Janney Montgomery Scott LLC Invests $1.03 Million in Western Midstream Partners, LP (NYSE:WES)

Janney Montgomery Scott LLC bought a new position in shares of Western Midstream Partners, LP (NYSE:WES - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 26,870 shares of the pipeline company's stock, valued at approximately $1,033,000.

Several other institutional investors and hedge funds have also made changes to their positions in WES. Cedar Mountain Advisors LLC raised its holdings in shares of 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 in the last quarter. Bleakley Financial Group LLC raised its holdings in shares of Western Midstream Partners by 5.8% in the third quarter. Bleakley Financial Group LLC now owns 5,711 shares of the pipeline company's stock valued at $218,000 after acquiring an additional 311 shares in the last quarter. Concurrent Investment Advisors LLC raised its holdings in shares of Western Midstream Partners by 6.2% in the third quarter. Concurrent Investment Advisors LLC now owns 6,053 shares of the pipeline company's stock valued at $232,000 after acquiring an additional 352 shares in the last quarter. Truist Financial Corp raised its holdings in Western Midstream Partners by 1.9% in the second quarter. Truist Financial Corp now owns 22,508 shares of the pipeline company's stock worth $894,000 after purchasing an additional 421 shares in the last quarter. Finally, Albert D Mason Inc. raised its holdings in Western Midstream Partners by 1.0% in the third quarter. Albert D Mason Inc. now owns 49,261 shares of the pipeline company's stock worth $1,885,000 after purchasing an additional 501 shares in the last quarter. 84.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

WES has been the subject of a number of recent research reports. Royal Bank of Canada reiterated a "sector perform" rating and issued a $41.00 target price on shares of Western Midstream Partners in a report on Monday, December 9th. Morgan Stanley downgraded shares of Western Midstream Partners from an "equal weight" rating to an "underweight" rating and reduced their target price for the stock from $42.00 to $40.00 in a report on Friday, October 25th. US Capital Advisors upgraded shares of Western Midstream Partners from a "hold" rating to a "moderate buy" rating in a report on Tuesday, November 26th. StockNews.com downgraded shares of Western Midstream Partners from a "strong-buy" rating to a "buy" rating in a report on Monday, October 28th. Finally, UBS Group reduced their target price on shares of Western Midstream Partners from $40.00 to $37.00 and set a "neutral" rating for the company in a report on Friday, November 15th. 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. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $37.88.

Western Midstream Partners Stock Down 0.2 %

Shares of WES stock traded down $0.09 during trading hours on Friday, reaching $40.35. 713,880 shares of the company's stock were exchanged, compared to its average volume of 1,413,380. The stock's fifty day moving average price is $40.16 and its two-hundred day moving average price is $39.12. The stock has a market cap of $15.36 billion, a PE ratio of 10.29, a PEG ratio of 1.36 and a beta of 2.88. Western Midstream Partners, LP has a 1 year low of $27.87 and a 1 year 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.

Western Midstream Partners (NYSE:WES - Get Free Report) last issued its earnings results on Wednesday, November 6th. The pipeline company reported $0.74 EPS for the quarter, missing analysts' consensus estimates of $0.83 by ($0.09). The firm had revenue of $883.36 million during the quarter, compared to analysts' expectations of $924.83 million. Western Midstream Partners had a net margin of 42.99% and a return on equity of 46.02%. Western Midstream Partners's quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.70 EPS. Research analysts predict that Western Midstream Partners, LP will post 4.02 EPS for the current year.

Western Midstream Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be given a $0.875 dividend. The ex-dividend date is Monday, February 3rd. This represents a $3.50 dividend on an annualized basis and a yield of 8.67%. Western Midstream Partners's dividend payout ratio is currently 89.29%.

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.