Western Midstream Partners, LP (NYSE:WES) Shares Purchased by Raymond James & Associates

Raymond James & Associates boosted its holdings in Western Midstream Partners, LP (NYSE:WES) by 30.2% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 103,883 shares of the pipeline company’s stock after buying an additional 24,072 shares during the quarter. Raymond James & Associates’ holdings in Western Midstream Partners were worth $4,127,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Eagle Bay Advisors LLC purchased a new position in Western Midstream Partners during the 1st quarter worth approximately $29,000. American National Bank grew its position in Western Midstream Partners by 34.5% during the 1st quarter. American National Bank now owns 1,190 shares of the pipeline company’s stock worth $42,000 after purchasing an additional 305 shares in the last quarter. Retirement Group LLC grew its position in Western Midstream Partners by 40.2% during the 1st quarter. Retirement Group LLC now owns 1,591 shares of the pipeline company’s stock worth $57,000 after purchasing an additional 456 shares in the last quarter. Triad Wealth Partners LLC purchased a new position in Western Midstream Partners during the 2nd quarter worth approximately $78,000. Finally, Mather Group LLC. purchased a new position in Western Midstream Partners during the 1st quarter worth approximately $82,000. Institutional investors and hedge funds own 42.94% of the company’s stock.

Insiders Place Their Bets

In other Western Midstream Partners news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the completion of the transaction, the insider now owns 165,681,578 shares of the company’s stock, valued at approximately $5,923,116,413.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.04% of the company’s stock.

Western Midstream Partners Stock Up 1.4 %

WES stock opened at $38.58 on Friday. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.08. Western Midstream Partners, LP has a 1 year low of $25.69 and a 1 year high of $42.80. The company has a fifty day simple moving average of $39.77 and a 200 day simple moving average of $36.92. The firm has a market cap of $14.68 billion, a PE ratio of 10.87, a PEG ratio of 0.73 and a beta of 2.90.

Western Midstream Partners (NYSE:WES) last released its earnings results on Wednesday, August 7th. The pipeline company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.09. The firm had revenue of $905.63 million during the quarter, compared to analyst estimates of $904.94 million. Western Midstream Partners had a net margin of 44.01% and a return on equity of 47.19%. The business’s revenue was up 22.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.64 EPS. Sell-side analysts anticipate that Western Midstream Partners, LP will post 4.16 EPS for the current fiscal year.

Western Midstream Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st were given a dividend of $0.875 per share. This represents a $3.50 dividend on an annualized basis and a yield of 9.07%. The ex-dividend date was Thursday, August 1st. Western Midstream Partners’s dividend payout ratio is 98.59%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on WES. StockNews.com upgraded shares of Western Midstream Partners from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 22nd. Mizuho lifted their price objective on shares of Western Midstream Partners from $34.00 to $39.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. Wells Fargo & Company lifted their target price on shares of Western Midstream Partners from $34.00 to $35.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 21st. Royal Bank of Canada lifted their target price on shares of Western Midstream Partners from $36.00 to $38.00 and gave the company a “sector perform” rating in a research note on Tuesday. Finally, Stifel Nicolaus lifted their target price on shares of Western Midstream Partners from $39.00 to $40.00 and gave the company a “hold” rating in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Western Midstream Partners has an average rating of “Hold” and an average target price of $34.38.

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.