Hickory Point Bank & Trust Takes Position in Western Midstream Partners, LP (NYSE:WES)

Hickory Point Bank & Trust bought a new position in shares of Western Midstream Partners, LP (NYSE:WES - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 6,350 shares of the pipeline company's stock, valued at approximately $244,000.

Several other institutional investors also recently modified their holdings of WES. Global Retirement Partners LLC bought a new position in Western Midstream Partners during the 4th quarter worth approximately $51,000. Empowered Funds LLC bought a new position in shares of Western Midstream Partners during the fourth quarter worth $53,000. Farther Finance Advisors LLC grew its holdings in shares of 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 valued at $55,000 after buying an additional 1,066 shares during the period. Kieckhefer Group LLC bought a new stake in shares of Western Midstream Partners in the 4th quarter valued at $58,000. Finally, Avondale Wealth Management acquired a new stake in Western Midstream Partners during the 4th quarter worth $77,000. 84.82% of the stock is currently owned by institutional investors and hedge funds.

Western Midstream Partners Stock Down 0.8 %

NYSE:WES traded down $0.32 during trading hours on Wednesday, reaching $38.39. 2,624,553 shares of the stock were exchanged, compared to its average volume of 1,399,495. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.11 and a quick ratio of 1.11. Western Midstream Partners, LP has a twelve month low of $33.39 and a twelve month high of $43.33. The stock has a market cap of $14.64 billion, a PE ratio of 9.79, a PEG ratio of 1.40 and a beta of 2.88. The firm has a 50 day moving average of $40.51 and a 200 day moving average of $39.24.

Remove Ads

Western Midstream Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were issued a $0.875 dividend. This represents a $3.50 annualized dividend and a dividend yield of 9.12%. The ex-dividend date was Monday, February 3rd. Western Midstream Partners's payout ratio is 86.85%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. StockNews.com cut Western Midstream Partners from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. US Capital Advisors upgraded Western Midstream Partners from a "hold" rating to a "moderate buy" rating in a research report on Tuesday, November 26th. Royal Bank of Canada restated a "sector perform" rating and set a $41.00 target price on shares of Western Midstream Partners in a report on Monday, December 9th. Finally, UBS Group cut their price target 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 assigned a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, Western Midstream Partners has an average rating of "Hold" and an average target price of $38.43.

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.