Oppenheimer Asset Management Inc. lessened its stake in Western Midstream Partners, LP (NYSE:WES – Free Report) by 12.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 33,263 shares of the pipeline company’s stock after selling 4,526 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Western Midstream Partners were worth $906,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of WES. Comerica Bank acquired a new position in Western Midstream Partners in the 2nd quarter worth about $44,781,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Western Midstream Partners by 17.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,477,886 shares of the pipeline company’s stock worth $149,163,000 after purchasing an additional 802,257 shares during the period. Clearbridge Investments LLC raised its holdings in Western Midstream Partners by 14.2% in the 1st quarter. Clearbridge Investments LLC now owns 5,012,565 shares of the pipeline company’s stock worth $126,417,000 after purchasing an additional 623,000 shares during the period. Goldman Sachs Group Inc. raised its holdings in Western Midstream Partners by 6.4% in the 2nd quarter. Goldman Sachs Group Inc. now owns 8,345,798 shares of the pipeline company’s stock worth $202,887,000 after purchasing an additional 500,806 shares during the period. Finally, Bank of America Corp DE raised its holdings in Western Midstream Partners by 26.9% in the 1st quarter. Bank of America Corp DE now owns 1,748,051 shares of the pipeline company’s stock worth $46,096,000 after purchasing an additional 370,555 shares during the period. Institutional investors and hedge funds own 42.02% of the company’s stock.
Western Midstream Partners Price Performance
WES stock opened at $27.97 on Friday. The company has a debt-to-equity ratio of 2.46, a current ratio of 1.79 and a quick ratio of 1.79. The business has a 50 day simple moving average of $28.44 and a 200-day simple moving average of $27.78. The firm has a market capitalization of $10.62 billion, a PE ratio of 10.32 and a beta of 2.82. Western Midstream Partners, LP has a 1 year low of $23.79 and a 1 year high of $30.20.
Western Midstream Partners Dividend Announcement
Analyst Ratings Changes
A number of research firms recently weighed in on WES. Royal Bank of Canada upped their price target on Western Midstream Partners from $27.00 to $28.00 and gave the stock a “sector perform” rating in a report on Wednesday, November 15th. Bank of America cut Western Midstream Partners from a “buy” rating to an “underperform” rating and reduced their target price for the company from $30.00 to $27.00 in a report on Wednesday, December 13th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Western Midstream Partners presently has an average rating of “Hold” and a consensus price target of $30.08.
Western Midstream Partners 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.
- Five stocks we like better than Western Midstream Partners
- Best ESG Stocks: 11 Best Stocks for ESG Investing
- The 5 best small cap AI companies to buy now
- Election Stocks: How Elections Affect the Stock Market
- Cirrus Logic: A chip stock you’re going to hear a lot more about
- What is Forex and How Does it Work?
- Archer Aviation’s sky-high progress and short interest
Receive News & Ratings for Western Midstream Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Midstream Partners and related companies with MarketBeat.com's FREE daily email newsletter.