2,000 Shares in Western Midstream Partners, LP (NYSE:WES) Acquired by Avondale Wealth Management

Avondale Wealth Management purchased a new stake in Western Midstream Partners, LP (NYSE:WES) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 2,000 shares of the pipeline company’s stock, valued at approximately $77,000.

Several other institutional investors also recently made changes to their positions in WES. Farther Finance Advisors LLC lifted its position in Western Midstream Partners by 287.3% during the third quarter. Farther Finance Advisors LLC now owns 1,437 shares of the pipeline company’s stock valued at $55,000 after buying an additional 1,066 shares in the last quarter. EverSource Wealth Advisors LLC purchased a new position in shares of Western Midstream Partners in the 2nd quarter valued at $74,000. Cedar Mountain Advisors LLC lifted its holdings in shares of Western Midstream Partners by 16.1% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 2,158 shares of the pipeline company’s stock valued at $83,000 after acquiring an additional 299 shares in the last quarter. Millburn Ridgefield Corp purchased a new stake in Western Midstream Partners during the 3rd quarter worth $86,000. Finally, Ashton Thomas Securities LLC acquired a new stake in Western Midstream Partners in the 3rd quarter valued at $119,000. 84.82% of the stock is owned by hedge funds and other institutional investors.

Western Midstream Partners Stock Down 0.7 %

Shares of WES stock traded down $0.28 during trading hours on Friday, hitting $39.81. 132,905 shares of the company were exchanged, compared to its average volume of 838,367. The stock has a market capitalization of $15.15 billion, a price-to-earnings ratio of 10.16, a P/E/G ratio of 1.08 and a beta of 2.90. Western Midstream Partners, LP has a one year low of $27.49 and a one year high of $42.80. The business’s 50-day simple moving average is $38.73 and its two-hundred day simple moving average is $39.07. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.11 and a current ratio of 1.11.

Western Midstream Partners (NYSE:WES) last released its earnings results on Wednesday, November 6th. The pipeline company reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.09). Western Midstream Partners had a return on equity of 46.02% and a net margin of 42.99%. The firm had revenue of $883.36 million for the quarter, compared to the consensus estimate of $924.83 million. During the same period in the prior year, the business earned $0.70 EPS. The company’s quarterly revenue was up 13.8% on a year-over-year basis. Sell-side analysts predict that Western Midstream Partners, LP will post 4.03 EPS for the current fiscal year.

Western Midstream Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were paid a dividend of $0.875 per share. The ex-dividend date was Friday, November 1st. This represents a $3.50 annualized dividend and a yield of 8.79%. Western Midstream Partners’s payout ratio is 89.29%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. UBS Group decreased their target price on Western Midstream Partners from $40.00 to $37.00 and set a “neutral” rating for the company in a research report on Friday, November 15th. Royal Bank of Canada restated a “sector perform” rating and issued a $41.00 price target on shares of Western Midstream Partners in a report on Monday, December 9th. Bank of America assumed coverage on shares of Western Midstream Partners in a research note on Thursday, October 17th. They set an “underperform” rating and a $37.00 price objective on the stock. Morgan Stanley downgraded shares of Western Midstream Partners from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $42.00 to $40.00 in a research note on Friday, October 25th. Finally, StockNews.com downgraded shares of Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 28th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Western Midstream Partners has an average rating of “Hold” and an average target price of $37.88.

Western Midstream Partners Company 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.