Oppenheimer Asset Management Inc. Sells 4,526 Shares of Western Midstream Partners, LP (NYSE:WES)

Oppenheimer Asset Management Inc. lessened its stake in Western Midstream Partners, LP (NYSE:WESFree 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

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 13th. Stockholders of record on Thursday, February 1st will be given a $0.575 dividend. The ex-dividend date is Wednesday, January 31st. This represents a $2.30 dividend on an annualized basis and a dividend yield of 8.22%. Western Midstream Partners’s dividend payout ratio (DPR) is presently 84.87%.

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.

View Our Latest Analysis on WES

Western Midstream Partners Profile

(Free Report)

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.

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

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