JPMorgan Chase & Co. boosted its position in Western Midstream Partners, LP (NYSE:WES - Free Report) by 60.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,785,105 shares of the pipeline company's stock after purchasing an additional 670,440 shares during the period. JPMorgan Chase & Co. owned approximately 0.47% of Western Midstream Partners worth $68,298,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in WES. Tidal Investments LLC lifted its holdings in Western Midstream Partners by 26.4% in the 3rd quarter. Tidal Investments LLC now owns 13,796 shares of the pipeline company's stock valued at $528,000 after acquiring an additional 2,879 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Western Midstream Partners in the 3rd quarter worth approximately $166,000. Virtu Financial LLC acquired a new stake in Western Midstream Partners during the third quarter valued at approximately $409,000. M&T Bank Corp bought a new stake in Western Midstream Partners during the third quarter worth approximately $765,000. Finally, Duff & Phelps Investment Management Co. grew its position in Western Midstream Partners by 6,986.8% in the third quarter. Duff & Phelps Investment Management Co. now owns 708,683 shares of the pipeline company's stock worth $27,114,000 after buying an additional 698,683 shares during the last quarter. 84.82% of the stock is owned by institutional investors.
Western Midstream Partners Stock Down 0.1 %
Shares of NYSE WES traded down $0.02 during mid-day trading on Friday, reaching $39.24. The company had a trading volume of 1,103,780 shares, compared to its average volume of 1,155,440. 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, LP has a twelve month low of $27.49 and a twelve month high of $42.80. The stock's 50 day moving average is $38.55 and its 200-day moving average is $39.03. The stock has a market capitalization of $14.93 billion, a PE ratio of 10.01, a price-to-earnings-growth ratio of 1.08 and a beta of 2.90.
Western Midstream Partners (NYSE:WES - Get Free Report) last issued 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). The firm had revenue of $883.36 million during the quarter, compared to analyst estimates of $924.83 million. Western Midstream Partners had a return on equity of 46.02% and a net margin of 42.99%. The business's revenue for the quarter was up 13.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.70 earnings per share. As a group, equities analysts anticipate that Western Midstream Partners, LP will post 4.03 earnings per share for the current fiscal year.
Western Midstream Partners Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were paid a $0.875 dividend. This represents a $3.50 dividend on an annualized basis and a yield of 8.92%. The ex-dividend date of this dividend was Friday, November 1st. Western Midstream Partners's dividend payout ratio (DPR) is presently 89.29%.
Analyst Upgrades and Downgrades
WES has been the subject of a number of recent research reports. UBS Group cut their price objective on Western Midstream Partners from $40.00 to $37.00 and set a "neutral" rating for the company in a research report on Friday, November 15th. US Capital Advisors raised Western Midstream Partners from a "hold" rating to a "moderate buy" rating in a report on Tuesday, November 26th. Bank of America assumed coverage on Western Midstream Partners in a report on Thursday, October 17th. They set an "underperform" rating and a $37.00 price objective on the stock. StockNews.com cut shares of Western Midstream Partners from a "strong-buy" rating to a "buy" rating in a report on Monday, October 28th. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $41.00 price target on shares of Western Midstream Partners in a report on Monday, December 9th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Western Midstream Partners presently has a consensus rating of "Hold" and a consensus target price of $37.88.
Check Out Our Latest Stock Analysis on WES
About Western Midstream Partners
(
Free Report)
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.
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