JPMorgan Chase & Co. Sells 155,798 Shares of Western Midstream Partners, LP (NYSE:WES)

JPMorgan Chase & Co. decreased its holdings in shares of Western Midstream Partners, LP (NYSE:WES - Free Report) by 8.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,629,307 shares of the pipeline company's stock after selling 155,798 shares during the period. JPMorgan Chase & Co. owned 0.43% of Western Midstream Partners worth $62,614,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Harbour Investments Inc. boosted its position in shares of Western Midstream Partners by 555.6% during the 4th quarter. Harbour Investments Inc. now owns 1,180 shares of the pipeline company's stock worth $45,000 after purchasing an additional 1,000 shares in the last quarter. Global Retirement Partners LLC acquired a new position in Western Midstream Partners during the 4th quarter worth approximately $51,000. Empowered Funds LLC acquired a new position in Western Midstream Partners during the 4th quarter worth approximately $53,000. Kieckhefer Group LLC bought a new position in Western Midstream Partners in the fourth quarter worth approximately $58,000. Finally, Farther Finance Advisors LLC grew its stake in Western Midstream Partners by 34.7% in the fourth quarter. Farther Finance Advisors LLC now owns 1,935 shares of the pipeline company's stock valued at $74,000 after acquiring an additional 498 shares during the period. Institutional investors and hedge funds own 84.82% of the company's stock.

Western Midstream Partners Trading Up 4.3 %

Shares of Western Midstream Partners stock traded up $1.50 during trading on Wednesday, reaching $36.49. The company's stock had a trading volume of 2,299,328 shares, compared to its average volume of 1,245,325. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.05. Western Midstream Partners, LP has a 52-week low of $33.64 and a 52-week high of $43.33. The firm's 50-day moving average is $40.03 and its two-hundred day moving average is $39.47. The company has a market cap of $13.91 billion, a price-to-earnings ratio of 9.31, a PEG ratio of 1.40 and a beta of 2.40.

Remove Ads

Western Midstream Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were given a $0.875 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $3.50 annualized dividend and a yield of 9.59%. Western Midstream Partners's payout ratio is currently 86.85%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Western Midstream Partners from a "hold" rating to a "buy" rating in a 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 company. According to MarketBeat.com, Western Midstream Partners currently has an average rating of "Hold" and a consensus target price of $38.43.

Western Midstream Partners Company 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.