SeaCrest Wealth Management LLC Makes New Investment in Western Midstream Partners, LP (NYSE:WES)

SeaCrest Wealth Management LLC acquired a new position in Western Midstream Partners, LP (NYSE:WESGet Rating) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,073 shares of the pipeline company’s stock, valued at approximately $26,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Goldman Sachs Group Inc. lifted its holdings in Western Midstream Partners by 5.9% in the first quarter. Goldman Sachs Group Inc. now owns 7,844,992 shares of the pipeline company’s stock worth $197,850,000 after buying an additional 437,711 shares during the period. JPMorgan Chase & Co. lifted its holdings in Western Midstream Partners by 54.0% in the first quarter. JPMorgan Chase & Co. now owns 5,592,191 shares of the pipeline company’s stock worth $141,035,000 after buying an additional 1,961,529 shares during the period. Clearbridge Investments LLC lifted its holdings in Western Midstream Partners by 14.2% in the first quarter. Clearbridge Investments LLC now owns 5,012,565 shares of the pipeline company’s stock worth $126,417,000 after buying an additional 623,000 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Western Midstream Partners by 21.1% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,018,287 shares of the pipeline company’s stock worth $97,685,000 after buying an additional 699,294 shares during the period. Finally, Kayne Anderson Capital Advisors LP lifted its holdings in Western Midstream Partners by 9.7% in the second quarter. Kayne Anderson Capital Advisors LP now owns 3,984,297 shares of the pipeline company’s stock worth $96,859,000 after buying an additional 352,508 shares during the period. 92.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WES has been the subject of a number of analyst reports. Wolfe Research initiated coverage on shares of Western Midstream Partners in a research note on Monday, August 1st. They set a “peer perform” rating for the company. StockNews.com initiated coverage on shares of Western Midstream Partners in a research note on Wednesday, October 12th. They set a “buy” rating for the company. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $31.00.

Western Midstream Partners Price Performance

Shares of NYSE WES opened at $26.51 on Thursday. Western Midstream Partners, LP has a fifty-two week low of $18.95 and a fifty-two week high of $29.50. The company has a 50 day simple moving average of $26.93 and a two-hundred day simple moving average of $26.62. The company has a market capitalization of $10.21 billion, a price-to-earnings ratio of 9.71 and a beta of 2.89. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.20 and a current ratio of 1.20.

Western Midstream Partners Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 14th. Investors of record on Monday, October 31st were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 7.54%. The ex-dividend date of this dividend was Friday, October 28th. Western Midstream Partners’s dividend payout ratio (DPR) is currently 73.26%.

Western Midstream Partners Profile

(Get Rating)

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.

See Also

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Institutional Ownership by Quarter for Western Midstream Partners (NYSE:WES)

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