares of WES. Farther Finance Advisors LLC increased its stake in Western Midstream Partners by 287.3% in the third quarter. Farther Finance Advisors LLC now owns 1,437 shares of the pipeline company's stock valued at $55,000 after acquiring an additional 1,066 shares during the last quarter. EverSource Wealth Advisors LLC bought a new stake in shares of Western Midstream Partners during the 2nd quarter worth $74,000. Triad Wealth Partners LLC acquired a new stake in Western Midstream Partners in the second quarter valued at about $78,000. Cedar Mountain Advisors LLC grew its position in Western Midstream Partners by 16.1% in the third quarter. Cedar Mountain Advisors LLC now owns 2,158 shares of the pipeline company's stock valued at $83,000 after acquiring an additional 299 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. raised its stake in Western Midstream Partners by 63.9% during the second quarter. Farmers & Merchants Investments Inc. now owns 2,566 shares of the pipeline company's stock worth $102,000 after acquiring an additional 1,000 shares in the last quarter. 42.94% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
WES has been the topic of several research reports. US Capital Advisors raised shares of Western Midstream Partners from a "hold" rating to a "moderate buy" rating in a report on Tuesday. UBS Group dropped their price target on Western Midstream Partners from $40.00 to $37.00 and set a "neutral" rating for the company in a research note on Friday, November 15th. Stifel Nicolaus raised their price objective on Western Midstream Partners from $39.00 to $40.00 and gave the company a "hold" rating in a report on Friday, August 9th. Bank of America started coverage on Western Midstream Partners in a report on Thursday, October 17th. They issued an "underperform" rating and a $37.00 target price for the company. Finally, Morgan Stanley lowered Western Midstream Partners from an "equal weight" rating to an "underweight" rating and cut their price target for the company from $42.00 to $40.00 in a research note on Friday, October 25th. Two equities research 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.com, Western Midstream Partners presently has a consensus rating of "Hold" and an average price target of $37.88.
Read Our Latest Stock Report on Western Midstream Partners
Western Midstream Partners Trading Up 2.3 %
WES stock traded up $0.89 during trading on Thursday, hitting $39.63. The company had a trading volume of 1,147,921 shares, compared to its average volume of 1,613,342. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.05. Western Midstream Partners, LP has a one year low of $26.81 and a one year high of $42.80. The business has a 50-day moving average of $38.27 and a 200-day moving average of $38.73. The stock has a market cap of $15.08 billion, a PE ratio of 10.11, a PEG ratio of 1.04 and a beta of 2.88.
Western Midstream Partners (NYSE:WES - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.74 EPS for the quarter, missing analysts' consensus estimates of $0.83 by ($0.09). Western Midstream Partners had a net margin of 42.99% and a return on equity of 46.02%. The firm had revenue of $883.36 million during the quarter, compared to the consensus estimate of $924.83 million. During the same period in the prior year, the company posted $0.70 earnings per share. The company's revenue for the quarter was up 13.8% compared to the same quarter last year. Research analysts predict that Western Midstream Partners, LP will post 4.09 earnings per share for the current fiscal year.
Western Midstream Partners Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were given a $0.875 dividend. This represents a $3.50 annualized dividend and a dividend yield of 8.83%. The ex-dividend date of this dividend was Friday, November 1st. Western Midstream Partners's dividend payout ratio (DPR) is presently 89.29%.
About Western Midstream Partners
(
Free Report)
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.
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