CIBC Private Wealth Group LLC Cuts Stock Holdings in Western Midstream Partners, LP (NYSE:WES)

CIBC Private Wealth Group LLC lowered its stake in Western Midstream Partners, LP (NYSE:WES) by 3.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,024,147 shares of the pipeline company’s stock after selling 41,616 shares during the period. CIBC Private Wealth Group LLC’s holdings in Western Midstream Partners were worth $41,058,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Harbour Investments Inc. increased its stake in Western Midstream Partners by 555.6% in the 4th quarter. Harbour Investments Inc. now owns 1,180 shares of the pipeline company’s stock worth $45,000 after purchasing an additional 1,000 shares during the period. Global Retirement Partners LLC purchased a new position in shares of Western Midstream Partners in the fourth quarter worth $51,000. Empowered Funds LLC purchased a new stake in Western Midstream Partners during the 4th quarter valued at $53,000. Kieckhefer Group LLC purchased a new stake in Western Midstream Partners during the 4th quarter valued at $58,000. Finally, Farther Finance Advisors LLC grew its holdings in Western Midstream Partners by 34.7% in the 4th quarter. Farther Finance Advisors LLC now owns 1,935 shares of the pipeline company’s stock worth $74,000 after acquiring an additional 498 shares during the last quarter. Institutional investors own 84.82% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on WES. Royal Bank of Canada reissued a “sector perform” rating and issued a $41.00 target price on shares of Western Midstream Partners in a research note on Monday, December 9th. StockNews.com upgraded Western Midstream Partners from a “hold” rating to a “buy” rating in a report on Saturday, March 8th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, Western Midstream Partners currently has a consensus rating of “Hold” and an average target price of $38.43.

Western Midstream Partners Trading Up 1.1 %

WES opened at $41.49 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. Western Midstream Partners, LP has a 52 week low of $33.64 and a 52 week high of $43.33. The stock has a market cap of $15.82 billion, a PE ratio of 10.58, a PEG ratio of 1.40 and a beta of 2.88. The business has a 50 day moving average of $40.84 and a 200-day moving average of $39.57.

Western Midstream Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were given a dividend of $0.875 per share. This represents a $3.50 annualized dividend and a yield of 8.44%. The ex-dividend date was Monday, February 3rd. Western Midstream Partners’s dividend payout ratio is currently 86.85%.

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.