JPMorgan Chase & Co. Has $68.30 Million Stock Holdings in Western Midstream Partners, LP (NYSE:WES)

JPMorgan Chase & Co. increased its holdings in Western Midstream Partners, LP (NYSE:WES) by 60.1% in the 3rd quarter, Holdings Channel reports. The fund owned 1,785,105 shares of the pipeline company’s stock after purchasing an additional 670,440 shares during the period. JPMorgan Chase & Co.’s holdings in Western Midstream Partners were worth $68,298,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of WES. Tidal Investments LLC boosted its stake in shares of Western Midstream Partners by 26.4% during the 3rd quarter. Tidal Investments LLC now owns 13,796 shares of the pipeline company’s stock valued at $528,000 after buying an additional 2,879 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Western Midstream Partners during the third quarter valued at approximately $166,000. Virtu Financial LLC bought a new stake in Western Midstream Partners in the third quarter worth approximately $409,000. M&T Bank Corp bought a new position in shares of Western Midstream Partners during the 3rd quarter valued at $765,000. Finally, Duff & Phelps Investment Management Co. raised its holdings in Western Midstream Partners by 6,986.8% during the third quarter. Duff & Phelps Investment Management Co. now owns 708,683 shares of the pipeline company’s stock valued at $27,114,000 after buying an additional 698,683 shares in the last quarter. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on WES. UBS Group decreased their target price on Western Midstream Partners from $40.00 to $37.00 and set a “neutral” rating for the company in a research report on Friday, November 15th. US Capital Advisors raised Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 26th. StockNews.com downgraded Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 28th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $41.00 price target on shares of Western Midstream Partners in a research report on Monday, December 9th. Finally, Morgan Stanley cut Western Midstream Partners from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $42.00 to $40.00 in a research 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 issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Western Midstream Partners has a consensus rating of “Hold” and a consensus target price of $37.88.

Western Midstream Partners Stock Down 0.1 %

Shares of NYSE WES opened at $39.24 on Friday. The business has a fifty day moving average of $38.55 and a two-hundred day moving average of $39.02. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.11 and a current ratio of 1.11. Western Midstream Partners, LP has a 52-week low of $27.49 and a 52-week high of $42.80. The stock has a market cap of $14.93 billion, a PE ratio of 10.01, a PEG ratio of 1.08 and a beta of 2.90.

Western Midstream Partners (NYSE:WES) last issued its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.09). Western Midstream Partners had a return on equity of 46.02% and a net margin of 42.99%. The firm had revenue of $883.36 million for the quarter, compared to the consensus estimate of $924.83 million. During the same period in the prior year, the company posted $0.70 earnings per share. Western Midstream Partners’s quarterly revenue was up 13.8% compared to the same quarter last year. As a group, equities research analysts expect that Western Midstream Partners, LP will post 4.03 earnings per share for the current fiscal year.

Western Midstream Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were issued a dividend of $0.875 per share. This represents a $3.50 dividend on an annualized basis and a yield of 8.92%. The ex-dividend date was Friday, November 1st. Western Midstream Partners’s dividend payout ratio is currently 89.29%.

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.