Corient Private Wealth LLC Purchases 1,337 Shares of Western Midstream Partners, LP (NYSE:WES)

Corient Private Wealth LLC grew its position in shares of Western Midstream Partners, LP (NYSE:WES) by 5.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,478 shares of the pipeline company’s stock after acquiring an additional 1,337 shares during the quarter. Corient Private Wealth LLC’s holdings in Western Midstream Partners were worth $941,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Commonwealth Equity Services LLC boosted its holdings in Western Midstream Partners by 50.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 21,353 shares of the pipeline company’s stock worth $821,000 after purchasing an additional 7,155 shares during the last quarter. Farther Finance Advisors LLC lifted its position in Western Midstream Partners by 34.7% during the 4th quarter. Farther Finance Advisors LLC now owns 1,935 shares of the pipeline company’s stock worth $74,000 after buying an additional 498 shares in the last quarter. HighTower Advisors LLC boosted its stake in shares of Western Midstream Partners by 3.6% during the 4th quarter. HighTower Advisors LLC now owns 98,008 shares of the pipeline company’s stock worth $3,766,000 after buying an additional 3,409 shares during the last quarter. Citizens Financial Group Inc. RI bought a new position in shares of Western Midstream Partners in the 4th quarter valued at about $222,000. Finally, PNC Financial Services Group Inc. bought a new position in shares of Western Midstream Partners in the 4th quarter valued at about $231,000. 84.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on WES. StockNews.com raised Western Midstream Partners from a “hold” rating to a “buy” rating in a research report on Saturday, March 8th. Royal Bank of Canada reissued a “sector perform” rating and issued a $41.00 price objective on shares of Western Midstream Partners in a report on Monday, December 9th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Western Midstream Partners has a consensus rating of “Hold” and an average price target of $38.43.

Western Midstream Partners Trading Down 0.9 %

Shares of Western Midstream Partners stock opened at $40.99 on Friday. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.11 and a quick ratio of 1.11. The business has a fifty day simple moving average of $40.84 and a two-hundred day simple moving average of $39.53. Western Midstream Partners, LP has a 1 year low of $33.64 and a 1 year high of $43.33. The company has a market capitalization of $15.63 billion, a price-to-earnings ratio of 10.46, a P/E/G ratio of 1.40 and a beta of 2.88.

Western Midstream Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were issued a dividend of $0.875 per share. This represents a $3.50 annualized dividend and a dividend yield of 8.54%. The ex-dividend date was Monday, February 3rd. Western Midstream Partners’s payout ratio is 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.