International Assets Investment Management LLC Buys 18,165 Shares of Western Midstream Partners, LP (NYSE:WES)

International Assets Investment Management LLC grew its holdings in Western Midstream Partners, LP (NYSE:WES - Free Report) by 9,082.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,365 shares of the pipeline company's stock after acquiring an additional 18,165 shares during the period. International Assets Investment Management LLC's holdings in Western Midstream Partners were worth $703,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Blackstone Inc. boosted its holdings in shares of Western Midstream Partners by 2.0% during the 1st quarter. Blackstone Inc. now owns 12,980,724 shares of the pipeline company's stock worth $461,465,000 after buying an additional 259,928 shares during the period. Chickasaw Capital Management LLC boosted its holdings in shares of Western Midstream Partners by 0.6% during the 2nd quarter. Chickasaw Capital Management LLC now owns 6,711,006 shares of the pipeline company's stock worth $266,628,000 after buying an additional 37,259 shares during the period. Kayne Anderson Capital Advisors LP boosted its holdings in shares of Western Midstream Partners by 27.4% during the 1st quarter. Kayne Anderson Capital Advisors LP now owns 4,165,829 shares of the pipeline company's stock worth $148,095,000 after buying an additional 895,715 shares during the period. BROOKFIELD Corp ON boosted its holdings in shares of Western Midstream Partners by 2.7% during the 1st quarter. BROOKFIELD Corp ON now owns 2,953,510 shares of the pipeline company's stock worth $104,997,000 after buying an additional 77,942 shares during the period. Finally, Westwood Holdings Group Inc. boosted its holdings in shares of Western Midstream Partners by 1.4% during the 1st quarter. Westwood Holdings Group Inc. now owns 1,809,814 shares of the pipeline company's stock worth $64,339,000 after buying an additional 24,377 shares during the period. 42.94% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on WES shares. Morgan Stanley downgraded shares of Western Midstream Partners from an "equal weight" rating to an "underweight" rating and decreased their price objective for the stock from $42.00 to $40.00 in a report on Friday, October 25th. Stifel Nicolaus upped their target price on shares of Western Midstream Partners from $39.00 to $40.00 and gave the company a "hold" rating in a research note on Friday, August 9th. Bank of America began coverage on shares of Western Midstream Partners in a research note on Thursday, October 17th. They set an "underperform" rating and a $37.00 target price for the company. StockNews.com cut shares of Western Midstream Partners from a "strong-buy" rating to a "buy" rating in a research note on Monday, October 28th. Finally, Royal Bank of Canada upped their target price on shares of Western Midstream Partners from $38.00 to $41.00 and gave the company a "sector perform" rating in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned 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 $38.13.

Western Midstream Partners Price Performance

Shares of WES stock traded up $0.77 during mid-day trading on Wednesday, reaching $38.52. The company's stock had a trading volume of 1,516,218 shares, compared to its average volume of 1,209,194. Western Midstream Partners, LP has a 1-year low of $26.81 and a 1-year high of $42.80. The company has a market cap of $14.66 billion, a P/E ratio of 9.93, a PEG ratio of 0.69 and a beta of 2.88. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.68 and a current ratio of 1.68. The firm's 50-day moving average is $38.54 and its two-hundred day moving average is $38.51.

Western Midstream Partners (NYSE:WES - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.88 by $0.09. The company had revenue of $905.63 million during the quarter, compared to analysts' expectations of $904.94 million. Western Midstream Partners had a net margin of 44.01% and a return on equity of 47.19%. The business's revenue was up 22.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.64 EPS. On average, research analysts predict that Western Midstream Partners, LP will post 4.14 earnings per share for the current year.

Western Midstream Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be given a dividend of $0.875 per share. This represents a $3.50 dividend on an annualized basis and a dividend yield of 9.09%. The ex-dividend date of this dividend is Friday, November 1st. Western Midstream Partners's dividend payout ratio (DPR) is currently 90.21%.

Insider Buying and Selling

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the completion of the sale, the insider now owns 165,681,578 shares in the company, valued at $5,923,116,413.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.04% of the stock is currently owned by corporate insiders.

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.