Kovitz Investment Group Partners LLC Purchases Shares of 69,366 Western Midstream Partners, LP (NYSE:WES)

Kovitz Investment Group Partners LLC purchased a new position in Western Midstream Partners, LP (NYSE:WES - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 69,366 shares of the pipeline company's stock, valued at approximately $2,654,000.

Other hedge funds also recently modified their holdings of the company. Cedar Mountain Advisors LLC grew its position in shares of Western Midstream Partners by 16.1% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 2,158 shares of the pipeline company's stock valued at $83,000 after purchasing an additional 299 shares during the period. Bleakley Financial Group LLC boosted 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 buying an additional 311 shares during the period. Concurrent Investment Advisors LLC boosted 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 buying an additional 352 shares during the period. Truist Financial Corp increased its position in shares of Western Midstream Partners by 1.9% during the second quarter. Truist Financial Corp now owns 22,508 shares of the pipeline company's stock worth $894,000 after acquiring an additional 421 shares in the last quarter. Finally, Albert D Mason Inc. raised its holdings in shares of Western Midstream Partners by 1.0% during the third quarter. Albert D Mason Inc. now owns 49,261 shares of the pipeline company's stock worth $1,885,000 after acquiring an additional 501 shares during the period. Institutional investors and hedge funds own 84.82% of the company's stock.

Analyst Upgrades and Downgrades

WES has been the subject of a number of research analyst reports. 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 research note on Friday, November 15th. Morgan Stanley cut Western Midstream Partners from an "equal weight" rating to an "underweight" rating and reduced their price objective for the stock from $42.00 to $40.00 in a research report on Friday, October 25th. Royal Bank of Canada reiterated a "sector perform" rating and set a $41.00 price objective on shares of Western Midstream Partners in a report on Monday. US Capital Advisors upgraded Western Midstream Partners from a "hold" rating to a "moderate buy" rating in a research note on Tuesday, November 26th. Finally, Bank of America started 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 target for the company. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $37.88.

Western Midstream Partners Stock Down 2.0 %

Shares of Western Midstream Partners stock traded down $0.81 on Tuesday, reaching $38.78. 2,618,163 shares of the company were exchanged, compared to its average volume of 1,245,492. The company has a market capitalization of $14.76 billion, a price-to-earnings ratio of 10.11, a PEG ratio of 1.09 and a beta of 2.90. 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, LP has a one year low of $26.81 and a one year high of $42.80. The company has a 50-day moving average of $38.51 and a 200 day moving average of $38.86.

Western Midstream Partners (NYSE:WES - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.09). Western Midstream Partners had a return on equity of 46.02% and a net margin of 42.99%. The firm had revenue of $883.36 million for the quarter, compared to the consensus estimate of $924.83 million. During the same period last year, the company posted $0.70 earnings per share. The business's revenue was up 13.8% compared to the same quarter last year. On average, equities research analysts forecast that Western Midstream Partners, LP will post 4.05 earnings per share for the current year.

Western Midstream Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were issued a dividend of $0.875 per share. This represents a $3.50 dividend on an annualized basis and a yield of 9.03%. The ex-dividend date of this dividend was Friday, November 1st. Western Midstream Partners's 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.