Raymond James Financial Inc. Takes $19.08 Million Position in Western Midstream Partners, LP (NYSE:WES)

Raymond James Financial Inc. acquired a new stake in shares of Western Midstream Partners, LP (NYSE:WES) during the 4th quarter, HoldingsChannel reports. The institutional investor acquired 496,468 shares of the pipeline company’s stock, valued at approximately $19,079,000.

Several other hedge funds have also recently modified their holdings of WES. Global Retirement Partners LLC acquired a new position in shares of Western Midstream Partners during the fourth quarter valued at about $51,000. Empowered Funds LLC acquired a new position in shares of Western Midstream Partners during the fourth quarter valued at about $53,000. Kieckhefer Group LLC acquired a new position in shares of Western Midstream Partners during the fourth quarter valued at about $58,000. Avondale Wealth Management acquired a new position in shares of Western Midstream Partners during the fourth quarter valued at about $77,000. Finally, Millburn Ridgefield Corp acquired a new position in shares of Western Midstream Partners during the third quarter valued at about $86,000. Institutional investors and hedge funds own 84.82% of the company’s stock.

Western Midstream Partners Trading Up 3.7 %

Western Midstream Partners stock opened at $41.04 on Monday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.05. Western Midstream Partners, LP has a 12 month low of $33.42 and a 12 month high of $43.33. The stock’s 50 day simple moving average is $40.61 and its two-hundred day simple moving average is $39.33. The firm has a market cap of $15.65 billion, a PE ratio of 10.47, a P/E/G ratio of 1.40 and a beta of 2.88.

Western Midstream Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were given a $0.875 dividend. The ex-dividend date was Monday, February 3rd. This represents a $3.50 annualized dividend and a yield of 8.53%. Western Midstream Partners’s dividend payout ratio is presently 86.85%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $41.00 target price on shares of Western Midstream Partners in a research report on Monday, December 9th. US Capital Advisors upgraded Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 26th. Finally, StockNews.com upgraded Western Midstream Partners from a “hold” rating to a “buy” rating in a research report on Saturday, March 8th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $38.43.

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.