Raymond James & Associates Has $2.93 Million Stake in Western Midstream Partners, LP (NYSE:WES)

Raymond James & Associates trimmed its position in shares of Western Midstream Partners, LP (NYSE:WES) by 26.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 76,649 shares of the pipeline company’s stock after selling 27,234 shares during the quarter. Raymond James & Associates’ holdings in Western Midstream Partners were worth $2,933,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. GSA Capital Partners LLP acquired a new position in shares of Western Midstream Partners during the first quarter worth approximately $1,967,000. BNP Paribas Financial Markets grew its holdings in Western Midstream Partners by 174.3% during the first quarter. BNP Paribas Financial Markets now owns 417,302 shares of the pipeline company’s stock worth $14,835,000 after buying an additional 265,143 shares in the last quarter. Highland Capital Management LLC bought a new stake in Western Midstream Partners during the second quarter worth $516,000. Wealth Enhancement Advisory Services LLC grew its holdings in Western Midstream Partners by 113.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 30,722 shares of the pipeline company’s stock worth $1,221,000 after buying an additional 16,304 shares in the last quarter. Finally, Summit Financial LLC bought a new stake in Western Midstream Partners during the second quarter worth $595,000. 42.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Stifel Nicolaus upped their price target on Western Midstream Partners from $39.00 to $40.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Bank of America assumed coverage on Western Midstream Partners in a report on Thursday, October 17th. They set an “underperform” rating and a $37.00 price target for the company. UBS Group upped their price target on Western Midstream Partners from $38.00 to $39.00 and gave the stock a “neutral” rating in a report on Wednesday, September 18th. StockNews.com downgraded Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 28th. Finally, Royal Bank of Canada upped their price objective on Western Midstream Partners from $38.00 to $41.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $38.13.

Western Midstream Partners Stock Up 0.3 %

WES stock opened at $36.81 on Tuesday. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.68 and a current ratio of 1.68. The company has a market capitalization of $14.01 billion, a price-to-earnings ratio of 9.49, a PEG ratio of 0.71 and a beta of 2.88. Western Midstream Partners, LP has a fifty-two week low of $26.81 and a fifty-two week high of $42.80. The stock has a fifty day moving average of $38.56 and a 200-day moving average of $38.48.

Western Midstream Partners (NYSE:WES) last posted its quarterly earnings results on Wednesday, August 7th. The pipeline company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.09. The company 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%. The firm’s quarterly revenue was up 22.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.64 EPS. As a group, equities research analysts predict that Western Midstream Partners, LP will post 4.14 earnings per share for the current year.

Western Midstream Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Friday, November 1st will be paid a dividend of $0.875 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $3.50 annualized dividend and a dividend yield of 9.51%. Western Midstream Partners’s payout ratio is 90.21%.

Insider Transactions at Western Midstream Partners

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total transaction 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.04% of the stock is owned by corporate insiders.

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.