6,527 Shares in Western Midstream Partners, LP (NYSE:WES) Bought by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC purchased a new stake in shares of Western Midstream Partners, LP (NYSE:WES) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,527 shares of the pipeline company’s stock, valued at approximately $250,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of WES. Kayne Anderson Capital Advisors LP grew its position in Western Midstream Partners by 23.5% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 6,228,448 shares of the pipeline company’s stock worth $238,300,000 after acquiring an additional 1,184,597 shares during the last quarter. Fractal Investments LLC grew its holdings in shares of Western Midstream Partners by 5.4% in the third quarter. Fractal Investments LLC now owns 1,465,706 shares of the pipeline company’s stock worth $56,078,000 after purchasing an additional 75,145 shares during the last quarter. Miller Howard Investments Inc. NY grew its holdings in shares of Western Midstream Partners by 2.8% in the second quarter. Miller Howard Investments Inc. NY now owns 1,458,530 shares of the pipeline company’s stock worth $57,947,000 after purchasing an additional 39,827 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its stake in shares of Western Midstream Partners by 10.1% in 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 buying an additional 120,202 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in Western Midstream Partners by 6.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 996,018 shares of the pipeline company’s stock valued at $38,108,000 after buying an additional 60,603 shares during the period. 84.82% of the stock is owned by institutional investors.

Western Midstream Partners Stock Performance

Shares of Western Midstream Partners stock opened at $39.76 on Friday. Western Midstream Partners, LP has a 12 month low of $27.44 and a 12 month high of $42.80. The firm has a market capitalization of $15.13 billion, a P/E ratio of 10.14, a P/E/G ratio of 1.06 and a beta of 2.90. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.05. The business has a fifty day simple moving average of $38.56 and a two-hundred day simple moving average of $38.89.

Western Midstream Partners (NYSE:WES) last issued its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.09). The business had revenue of $883.36 million for the quarter, compared to analysts’ expectations of $924.83 million. Western Midstream Partners had a net margin of 42.99% and a return on equity of 46.02%. The company’s revenue was up 13.8% on a year-over-year basis. During the same period last year, the business earned $0.70 earnings per share. On average, equities analysts forecast that Western Midstream Partners, LP will post 4.03 earnings per share for the current fiscal year.

Western Midstream Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were given a $0.875 dividend. The ex-dividend date was Friday, November 1st. This represents a $3.50 dividend on an annualized basis and a dividend yield of 8.80%. Western Midstream Partners’s dividend payout ratio is currently 89.29%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. UBS Group lowered their price objective on shares of Western Midstream Partners from $40.00 to $37.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $41.00 price target on shares of Western Midstream Partners in a research report on Monday, December 9th. Bank of America began coverage on Western Midstream Partners in a research report on Thursday, October 17th. They issued an “underperform” rating and a $37.00 price objective on the stock. StockNews.com downgraded Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, October 28th. Finally, Morgan Stanley cut shares of Western Midstream Partners from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $42.00 to $40.00 in a report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $37.88.

Western Midstream Partners 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.