Western Midstream Partners, LP (NYSE:WES) Shares Sold by Raymond James & Associates

Raymond James & Associates trimmed its position in shares of Western Midstream Partners, LP (NYSE:WES - Free Report) by 26.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 76,649 shares of the pipeline company's stock after selling 27,234 shares during the period. Raymond James & Associates' holdings in Western Midstream Partners were worth $2,933,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Bleakley Financial Group LLC increased its stake in 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 worth $218,000 after purchasing an additional 311 shares during the period. Cedar Mountain Advisors LLC increased its position in shares of Western Midstream Partners by 16.1% during the third quarter. Cedar Mountain Advisors LLC now owns 2,158 shares of the pipeline company's stock worth $83,000 after acquiring an additional 299 shares during the period. Exchange Traded Concepts LLC raised its position in Western Midstream Partners by 3.2% during the 3rd quarter. Exchange Traded Concepts LLC now owns 231,872 shares of the pipeline company's stock valued at $8,871,000 after purchasing an additional 7,111 shares in the last quarter. Inspire Investing LLC lifted its stake in Western Midstream Partners by 7.4% in the third quarter. Inspire Investing LLC now owns 21,890 shares of the pipeline company's stock worth $838,000 after acquiring an additional 1,502 shares during the period. Finally, BWM Planning LLC bought a new position in Western Midstream Partners during the 3rd quarter worth about $1,084,000. Institutional investors own 42.94% of the company's stock.

Insider Buying and Selling at Western Midstream Partners

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the business's stock in a transaction dated 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 completion of the transaction, the insider now owns 165,681,578 shares of the company's stock, valued at $5,923,116,413.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.04% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. UBS Group boosted their price target on shares of Western Midstream Partners from $38.00 to $39.00 and gave the company a "neutral" rating in a report on Wednesday, September 18th. Stifel Nicolaus raised their price objective on Western Midstream Partners from $39.00 to $40.00 and gave the company a "hold" rating in a research report on Friday, August 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. StockNews.com lowered shares of Western Midstream Partners from a "strong-buy" rating to a "buy" rating in a research report on Monday, October 28th. Finally, Royal Bank of Canada increased 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 report on Wednesday, October 16th. Two equities research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $38.13.

Western Midstream Partners Stock Performance

Shares of WES traded up $0.94 during trading hours on Tuesday, reaching $37.75. 812,730 shares of the company traded hands, compared to its average volume of 1,207,764. The stock has a market capitalization of $14.36 billion, a P/E ratio of 9.67, a P/E/G ratio of 0.69 and a beta of 2.88. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.08. The business has a fifty day moving average price of $38.53 and a 200-day moving average price of $38.49. Western Midstream Partners, LP has a 12-month low of $26.81 and a 12-month high of $42.80.

Western Midstream Partners (NYSE:WES - Get Free Report) last released its earnings results on Wednesday, August 7th. The pipeline company reported $0.97 EPS for the quarter, topping analysts' consensus estimates of $0.88 by $0.09. Western Midstream Partners had a return on equity of 47.19% and a net margin of 44.01%. The firm had revenue of $905.63 million during the quarter, compared to the consensus estimate of $904.94 million. During the same quarter in the previous year, the company posted $0.64 earnings per share. The company's revenue was up 22.7% compared to the same quarter last year. Equities analysts anticipate that Western Midstream Partners, LP will post 4.14 EPS for the current fiscal year.

Western Midstream Partners Announces Dividend

The firm 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. The ex-dividend date of this dividend is Friday, November 1st. This represents a $3.50 dividend on an annualized basis and a yield of 9.27%. Western Midstream Partners's dividend payout ratio is presently 90.21%.

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.