Caprock Group LLC boosted its position in Western Midstream Partners, LP (NYSE:WES - Free Report) by 236.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,869 shares of the pipeline company's stock after buying an additional 12,565 shares during the quarter. Caprock Group LLC's holdings in Western Midstream Partners were worth $687,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WES. Farther Finance Advisors LLC lifted its stake in shares of 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 worth $55,000 after acquiring 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 shares of Western Midstream Partners in the 4th quarter valued at approximately $77,000. Cedar Mountain Advisors LLC boosted its stake in shares of Western Midstream Partners by 16.1% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 2,158 shares of the pipeline company's stock valued at $83,000 after buying an additional 299 shares during the last quarter. Finally, Millburn Ridgefield Corp acquired a new stake in shares of Western Midstream Partners during the third quarter worth approximately $86,000. 84.82% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research analysts have commented on WES shares. Bank of America assumed coverage on shares of Western Midstream Partners in a research note on Thursday, October 17th. They set an "underperform" rating and a $37.00 price objective on the stock. US Capital Advisors raised shares of Western Midstream Partners from a "hold" rating to a "moderate buy" rating in a research report on Tuesday, November 26th. Royal Bank of Canada reissued a "sector perform" rating and issued a $41.00 price objective on shares of Western Midstream Partners in a report on Monday, December 9th. StockNews.com lowered Western Midstream Partners from a "strong-buy" rating to a "buy" rating in a research report on Monday, October 28th. Finally, UBS Group dropped their price target on Western Midstream Partners from $40.00 to $37.00 and set a "neutral" rating on the stock in a research report on Friday, November 15th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $37.88.
Get Our Latest Stock Report on Western Midstream Partners
Western Midstream Partners Stock Performance
WES traded down $0.09 during trading on Friday, reaching $40.35. 713,880 shares of the company were exchanged, compared to its average volume of 1,355,799. Western Midstream Partners, LP has a 52 week low of $27.87 and a 52 week high of $43.33. 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 firm has a 50 day moving average of $40.17 and a 200 day moving average of $39.13. The stock has a market cap of $15.36 billion, a P/E ratio of 10.29, a PEG ratio of 1.38 and a beta of 2.88.
Western Midstream Partners (NYSE:WES - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.74 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.09). The firm had revenue of $883.36 million for the quarter, compared to the consensus estimate of $924.83 million. Western Midstream Partners had a return on equity of 46.02% and a net margin of 42.99%. The firm's revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.70 EPS. On average, sell-side analysts forecast that Western Midstream Partners, LP will post 4.02 EPS for the current fiscal year.
Western Midstream Partners Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be paid a dividend of $0.875 per share. This represents a $3.50 annualized dividend and a yield of 8.67%. The ex-dividend date of this dividend is Monday, February 3rd. Western Midstream Partners's payout ratio is currently 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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