Commonwealth Equity Services LLC Has $482,000 Stock Holdings in Western Midstream Partners, LP (NYSE:WES)

Commonwealth Equity Services LLC lifted its stake in shares of Western Midstream Partners, LP (NYSE:WES) by 20.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,120 shares of the pipeline company’s stock after purchasing an additional 2,065 shares during the period. Commonwealth Equity Services LLC’s holdings in Western Midstream Partners were worth $482,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of WES. Eagle Bay Advisors LLC acquired a new stake in shares of Western Midstream Partners during the first quarter worth $29,000. American National Bank lifted its stake in Western Midstream Partners by 34.5% in the 1st quarter. American National Bank now owns 1,190 shares of the pipeline company’s stock worth $42,000 after acquiring an additional 305 shares in the last quarter. Retirement Group LLC lifted its stake in Western Midstream Partners by 40.2% in the 1st quarter. Retirement Group LLC now owns 1,591 shares of the pipeline company’s stock worth $57,000 after acquiring an additional 456 shares in the last quarter. Triad Wealth Partners LLC purchased a new stake in Western Midstream Partners in the 2nd quarter worth about $78,000. Finally, Mather Group LLC. purchased a new stake in Western Midstream Partners in the 1st quarter worth about $82,000. 42.94% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WES has been the subject of several research analyst reports. Stifel Nicolaus increased their price objective on Western Midstream Partners from $39.00 to $40.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. Royal Bank of Canada raised their price target on Western Midstream Partners from $36.00 to $38.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 27th. UBS Group increased their price objective on Western Midstream Partners from $38.00 to $39.00 and gave the company a “neutral” rating in a report on Wednesday. StockNews.com lowered Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 17th. Finally, Morgan Stanley lowered Western Midstream Partners from an “overweight” rating to an “equal weight” rating and set a $42.00 target price on the stock. in a report on Monday, September 16th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $36.75.

Insider Buying and Selling at Western Midstream Partners

In other Western Midstream Partners news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of Western Midstream Partners stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total value of $697,125,000.00. Following the completion of the transaction, the insider now owns 165,681,578 shares in the company, valued at approximately $5,923,116,413.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.04% of the company’s stock.

Western Midstream Partners Price Performance

Shares of WES stock opened at $38.75 on Friday. The stock has a 50 day moving average of $39.21 and a two-hundred day moving average of $37.67. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.08. Western Midstream Partners, LP has a 12 month low of $26.14 and a 12 month high of $42.80. The company has a market capitalization of $14.74 billion, a P/E ratio of 10.92, a P/E/G ratio of 0.75 and a beta of 2.87.

Western Midstream Partners (NYSE:WES) last posted its earnings results on Wednesday, August 7th. The pipeline company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.88 by $0.09. The business had revenue of $905.63 million during the quarter, compared to the consensus estimate of $904.94 million. Western Midstream Partners had a return on equity of 47.19% and a net margin of 44.01%. Western Midstream Partners’s revenue was up 22.7% on a year-over-year basis. During the same quarter last year, the company earned $0.64 EPS. As a group, equities analysts expect that Western Midstream Partners, LP will post 4.16 EPS for the current year.

Western Midstream Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st were given a $0.875 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $3.50 annualized dividend and a yield of 9.03%. Western Midstream Partners’s payout ratio is 98.59%.

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.