Vident Investment Advisory LLC Has $4.24 Million Position in Western Midstream Partners, LP (NYSE:WES)

Vident Investment Advisory LLC grew its holdings in Western Midstream Partners, LP (NYSE:WESGet Rating) by 7.5% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 168,250 shares of the pipeline company’s stock after buying an additional 11,748 shares during the quarter. Vident Investment Advisory LLC’s holdings in Western Midstream Partners were worth $4,243,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. MCF Advisors LLC acquired a new stake in shares of Western Midstream Partners in the first quarter valued at $33,000. Allworth Financial LP acquired a new stake in shares of Western Midstream Partners in the first quarter valued at $38,000. Farmers & Merchants Investments Inc. acquired a new stake in shares of Western Midstream Partners in the first quarter valued at $39,000. Fifth Third Bancorp increased its stake in shares of Western Midstream Partners by 126.5% in the first quarter. Fifth Third Bancorp now owns 1,606 shares of the pipeline company’s stock valued at $41,000 after buying an additional 897 shares in the last quarter. Finally, Trek Financial LLC acquired a new stake in shares of Western Midstream Partners in the first quarter valued at $215,000. 92.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Western Midstream Partners

In other Western Midstream Partners news, SVP Robert W. Bourne purchased 2,500 shares of the company’s stock in a transaction dated Friday, June 17th. The shares were bought at an average price of $22.90 per share, with a total value of $57,250.00. Following the completion of the transaction, the senior vice president now directly owns 34,400 shares in the company, valued at approximately $787,760. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Robert W. Bourne bought 2,500 shares of the company’s stock in a transaction that occurred on Friday, June 17th. The shares were acquired at an average price of $22.90 per share, with a total value of $57,250.00. Following the transaction, the senior vice president now owns 34,400 shares in the company, valued at $787,760. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Petroleum Corp /De/ Occidental sold 10,000,000 shares of Western Midstream Partners stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $25.25, for a total value of $252,500,000.00. Following the completion of the sale, the insider now directly owns 190,281,578 shares in the company, valued at approximately $4,804,609,844.50. The disclosure for this sale can be found here. 0.04% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

WES has been the topic of several recent research reports. Morgan Stanley raised their price target on Western Midstream Partners from $31.00 to $35.00 and gave the company an “overweight” rating in a report on Wednesday, July 20th. Barclays raised their price target on Western Midstream Partners from $29.00 to $31.00 and gave the company an “overweight” rating in a report on Wednesday, July 20th. StockNews.com cut Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a report on Friday, July 22nd. Finally, Wolfe Research initiated coverage on Western Midstream Partners in a report on Monday, August 1st. They issued a “peer perform” rating on the stock. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $31.00.

Western Midstream Partners Price Performance

Shares of WES opened at $28.28 on Monday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 2.01. Western Midstream Partners, LP has a 1 year low of $18.89 and a 1 year high of $29.50. The stock has a market cap of $10.93 billion, a P/E ratio of 10.55 and a beta of 3.02. The stock’s 50-day moving average price is $26.85 and its two-hundred day moving average price is $25.89.

Western Midstream Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 12th. Stockholders of record on Monday, August 1st were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.07%. The ex-dividend date was Friday, July 29th. Western Midstream Partners’s dividend payout ratio is currently 74.63%.

Western Midstream Partners Company Profile

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Western Midstream Partners, LP, a midstream energy company, together with its subsidiaries, acquires, owns, develops, and operates 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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Institutional Ownership by Quarter for Western Midstream Partners (NYSE:WES)

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