Stifel Financial Corp Purchases 32,119 Shares of Western Midstream Partners, LP (NYSE:WES)

Stifel Financial Corp raised its position in Western Midstream Partners, LP (NYSE:WES) by 42.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,367 shares of the pipeline company’s stock after buying an additional 32,119 shares during the quarter. Stifel Financial Corp’s holdings in Western Midstream Partners were worth $4,146,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC grew its stake in shares of Western Midstream Partners by 113.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 30,722 shares of the pipeline company’s stock valued at $1,221,000 after acquiring an additional 16,304 shares in the last quarter. Raymond James & Associates raised its stake in Western Midstream Partners by 30.2% in the 2nd quarter. Raymond James & Associates now owns 103,883 shares of the pipeline company’s stock worth $4,127,000 after purchasing an additional 24,072 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in Western Midstream Partners by 3.3% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 399,221 shares of the pipeline company’s stock valued at $15,861,000 after purchasing an additional 12,704 shares during the period. Prossimo Advisors LLC acquired a new position in shares of Western Midstream Partners during the 2nd quarter worth approximately $242,000. Finally, Highland Capital Management LLC bought a new position in shares of Western Midstream Partners during the second quarter worth approximately $516,000. Institutional investors own 84.82% of the company’s stock.

Western Midstream Partners Stock Performance

NYSE:WES opened at $39.76 on Monday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.05. The firm has a market capitalization of $15.13 billion, a PE ratio of 10.14, a price-to-earnings-growth ratio of 1.08 and a beta of 2.90. Western Midstream Partners, LP has a twelve month low of $27.44 and a twelve month high of $42.80. The stock’s 50-day simple moving average is $38.56 and its 200 day simple moving average is $38.91.

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

Western Midstream Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were issued a dividend of $0.875 per share. The ex-dividend date was Friday, November 1st. This represents a $3.50 annualized dividend and a dividend yield of 8.80%. Western Midstream Partners’s dividend payout ratio (DPR) is presently 89.29%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on WES shares. US Capital Advisors upgraded Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Bank of America assumed coverage on Western Midstream Partners in a report on Thursday, October 17th. They issued an “underperform” rating and a $37.00 price objective for the company. StockNews.com lowered Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a report 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 note on Monday, December 9th. Finally, UBS Group reduced their price objective on shares of Western Midstream Partners from $40.00 to $37.00 and set a “neutral” rating on the stock in a research note on Friday, November 15th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $37.88.

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.