31,306 Shares in Western Midstream Partners, LP (NYSE:WES) Bought by Daymark Wealth Partners LLC

Daymark Wealth Partners LLC acquired a new position in Western Midstream Partners, LP (NYSE:WES - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 31,306 shares of the pipeline company's stock, valued at approximately $1,244,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. American National Bank lifted its holdings in Western Midstream Partners by 34.5% during the first quarter. American National Bank now owns 1,190 shares of the pipeline company's stock valued at $42,000 after purchasing an additional 305 shares in the last quarter. Albert D Mason Inc. lifted its position in shares of Western Midstream Partners by 0.7% in the second quarter. Albert D Mason Inc. now owns 48,760 shares of the pipeline company's stock valued at $1,937,000 after acquiring an additional 333 shares in the last quarter. Belfer Management LLC boosted its stake in shares of Western Midstream Partners by 4.4% in the first quarter. Belfer Management LLC now owns 9,957 shares of the pipeline company's stock worth $354,000 after acquiring an additional 418 shares during the last quarter. Retirement Group LLC raised its stake in Western Midstream Partners by 40.2% in the 1st quarter. Retirement Group LLC now owns 1,591 shares of the pipeline company's stock valued at $57,000 after purchasing an additional 456 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. lifted its holdings in Western Midstream Partners by 1.7% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 34,109 shares of the pipeline company's stock valued at $1,213,000 after purchasing an additional 554 shares in the last quarter. Institutional investors and hedge funds own 42.94% of the company's stock.

Western Midstream Partners Trading Up 0.7 %

WES stock traded up $0.27 during midday trading on Friday, hitting $38.21. 484,120 shares of the company's stock were exchanged, compared to its average volume of 1,245,869. Western Midstream Partners, LP has a 1-year low of $26.14 and a 1-year high of $42.80. The business has a 50-day simple moving average of $38.88 and a two-hundred day simple moving average of $37.80. The stock has a market capitalization of $14.54 billion, a PE ratio of 10.76, a P/E/G ratio of 0.74 and a beta of 2.87. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.08.

Western Midstream Partners (NYSE:WES - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The pipeline company reported $0.97 EPS for the quarter, beating the consensus estimate 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 firm's revenue was up 22.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.64 EPS. On average, sell-side analysts predict that Western Midstream Partners, LP will post 4.16 EPS for the current fiscal year.

Western Midstream Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 1st were issued a $0.875 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $3.50 annualized dividend and a yield of 9.16%. Western Midstream Partners's dividend payout ratio (DPR) is 98.59%.

Insider Buying and Selling

In other Western Midstream Partners news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the firm's stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total value of $697,125,000.00. Following the sale, the insider now directly owns 165,681,578 shares in the company, valued at $5,923,116,413.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.04% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on WES shares. StockNews.com lowered shares of Western Midstream Partners from a "strong-buy" rating to a "buy" rating in a report on Tuesday, September 17th. Stifel Nicolaus increased their price objective on shares of Western Midstream Partners from $39.00 to $40.00 and gave the company a "hold" rating in a report on Friday, August 9th. UBS Group boosted their target price on Western Midstream Partners from $38.00 to $39.00 and gave the stock a "neutral" rating in a report on Wednesday, September 18th. Royal Bank of Canada increased their price target on Western Midstream Partners from $36.00 to $38.00 and gave the company a "sector perform" rating in a report on Tuesday, August 27th. Finally, Morgan Stanley lowered Western Midstream Partners from an "overweight" rating to an "equal weight" rating and set a $42.00 price objective on the stock. in a research note on Monday, September 16th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $36.75.

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.