PFG Investments LLC Increases Holdings in Western Midstream Partners, LP (NYSE:WES)

PFG Investments LLC boosted its holdings in shares of Western Midstream Partners, LP (NYSE:WES) by 1.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 33,424 shares of the pipeline company’s stock after purchasing an additional 540 shares during the quarter. PFG Investments LLC’s holdings in Western Midstream Partners were worth $1,284,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in WES. Curated Wealth Partners LLC purchased a new stake in shares of Western Midstream Partners in the fourth quarter worth about $246,000. Mutual Advisors LLC increased its position in Western Midstream Partners by 10.5% in the fourth quarter. Mutual Advisors LLC now owns 6,060 shares of the pipeline company’s stock worth $247,000 after purchasing an additional 577 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in Western Midstream Partners during the fourth quarter valued at $1,033,000. Daymark Wealth Partners LLC grew its stake in shares of Western Midstream Partners by 27.7% in the 4th quarter. Daymark Wealth Partners LLC now owns 41,901 shares of the pipeline company’s stock worth $1,610,000 after buying an additional 9,094 shares in the last quarter. Finally, Howard Financial Services LTD. purchased a new stake in shares of Western Midstream Partners during the 4th quarter valued at about $384,000. 84.82% of the stock is currently owned by institutional investors.

Western Midstream Partners Stock Down 2.4 %

WES stock opened at $41.34 on Tuesday. The company has a market capitalization of $15.73 billion, a P/E ratio of 10.55, a price-to-earnings-growth ratio of 1.41 and a beta of 2.90. Western Midstream Partners, LP has a 12 month low of $27.84 and a 12 month high of $43.33. The firm’s fifty day simple moving average is $39.73 and its 200-day simple moving average is $39.12. 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 (NYSE:WES) last posted its earnings results on Wednesday, November 6th. The pipeline company reported $0.74 EPS for the quarter, missing the consensus estimate 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 company had revenue of $883.36 million for the quarter, compared to analyst estimates of $924.83 million. During the same period last year, the business earned $0.70 earnings per share. The firm’s revenue was up 13.8% on a year-over-year basis. As a group, equities research analysts forecast that Western Midstream Partners, LP will post 4.03 earnings per share for the current year.

Western Midstream Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be given a dividend of $0.875 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $3.50 dividend on an annualized basis and a yield of 8.47%. Western Midstream Partners’s payout ratio is 89.29%.

Analyst Upgrades and Downgrades

WES has been the topic of several recent research reports. US Capital Advisors upgraded Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 26th. StockNews.com lowered Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 28th. UBS Group decreased their price target on Western Midstream Partners from $40.00 to $37.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. Bank of America initiated coverage on Western Midstream Partners in a research note on Thursday, October 17th. They issued an “underperform” rating and a $37.00 target price on the stock. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $41.00 target price on shares of Western Midstream Partners in a research note on Monday, December 9th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Western Midstream Partners presently has an average rating of “Hold” and an average target price of $37.88.

About Western Midstream Partners

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.