Wambolt & Associates LLC Purchases Shares of 22,209 Western Midstream Partners, LP (NYSE:WES)

Wambolt & Associates LLC acquired a new position in shares of Western Midstream Partners, LP (NYSE:WES - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 22,209 shares of the pipeline company's stock, valued at approximately $853,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Duff & Phelps Investment Management Co. lifted its stake in Western Midstream Partners by 6,986.8% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 708,683 shares of the pipeline company's stock worth $27,114,000 after acquiring an additional 698,683 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Western Midstream Partners by 60.1% during the third quarter. JPMorgan Chase & Co. now owns 1,785,105 shares of the pipeline company's stock worth $68,298,000 after purchasing an additional 670,440 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Western Midstream Partners during the fourth quarter worth about $19,079,000. Citigroup Inc. boosted its stake in shares of Western Midstream Partners by 322.1% in the third quarter. Citigroup Inc. now owns 406,587 shares of the pipeline company's stock valued at $15,556,000 after purchasing an additional 310,260 shares during the period. Finally, Terril Brothers Inc. grew its holdings in shares of Western Midstream Partners by 38.4% in the fourth quarter. Terril Brothers Inc. now owns 374,536 shares of the pipeline company's stock valued at $14,393,000 after purchasing an additional 104,000 shares in the last quarter. Institutional investors and hedge funds own 84.82% of the company's stock.

Remove Ads

Western Midstream Partners Price Performance

Western Midstream Partners stock traded up $0.44 during midday trading on Friday, reaching $41.49. 1,166,854 shares of the company were exchanged, compared to its average volume of 1,226,414. The firm's 50-day simple moving average is $40.84 and its 200-day simple moving average is $39.56. Western Midstream Partners, LP has a 1 year low of $33.64 and a 1 year high of $43.33. The company has a market capitalization of $15.82 billion, a price-to-earnings ratio of 10.58, a P/E/G ratio of 1.40 and a beta of 2.88. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.11 and a current ratio of 1.11.

Western Midstream Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were issued a dividend of $0.875 per share. This represents a $3.50 annualized dividend and a dividend yield of 8.44%. The ex-dividend date of this dividend was Monday, February 3rd. Western Midstream Partners's dividend payout ratio (DPR) is 86.85%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Royal Bank of Canada reiterated a "sector perform" rating and issued a $41.00 price objective on shares of Western Midstream Partners in a research note on Monday, December 9th. StockNews.com raised Western Midstream Partners from a "hold" rating to a "buy" rating in a research report on Saturday, March 8th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $38.43.

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.