Axxcess Wealth Management LLC Purchases 3,174 Shares of Western Midstream Partners, LP (NYSE:WES)

Axxcess Wealth Management LLC grew its holdings in Western Midstream Partners, LP (NYSE:WES) by 26.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,300 shares of the pipeline company’s stock after purchasing an additional 3,174 shares during the period. Axxcess Wealth Management LLC’s holdings in Western Midstream Partners were worth $448,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Larson Financial Group LLC acquired a new stake in Western Midstream Partners in the third quarter valued at $27,000. Fortitude Family Office LLC bought a new stake in shares of Western Midstream Partners in the 4th quarter valued at about $43,000. UMB Bank n.a. acquired a new stake in Western Midstream Partners in the 4th quarter valued at about $74,000. Turtle Creek Wealth Advisors LLC bought a new position in Western Midstream Partners during the fourth quarter worth about $80,000. Finally, CENTRAL TRUST Co increased its position in Western Midstream Partners by 518.4% during the fourth quarter. CENTRAL TRUST Co now owns 4,205 shares of the pipeline company’s stock worth $123,000 after buying an additional 3,525 shares during the last quarter. 42.94% of the stock is owned by institutional investors.

Western Midstream Partners Stock Performance

WES opened at $35.50 on Thursday. Western Midstream Partners, LP has a 52-week low of $25.04 and a 52-week high of $36.79. The business’s fifty day moving average is $34.96 and its 200-day moving average is $30.86. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.76 and a current ratio of 0.76. The firm has a market cap of $13.51 billion, a P/E ratio of 13.65 and a beta of 2.82.

Western Midstream Partners (NYSE:WES) last announced its quarterly earnings data on Wednesday, February 21st. The pipeline company reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.04). The firm had revenue of $858.21 million during the quarter, compared to the consensus estimate of $850.23 million. Western Midstream Partners had a net margin of 32.72% and a return on equity of 33.58%. The business’s revenue was up 10.1% compared to the same quarter last year. During the same period last year, the business earned $0.85 earnings per share. Sell-side analysts expect that Western Midstream Partners, LP will post 3.42 EPS for the current fiscal year.

Western Midstream Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be given a $0.875 dividend. This represents a $3.50 dividend on an annualized basis and a yield of 9.86%. The ex-dividend date of this dividend is Tuesday, April 30th. This is a boost from Western Midstream Partners’s previous quarterly dividend of $0.58. Western Midstream Partners’s payout ratio is currently 134.62%.

Analyst Ratings Changes

A number of research firms have recently issued reports on WES. Citigroup cut Western Midstream Partners from a “buy” rating to a “neutral” rating and raised their price objective for the company from $30.00 to $34.00 in a research report on Thursday, February 29th. Stifel Nicolaus lifted their price objective on shares of Western Midstream Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Raymond James reissued a “market perform” rating on shares of Western Midstream Partners in a research report on Tuesday, March 19th. Mizuho upped their price target on shares of Western Midstream Partners from $34.00 to $39.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Wolfe Research upgraded shares of Western Midstream Partners from an “underperform” rating to a “peer perform” rating in a research report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Western Midstream Partners has an average rating of “Hold” and an average price target of $31.09.

Insiders Place Their Bets

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

Western Midstream Partners Company 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.