MAI Capital Management Has $1.14 Million Position in Western Midstream Partners, LP (NYSE:WES)

MAI Capital Management boosted its holdings in Western Midstream Partners, LP (NYSE:WES - Free Report) by 293.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 29,878 shares of the pipeline company's stock after buying an additional 22,277 shares during the period. MAI Capital Management's holdings in Western Midstream Partners were worth $1,143,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Farther Finance Advisors LLC grew its position in Western Midstream Partners by 287.3% in the third quarter. Farther Finance Advisors LLC now owns 1,437 shares of the pipeline company's stock valued at $55,000 after acquiring an additional 1,066 shares in the last quarter. EverSource Wealth Advisors LLC acquired a new stake in shares of Western Midstream Partners during the second quarter worth approximately $74,000. Triad Wealth Partners LLC acquired a new stake in shares of Western Midstream Partners during the second quarter worth approximately $78,000. Cedar Mountain Advisors LLC grew 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 buying an additional 299 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. grew its position in shares of Western Midstream Partners by 63.9% during the second quarter. Farmers & Merchants Investments Inc. now owns 2,566 shares of the pipeline company's stock worth $102,000 after buying an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 42.94% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Royal Bank of Canada raised their price target on shares of Western Midstream Partners from $38.00 to $41.00 and gave the stock a "sector perform" rating in a research report on Wednesday, October 16th. UBS Group reduced their price objective on Western Midstream Partners from $40.00 to $37.00 and set a "neutral" rating on the stock in a research note on Friday, November 15th. Stifel Nicolaus raised their price objective on Western Midstream Partners from $39.00 to $40.00 and gave the stock a "hold" rating in a research note on Friday, August 9th. 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 note on Friday, October 25th. Finally, StockNews.com cut Western Midstream Partners from a "strong-buy" rating to a "buy" rating in a research note on Monday, October 28th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, Western Midstream Partners presently has an average rating of "Hold" and an average price target of $37.88.

Western Midstream Partners Stock Up 2.5 %

NYSE:WES traded up $0.93 on Friday, hitting $38.86. 1,570,064 shares of the company's stock traded hands, compared to its average volume of 1,246,534. 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 1 year low of $26.81 and a 1 year high of $42.80. The firm has a 50-day moving average price of $38.34 and a 200-day moving average price of $38.62. The company has a market cap of $14.79 billion, a PE ratio of 9.96, a price-to-earnings-growth ratio of 0.72 and a beta of 2.88.

Western Midstream Partners (NYSE:WES - Get Free Report) last released its earnings results on Wednesday, November 6th. The pipeline company reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.09). Western Midstream Partners had a net margin of 42.99% and a return on equity of 46.02%. The business had revenue of $883.36 million for the quarter, compared to analysts' expectations of $924.83 million. During the same period last year, the firm earned $0.70 EPS. The company's revenue was up 13.8% compared to the same quarter last year. Equities analysts anticipate that Western Midstream Partners, LP will post 4.09 EPS for the current fiscal year.

Western Midstream Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were issued a dividend of $0.875 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.50 annualized dividend and a dividend yield of 9.01%. Western Midstream Partners's dividend payout ratio is 89.29%.

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.