Wealth Enhancement Advisory Services LLC Purchases 2,066 Shares of Western Midstream Partners, LP (NYSE:WES)

Wealth Enhancement Advisory Services LLC boosted its stake in shares of Western Midstream Partners, LP (NYSE:WES) by 6.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,788 shares of the pipeline company’s stock after buying an additional 2,066 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Western Midstream Partners were worth $1,254,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kayne Anderson Capital Advisors LP boosted its stake in Western Midstream Partners by 27.4% during the 1st quarter. Kayne Anderson Capital Advisors LP now owns 4,165,829 shares of the pipeline company’s stock valued at $148,095,000 after purchasing an additional 895,715 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Western Midstream Partners by 174.3% in the first quarter. BNP Paribas Financial Markets now owns 417,302 shares of the pipeline company’s stock worth $14,835,000 after purchasing an additional 265,143 shares during the last quarter. Blackstone Inc. increased its holdings in shares of Western Midstream Partners by 2.0% in the first quarter. Blackstone Inc. now owns 12,980,724 shares of the pipeline company’s stock worth $461,465,000 after purchasing an additional 259,928 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its stake in Western Midstream Partners by 10.1% during the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,315,472 shares of the pipeline company’s stock worth $50,330,000 after acquiring an additional 120,202 shares during the last quarter. Finally, BROOKFIELD Corp ON increased its stake in Western Midstream Partners by 2.7% during the first quarter. BROOKFIELD Corp ON now owns 2,953,510 shares of the pipeline company’s stock worth $104,997,000 after acquiring an additional 77,942 shares during the last quarter. Institutional investors own 42.94% of the company’s stock.

Analyst Upgrades and Downgrades

WES has been the topic of several analyst reports. Stifel Nicolaus boosted their price objective on Western Midstream Partners from $39.00 to $40.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. Bank of America initiated coverage on Western Midstream Partners in a report on Thursday, October 17th. They issued an “underperform” rating and a $37.00 price target for the company. Morgan Stanley lowered Western Midstream Partners from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $42.00 to $40.00 in a report on Friday, October 25th. Royal Bank of Canada boosted their price objective on shares of Western Midstream Partners from $38.00 to $41.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 16th. Finally, UBS Group boosted their price objective on shares of Western Midstream Partners from $38.00 to $39.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 18th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $38.13.

Insider Buying and Selling at Western Midstream Partners

In other Western Midstream Partners news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total value 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 $5,923,116,413.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.04% of the stock is currently owned by corporate insiders.

Western Midstream Partners Stock Up 0.3 %

WES stock opened at $36.81 on Tuesday. The company has a market cap of $14.01 billion, a price-to-earnings ratio of 9.49, a PEG ratio of 0.71 and a beta of 2.88. 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 12 month low of $26.81 and a 12 month high of $42.80. The firm has a 50-day moving average of $38.56 and a two-hundred day moving average of $38.48.

Western Midstream Partners (NYSE:WES) last announced its quarterly earnings results on Wednesday, August 7th. The pipeline company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.09. The business had revenue of $905.63 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the firm earned $0.64 EPS. As a group, analysts forecast that Western Midstream Partners, LP will post 4.14 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 given a $0.875 dividend. The ex-dividend date is Friday, November 1st. This represents a $3.50 annualized dividend and a yield of 9.51%. Western Midstream Partners’s dividend payout ratio is presently 90.21%.

About Western Midstream Partners

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.