Farther Finance Advisors LLC Grows Holdings in Western Midstream Partners, LP (NYSE:WES)

Farther Finance Advisors LLC increased its holdings in shares of Western Midstream Partners, LP (NYSE:WES) by 34.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,935 shares of the pipeline company’s stock after purchasing an additional 498 shares during the period. Farther Finance Advisors LLC’s holdings in Western Midstream Partners were worth $74,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Stifel Financial Corp boosted its stake in shares of Western Midstream Partners by 42.1% during the third quarter. Stifel Financial Corp now owns 108,367 shares of the pipeline company’s stock worth $4,146,000 after buying an additional 32,119 shares during the period. BNP Paribas Financial Markets lifted 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 worth $38,108,000 after acquiring an additional 60,603 shares during the period. Citigroup Inc. grew its stake in shares of Western Midstream Partners by 322.1% in the 3rd quarter. Citigroup Inc. now owns 406,587 shares of the pipeline company’s stock valued at $15,556,000 after purchasing an additional 310,260 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Western Midstream Partners by 60.1% in the third quarter. JPMorgan Chase & Co. now owns 1,785,105 shares of the pipeline company’s stock valued at $68,298,000 after purchasing an additional 670,440 shares during the period. Finally, Duff & Phelps Investment Management Co. raised its stake in shares of 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 worth $27,114,000 after purchasing an additional 698,683 shares during the last quarter. 84.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. StockNews.com raised shares of Western Midstream Partners from a “hold” rating to a “buy” rating in a research note on Saturday, March 8th. US Capital Advisors upgraded shares of Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $41.00 price objective on shares of Western Midstream Partners in a research report on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $38.43.

Western Midstream Partners Stock Performance

Shares of WES opened at $41.24 on Friday. The company has a market capitalization of $15.72 billion, a PE ratio of 10.52, a P/E/G ratio of 1.40 and a beta of 2.88. Western Midstream Partners, LP has a 52-week low of $33.64 and a 52-week high of $43.33. The company has a 50-day simple moving average of $40.80 and a 200-day simple moving average of $39.44. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.05.

Western Midstream Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a $0.875 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $3.50 dividend on an annualized basis and a yield of 8.49%. Western Midstream Partners’s dividend payout ratio (DPR) is presently 86.85%.

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.