Cyndeo Wealth Partners LLC Makes New Investment in Western Midstream Partners, LP (NYSE:WES)

Cyndeo Wealth Partners LLC bought a new position in shares of Western Midstream Partners, LP (NYSE:WES) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 6,573 shares of the pipeline company’s stock, valued at approximately $251,000.

A number of other large investors have also made changes to their positions in WES. Cedar Mountain Advisors LLC raised its holdings in shares of Western Midstream Partners by 16.1% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 2,158 shares of the pipeline company’s stock worth $83,000 after acquiring an additional 299 shares during the period. Bleakley Financial Group LLC raised its stake in Western Midstream Partners by 5.8% during the third quarter. Bleakley Financial Group LLC now owns 5,711 shares of the pipeline company’s stock worth $218,000 after purchasing an additional 311 shares during the period. Albert D Mason Inc. raised its stake in Western Midstream Partners by 0.7% during the second quarter. Albert D Mason Inc. now owns 48,760 shares of the pipeline company’s stock worth $1,937,000 after purchasing an additional 333 shares during the period. Belfer Management LLC boosted its holdings in Western Midstream Partners by 4.4% in the 1st quarter. Belfer Management LLC now owns 9,957 shares of the pipeline company’s stock valued at $354,000 after purchasing an additional 418 shares during the last quarter. Finally, Truist Financial Corp grew its stake in shares of Western Midstream Partners by 1.9% in the 2nd quarter. Truist Financial Corp now owns 22,508 shares of the pipeline company’s stock valued at $894,000 after buying an additional 421 shares during the period. 42.94% of the stock is currently owned by hedge funds and other institutional investors.

Western Midstream Partners Price Performance

Shares of WES opened at $38.33 on Tuesday. The firm’s 50 day moving average price is $38.59 and its 200 day moving average price is $38.29. The company has a market cap of $14.58 billion, a P/E ratio of 10.80, a PEG ratio of 0.73 and a beta of 2.87. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.08. Western Midstream Partners, LP has a fifty-two week low of $26.49 and a fifty-two week high of $42.80.

Western Midstream Partners (NYSE:WES) last announced its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.09. Western Midstream Partners had a return on equity of 47.19% and a net margin of 44.01%. The business had revenue of $905.63 million during the quarter, compared to the consensus estimate of $904.94 million. During the same period in the previous year, the company posted $0.64 earnings per share. The business’s revenue for the quarter was up 22.7% on a year-over-year basis. On average, research analysts forecast that Western Midstream Partners, LP will post 4.13 earnings per share for the current fiscal year.

Western Midstream Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Friday, November 1st will be issued a dividend of $0.875 per share. This represents a $3.50 dividend on an annualized basis and a yield of 9.13%. The ex-dividend date is Friday, November 1st. Western Midstream Partners’s dividend payout ratio (DPR) is 98.59%.

Insider Activity

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the completion of the sale, the insider now owns 165,681,578 shares in the company, valued at $5,923,116,413.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.04% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on WES. Stifel Nicolaus increased their price objective on Western Midstream Partners from $39.00 to $40.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. StockNews.com raised Western Midstream Partners from a “buy” rating to a “strong-buy” rating in a research report on Sunday. Morgan Stanley cut shares of Western Midstream Partners from an “overweight” rating to an “equal weight” rating and set a $42.00 target price on the stock. in a research report on Monday, September 16th. Royal Bank of Canada lifted their price target on shares of Western Midstream Partners from $38.00 to $41.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 16th. Finally, UBS Group upped their price objective on shares of Western Midstream Partners from $38.00 to $39.00 and gave the stock a “neutral” rating in a report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Western Midstream Partners presently has a consensus rating of “Hold” and an average target price of $38.38.

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.