Advisor Group Holdings Inc. Invests $67,000 in Western Midstream Partners LP (NYSE:WES)

Advisor Group Holdings Inc. acquired a new position in shares of Western Midstream Partners LP (NYSE:WES) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 20,679 shares of the pipeline company’s stock, valued at approximately $67,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WES. Sunbelt Securities Inc. purchased a new stake in shares of Western Midstream Partners in the fourth quarter valued at $12,306,000. Jane Street Group LLC lifted its holdings in shares of Western Midstream Partners by 3.7% in the first quarter. Jane Street Group LLC now owns 94,048 shares of the pipeline company’s stock valued at $305,000 after purchasing an additional 3,329 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Western Midstream Partners by 73.0% in the first quarter. Pacer Advisors Inc. now owns 8,295 shares of the pipeline company’s stock valued at $48,000 after purchasing an additional 3,499 shares in the last quarter. US Bancorp DE lifted its holdings in shares of Western Midstream Partners by 33.6% in the first quarter. US Bancorp DE now owns 19,715 shares of the pipeline company’s stock valued at $64,000 after purchasing an additional 4,955 shares in the last quarter. Finally, Baldwin Brothers Inc. MA lifted its holdings in shares of Western Midstream Partners by 50.4% in the first quarter. Baldwin Brothers Inc. MA now owns 14,913 shares of the pipeline company’s stock valued at $48,000 after purchasing an additional 5,000 shares in the last quarter. 36.96% of the stock is owned by institutional investors and hedge funds.

WES has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Western Midstream Partners from a “sell” rating to a “hold” rating in a report on Friday, June 19th. Credit Suisse Group increased their price objective on Western Midstream Partners from $6.50 to $7.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Mizuho cut their price objective on Western Midstream Partners from $23.00 to $12.00 in a report on Tuesday, May 5th. UBS Group lowered Western Midstream Partners from a “buy” rating to a “neutral” rating and set a $7.50 price objective for the company. in a report on Monday, May 4th. Finally, Wells Fargo & Co increased their price objective on Western Midstream Partners from $7.00 to $10.00 and gave the stock an “underweight” rating in a report on Wednesday, July 22nd. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $17.88.

Western Midstream Partners stock opened at $9.00 on Friday. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.09 and a quick ratio of 1.09. The company has a market capitalization of $4.00 billion, a price-to-earnings ratio of 13.04 and a beta of 3.96. Western Midstream Partners LP has a one year low of $2.90 and a one year high of $28.56. The company’s fifty day moving average price is $10.20 and its two-hundred day moving average price is $10.47.

Western Midstream Partners (NYSE:WES) last posted its earnings results on Tuesday, May 5th. The pipeline company reported ($0.58) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($1.08). The business had revenue of $774.30 million for the quarter, compared to analyst estimates of $709.78 million. Western Midstream Partners had a return on equity of 28.50% and a net margin of 11.48%. The company’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.30 earnings per share. As a group, sell-side analysts anticipate that Western Midstream Partners LP will post 1.67 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Friday, July 31st will be given a $0.311 dividend. This represents a $1.24 annualized dividend and a dividend yield of 13.82%. The ex-dividend date is Thursday, July 30th. Western Midstream Partners’s dividend payout ratio is currently 77.99%.

Western Midstream Partners Company Profile

Western Midstream Partners, LP, together with its subsidiaries, engages in gathering, processing, compressing, treating, stabilizing, and transporting natural gas, condensate, natural gas liquids, and crude oil primarily in the United States. It is also involved in the gathering and disposing of produced water; and buying and selling of natural gas.

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

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