6,527 Shares in Western Midstream Partners, LP (NYSE:WES) Acquired by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC bought a new stake in shares of Western Midstream Partners, LP (NYSE:WES) during the 3rd quarter, HoldingsChannel reports. The firm bought 6,527 shares of the pipeline company’s stock, valued at approximately $250,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Kayne Anderson Capital Advisors LP lifted its holdings in shares of Western Midstream Partners by 23.5% during the third 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 in the last quarter. Fractal Investments LLC lifted its stake in Western Midstream Partners by 5.4% during the 3rd quarter. Fractal Investments LLC now owns 1,465,706 shares of the pipeline company’s stock valued at $56,078,000 after acquiring an additional 75,145 shares during the period. Miller Howard Investments Inc. NY lifted its stake in Western Midstream Partners by 2.8% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 1,458,530 shares of the pipeline company’s stock valued at $57,947,000 after acquiring an additional 39,827 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its holdings in shares of Western Midstream Partners by 10.1% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,315,472 shares of the pipeline company’s stock valued at $50,330,000 after acquiring an additional 120,202 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of Western Midstream Partners by 6.5% in the third quarter. BNP Paribas Financial Markets now owns 996,018 shares of the pipeline company’s stock worth $38,108,000 after acquiring an additional 60,603 shares during the period. Institutional investors own 84.82% of the company’s stock.

Western Midstream Partners Stock Performance

NYSE:WES opened at $39.76 on Friday. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a 50-day simple moving average of $38.56 and a two-hundred day simple moving average of $38.89. The firm has a market capitalization of $15.13 billion, a PE ratio of 10.14, a P/E/G ratio of 1.06 and a beta of 2.90. Western Midstream Partners, LP has a 52-week low of $27.44 and a 52-week high of $42.80.

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

Western Midstream Partners Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages recently weighed in on WES. UBS Group lowered 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 report on Friday, November 15th. Bank of America started coverage on Western Midstream Partners in a report on Thursday, October 17th. They set an “underperform” rating and a $37.00 price target on the stock. Morgan Stanley lowered Western Midstream Partners from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $42.00 to $40.00 in a report on Friday, October 25th. StockNews.com downgraded Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, October 28th. Finally, US Capital Advisors upgraded Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Two investment 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $37.88.

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.