Raymond James Financial Services Advisors Inc. Grows Position in Western Midstream Partners, LP (NYSE:WES)

Raymond James Financial Services Advisors Inc. boosted its stake in Western Midstream Partners, LP (NYSE:WESFree Report) by 6.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 379,329 shares of the pipeline company’s stock after buying an additional 21,417 shares during the period. Raymond James Financial Services Advisors Inc. owned approximately 0.10% of Western Midstream Partners worth $11,099,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of WES. Alps Advisors Inc. raised its holdings in shares of Western Midstream Partners by 13.0% in the 3rd quarter. Alps Advisors Inc. now owns 33,519,544 shares of the pipeline company’s stock valued at $912,737,000 after buying an additional 3,855,558 shares during the period. Invesco Ltd. lifted its position in shares of Western Midstream Partners by 13.8% during the third quarter. Invesco Ltd. now owns 20,746,835 shares of the pipeline company’s stock worth $564,936,000 after purchasing an additional 2,520,712 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Western Midstream Partners by 6.4% in the second quarter. Goldman Sachs Group Inc. now owns 8,345,798 shares of the pipeline company’s stock valued at $202,887,000 after purchasing an additional 500,806 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Western Midstream Partners by 17.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,477,886 shares of the pipeline company’s stock valued at $149,163,000 after purchasing an additional 802,257 shares in the last quarter. Finally, Clearbridge Investments LLC grew its holdings in shares of 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 valued at $126,417,000 after purchasing an additional 623,000 shares in the last quarter. Institutional investors and hedge funds own 42.94% of the company’s stock.

Insider Activity at Western Midstream Partners

In related news, Director Lisa A. Stewart acquired 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were purchased at an average price of $34.87 per share, with a total value of $87,175.00. Following the completion of the acquisition, the director now owns 30,730 shares in the company, valued at $1,071,555.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Kenneth F. Owen purchased 7,000 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was bought at an average cost of $33.96 per share, with a total value of $237,720.00. Following the completion of the acquisition, the director now directly owns 32,730 shares in the company, valued at approximately $1,111,510.80. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Lisa A. Stewart bought 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was purchased at an average cost of $34.87 per share, with a total value of $87,175.00. Following the purchase, the director now directly owns 30,730 shares in the company, valued at approximately $1,071,555.10. The disclosure for this purchase can be found here. Company insiders own 0.04% of the company’s stock.

Analyst Upgrades and Downgrades

WES has been the subject of several recent research reports. Raymond James reissued a “market perform” rating on shares of Western Midstream Partners in a research report on Tuesday, March 19th. Bank of America cut Western Midstream Partners from a “buy” rating to an “underperform” rating and lowered their target price for the stock from $30.00 to $27.00 in a research note on Wednesday, December 13th. Stifel Nicolaus increased their price target on Western Midstream Partners from $35.00 to $36.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Finally, Citigroup downgraded Western Midstream Partners from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $30.00 to $34.00 in a research report on Thursday, February 29th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Western Midstream Partners has an average rating of “Hold” and an average price target of $30.75.

Get Our Latest Stock Analysis on WES

Western Midstream Partners Trading Up 1.2 %

NYSE WES opened at $35.55 on Monday. The firm’s fifty day moving average price is $31.81 and its 200 day moving average price is $29.24. The company has a debt-to-equity ratio of 2.40, a current ratio of 0.76 and a quick ratio of 0.76. Western Midstream Partners, LP has a 12 month low of $24.89 and a 12 month high of $35.93. The company has a market capitalization of $13.53 billion, a price-to-earnings ratio of 13.67 and a beta of 2.83.

Western Midstream Partners (NYSE:WESGet Free Report) last posted its quarterly earnings data on Wednesday, February 21st. The pipeline company reported $0.74 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.04). Western Midstream Partners had a net margin of 32.72% and a return on equity of 33.58%. The company had revenue of $858.21 million for the quarter, compared to analysts’ expectations of $850.23 million. During the same period in the prior year, the company earned $0.85 earnings per share. The firm’s revenue was up 10.1% on a year-over-year basis. On average, sell-side analysts expect that Western Midstream Partners, LP will post 3.44 earnings per share for the current fiscal year.

Western Midstream Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 13th. Investors of record on Thursday, February 1st were given a $0.575 dividend. The ex-dividend date was Wednesday, January 31st. This represents a $2.30 dividend on an annualized basis and a yield of 6.47%. Western Midstream Partners’s payout ratio is currently 88.46%.

About Western Midstream Partners

(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.

See Also

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

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