Raymond James & Associates Reduces Holdings in Western Midstream Partners, LP (NYSE:WES)

Raymond James & Associates decreased its holdings in Western Midstream Partners, LP (NYSE:WESGet Rating) by 35.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 70,772 shares of the pipeline company’s stock after selling 38,100 shares during the quarter. Raymond James & Associates’ holdings in Western Midstream Partners were worth $1,781,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Advisor Group Holdings Inc. raised its stake in Western Midstream Partners by 6.4% during the 1st quarter. Advisor Group Holdings Inc. now owns 11,853 shares of the pipeline company’s stock worth $234,000 after acquiring an additional 710 shares during the period. BlackRock Inc. raised its position in shares of Western Midstream Partners by 10.7% during the 1st quarter. BlackRock Inc. now owns 261,945 shares of the pipeline company’s stock valued at $6,606,000 after purchasing an additional 25,249 shares during the period. Blair William & Co. IL raised its position in shares of Western Midstream Partners by 5.2% during the 1st quarter. Blair William & Co. IL now owns 9,492 shares of the pipeline company’s stock valued at $239,000 after purchasing an additional 470 shares during the period. First Trust Advisors LP lifted its stake in shares of Western Midstream Partners by 14.0% during the 1st quarter. First Trust Advisors LP now owns 1,108,739 shares of the pipeline company’s stock valued at $27,962,000 after buying an additional 136,334 shares in the last quarter. Finally, Parkwood LLC bought a new position in Western Midstream Partners in the 1st quarter worth $797,000. Hedge funds and other institutional investors own 91.96% of the company’s stock.

Western Midstream Partners Stock Down 0.4 %

Shares of NYSE:WES opened at $28.26 on Wednesday. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 2.34. Western Midstream Partners, LP has a 12 month low of $21.95 and a 12 month high of $29.50. The company has a 50-day moving average price of $26.89 and a 200 day moving average price of $26.98. The company has a market cap of $10.88 billion, a price-to-earnings ratio of 10.35 and a beta of 2.81.

Western Midstream Partners (NYSE:WESGet Rating) last announced its quarterly earnings results on Wednesday, November 2nd. The pipeline company reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.09). Western Midstream Partners had a net margin of 35.02% and a return on equity of 35.26%. The business had revenue of $837.57 million during the quarter, compared to the consensus estimate of $821.43 million. As a group, equities research analysts predict that Western Midstream Partners, LP will post 2.92 earnings per share for the current year.

Western Midstream Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 13th. Investors of record on Wednesday, February 1st will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.08%. The ex-dividend date is Tuesday, January 31st. Western Midstream Partners’s payout ratio is 73.26%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. cut their price target on Western Midstream Partners from $35.00 to $33.00 and set an “overweight” rating for the company in a research note on Monday. Barclays increased their price target on Western Midstream Partners from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 18th. Citigroup assumed coverage on Western Midstream Partners in a research note on Thursday, December 8th. They issued a “buy” rating and a $33.00 price target for the company. StockNews.com assumed coverage on Western Midstream Partners in a research note on Wednesday, October 12th. They issued a “buy” rating for the company. Finally, Morgan Stanley increased their price target on Western Midstream Partners from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Monday, January 9th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Western Midstream Partners presently has a consensus rating of “Moderate Buy” and an average target price of $32.83.

Western Midstream Partners Company Profile

(Get Rating)

Western Midstream Partners LP owns, operates, acquires and develops midstream energy assets. It engages in the business of gathering, processing, compressing, treating, and transporting natural gas, condensate, natural gas liquids, and crude oil for Anadarko, as well as third-party producers and customers.

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

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