CIBC Private Wealth Group LLC Sells 41,616 Shares of Western Midstream Partners, LP (NYSE:WES)

CIBC Private Wealth Group LLC lessened its stake in shares of Western Midstream Partners, LP (NYSE:WES - Free Report) by 3.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,024,147 shares of the pipeline company's stock after selling 41,616 shares during the period. CIBC Private Wealth Group LLC owned about 0.27% of Western Midstream Partners worth $41,058,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Harbour Investments Inc. raised its stake in shares of Western Midstream Partners by 555.6% during the 4th quarter. Harbour Investments Inc. now owns 1,180 shares of the pipeline company's stock worth $45,000 after purchasing an additional 1,000 shares in the last quarter. Global Retirement Partners LLC bought a new stake in Western Midstream Partners during the fourth quarter worth $51,000. Empowered Funds LLC bought a new stake in Western Midstream Partners during the fourth quarter worth $53,000. Kieckhefer Group LLC acquired a new stake in Western Midstream Partners in the fourth quarter valued at $58,000. Finally, Farther Finance Advisors LLC grew its position in shares of Western Midstream Partners by 34.7% in 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. 84.82% of the stock is owned by institutional investors and hedge funds.

Western Midstream Partners Stock Performance

Shares of NYSE WES traded down $3.14 during trading hours on Friday, reaching $37.06. 2,170,400 shares of the stock were exchanged, compared to its average volume of 1,228,000. The firm has a market capitalization of $14.13 billion, a price-to-earnings ratio of 9.45, a P/E/G ratio of 1.40 and a beta of 2.40. The stock's fifty day simple moving average is $40.63 and its 200 day simple moving average is $39.60. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.11 and a current ratio of 1.11. Western Midstream Partners, LP has a 52 week low of $33.64 and a 52 week high of $43.33.

Western Midstream Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were paid a $0.875 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $3.50 annualized dividend and a dividend yield of 9.45%. Western Midstream Partners's dividend payout ratio (DPR) is presently 86.85%.

Analyst Ratings Changes

Several brokerages recently issued reports on WES. StockNews.com upgraded shares of Western Midstream Partners from a "hold" rating to a "buy" rating in a research note on Saturday, March 8th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $41.00 price objective on shares of Western Midstream Partners in a research report on Monday, December 9th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $38.43.

About Western Midstream Partners

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.