Wealth Enhancement Advisory Services LLC Buys 3,050 Shares of Western Midstream Partners, LP (NYSE:WES)

Wealth Enhancement Advisory Services LLC increased its stake in shares of Western Midstream Partners, LP (NYSE:WESFree Report) by 9.3% in the 4th quarter, Holdings Channel reports. The firm owned 35,838 shares of the pipeline company’s stock after buying an additional 3,050 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Western Midstream Partners were worth $1,371,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Avondale Wealth Management bought a new position in shares of Western Midstream Partners during the 4th quarter valued at $77,000. Chickasaw Capital Management LLC lifted its holdings in Western Midstream Partners by 1.5% in the fourth quarter. Chickasaw Capital Management LLC now owns 6,755,387 shares of the pipeline company’s stock valued at $259,610,000 after acquiring an additional 99,518 shares during the period. JPMorgan Chase & Co. boosted its position in Western Midstream Partners by 60.1% in the third quarter. JPMorgan Chase & Co. now owns 1,785,105 shares of the pipeline company’s stock worth $68,298,000 after purchasing an additional 670,440 shares during the last quarter. Tidal Investments LLC grew its stake in shares of Western Midstream Partners by 26.4% during the 3rd quarter. Tidal Investments LLC now owns 13,796 shares of the pipeline company’s stock valued at $528,000 after purchasing an additional 2,879 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Western Midstream Partners in the 3rd quarter worth approximately $166,000. Institutional investors own 84.82% of the company’s stock.

Western Midstream Partners Price Performance

Shares of NYSE:WES opened at $41.18 on Thursday. 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 firm has a market cap of $15.67 billion, a price-to-earnings ratio of 10.51, a P/E/G ratio of 1.08 and a beta of 2.90. The firm has a fifty day moving average price of $38.96 and a 200 day moving average price of $39.09. Western Midstream Partners, LP has a fifty-two week low of $27.49 and a fifty-two week high of $42.80.

Western Midstream Partners (NYSE:WESGet Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.09). The firm had revenue of $883.36 million for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.70 EPS. As a group, sell-side analysts expect that Western Midstream Partners, LP will post 4.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $41.00 target price on shares of Western Midstream Partners in a research report on Monday, December 9th. Bank of America initiated coverage on Western Midstream Partners in a report on Thursday, October 17th. They issued an “underperform” rating and a $37.00 target price on the stock. Morgan Stanley lowered Western Midstream Partners from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $42.00 to $40.00 in a report on Friday, October 25th. UBS Group decreased their price objective on 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. 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 issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $37.88.

Check Out Our Latest Research Report on WES

Western Midstream Partners Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Western Midstream Partners (NYSE:WES)

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