Kovitz Investment Group Partners LLC acquired a new stake in shares of Western Midstream Partners, LP (NYSE:WES - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 69,366 shares of the pipeline company's stock, valued at approximately $2,654,000.
Other hedge funds have also recently bought and sold shares of the company. Stifel Financial Corp lifted its stake in shares of Western Midstream Partners by 42.1% during the 3rd quarter. Stifel Financial Corp now owns 108,367 shares of the pipeline company's stock worth $4,146,000 after purchasing an additional 32,119 shares during the period. Recurrent Investment Advisors LLC increased its stake in Western Midstream Partners by 5.4% in the third quarter. Recurrent Investment Advisors LLC now owns 1,397,140 shares of the pipeline company's stock valued at $53,455,000 after purchasing an additional 71,210 shares during the last quarter. Millburn Ridgefield Corp purchased a new position in Western Midstream Partners during the third quarter worth about $86,000. Integrated Wealth Concepts LLC acquired a new stake in Western Midstream Partners in the 3rd quarter worth about $250,000. Finally, HighTower Advisors LLC grew its holdings in Western Midstream Partners by 14.5% in the 3rd quarter. HighTower Advisors LLC now owns 94,599 shares of the pipeline company's stock valued at $3,619,000 after buying an additional 11,974 shares during the period. Institutional investors and hedge funds own 84.82% of the company's stock.
Shares of NYSE WES opened at $39.65 on Tuesday. The company has a market capitalization of $15.09 billion, a price-to-earnings ratio of 10.11, a PEG ratio of 1.09 and a beta of 2.90. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.11 and a quick ratio of 1.11. Western Midstream Partners, LP has a 1-year low of $26.81 and a 1-year high of $42.80. The business has a 50-day moving average of $38.51 and a 200-day moving average of $38.86.
Western Midstream Partners (NYSE:WES - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $883.36 million during the quarter, compared to analyst estimates of $924.83 million. During the same period last year, the business earned $0.70 EPS. The firm's revenue was up 13.8% compared to the same quarter last year. On average, equities analysts anticipate that Western Midstream Partners, LP will post 4.05 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were issued 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 yield of 8.83%. Western Midstream Partners's dividend payout ratio is currently 89.29%.
Several research analysts have recently weighed in on WES shares. StockNews.com lowered shares of Western Midstream Partners from a "strong-buy" rating to a "buy" rating in a report on Monday, October 28th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $41.00 price target on shares of Western Midstream Partners in a report on Monday. US Capital Advisors upgraded Western Midstream Partners from a "hold" rating to a "moderate buy" rating in a report on Tuesday, November 26th. Bank of America started 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. Finally, Morgan Stanley lowered Western Midstream Partners from an "equal weight" rating to an "underweight" rating and dropped their price target for the stock from $42.00 to $40.00 in a research note on Friday, October 25th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $37.88.
View Our Latest Report on WES
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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