First Horizon Advisors Inc. Has $57,000 Holdings in Western Midstream Partners, LP (NYSE:WES)

First Horizon Advisors Inc. trimmed its stake in Western Midstream Partners, LP (NYSE:WES) by 61.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,487 shares of the pipeline company’s stock after selling 2,395 shares during the period. First Horizon Advisors Inc.’s holdings in Western Midstream Partners were worth $57,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of WES. Caprock Group LLC bought a new stake in shares of Western Midstream Partners in the 3rd quarter valued at about $203,000. Pathstone Holdings LLC lifted its stake in shares of Western Midstream Partners by 3.2% in the third quarter. Pathstone Holdings LLC now owns 34,532 shares of the pipeline company’s stock worth $1,321,000 after acquiring an additional 1,069 shares during the period. MAI Capital Management boosted its holdings in Western Midstream Partners by 293.1% in the third quarter. MAI Capital Management now owns 29,878 shares of the pipeline company’s stock valued at $1,143,000 after acquiring an additional 22,277 shares during the last quarter. Kayne Anderson Capital Advisors LP increased its position in Western Midstream Partners by 23.5% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 6,228,448 shares of the pipeline company’s stock valued at $238,300,000 after purchasing an additional 1,184,597 shares during the period. Finally, ING Groep NV raised its holdings in Western Midstream Partners by 81.0% during the 3rd quarter. ING Groep NV now owns 746,587 shares of the pipeline company’s stock worth $28,564,000 after purchasing an additional 334,187 shares during the last quarter. 42.94% of the stock is owned by institutional investors.

Western Midstream Partners Trading Up 2.5 %

NYSE WES opened at $38.87 on Monday. Western Midstream Partners, LP has a 52 week low of $26.81 and a 52 week high of $42.80. The business has a 50 day moving average price of $38.33 and a 200-day moving average price of $38.69. 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 company has a market cap of $14.79 billion, a price-to-earnings ratio of 9.92, a P/E/G ratio of 1.04 and a beta of 2.88.

Western Midstream Partners (NYSE:WES) last released its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.09). The business had revenue of $883.36 million for the quarter, compared to analyst estimates of $924.83 million. Western Midstream Partners had a return on equity of 46.02% and a net margin of 42.99%. The business’s quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.70 EPS. As a group, equities analysts expect that Western Midstream Partners, LP will post 4.09 earnings per share for the current fiscal year.

Western Midstream Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were issued a dividend of $0.875 per share. This represents a $3.50 dividend on an annualized basis and a yield of 9.00%. The ex-dividend date was Friday, November 1st. Western Midstream Partners’s dividend payout ratio is currently 89.29%.

Analyst Ratings Changes

A number of research firms have recently commented on WES. 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. Royal Bank of Canada upped their price target on shares of Western Midstream Partners from $38.00 to $41.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 16th. StockNews.com lowered Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 28th. Bank of America started coverage on Western Midstream Partners in a research report on Thursday, October 17th. They set an “underperform” rating and a $37.00 target price on the stock. Finally, Morgan Stanley downgraded Western Midstream Partners from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $42.00 to $40.00 in a report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Western Midstream Partners has an average rating of “Hold” and an average target price of $37.88.

About Western Midstream Partners

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.