Western Midstream Partners, LP (NYSE:WES) Position Boosted by MAI Capital Management

MAI Capital Management grew its holdings in shares of Western Midstream Partners, LP (NYSE:WES) by 293.1% in the third quarter, according to its most recent filing with the SEC. The firm owned 29,878 shares of the pipeline company’s stock after acquiring an additional 22,277 shares during the quarter. MAI Capital Management’s holdings in Western Midstream Partners were worth $1,143,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of WES. Farther Finance Advisors LLC raised its holdings 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 worth $55,000 after purchasing an additional 1,066 shares in the last quarter. EverSource Wealth Advisors LLC bought a new stake in shares of Western Midstream Partners during the 2nd quarter worth $74,000. Triad Wealth Partners LLC acquired a new stake in shares of Western Midstream Partners during the second quarter worth $78,000. Cedar Mountain Advisors LLC boosted its position in shares of Western Midstream Partners by 16.1% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 2,158 shares of the pipeline company’s stock valued at $83,000 after purchasing an additional 299 shares during the period. Finally, Farmers & Merchants Investments Inc. increased its stake in Western Midstream Partners by 63.9% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 2,566 shares of the pipeline company’s stock worth $102,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors own 42.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. UBS Group dropped their target price on shares of Western Midstream Partners from $40.00 to $37.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Bank of America began coverage on Western Midstream Partners in a research note on Thursday, October 17th. They issued an “underperform” rating and a $37.00 price objective for the company. Morgan Stanley cut shares of Western Midstream Partners from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $42.00 to $40.00 in a report on Friday, October 25th. StockNews.com downgraded Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, October 28th. Finally, Stifel Nicolaus lifted their price objective on shares of Western Midstream Partners from $39.00 to $40.00 and gave the company a “hold” rating in a research note on Friday, August 9th. Two investment 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $37.88.

Western Midstream Partners Price Performance

Shares of NYSE:WES opened at $37.88 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.05. The business has a 50 day moving average price of $38.36 and a 200 day moving average price of $38.63. The company has a market cap of $14.42 billion, a price-to-earnings ratio of 9.68, a PEG ratio of 0.72 and a beta of 2.88. Western Midstream Partners, LP has a twelve month low of $26.81 and a twelve month high of $42.80.

Western Midstream Partners (NYSE:WES) last issued its quarterly earnings results 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). The firm had revenue of $883.36 million for the quarter, compared to the consensus estimate of $924.83 million. Western Midstream Partners had a net margin of 42.99% and a return on equity of 46.02%. The company’s revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.70 earnings per share. Research analysts predict that Western Midstream Partners, LP will post 4.11 earnings per share for the current year.

Western Midstream Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were issued a dividend of $0.875 per share. This represents a $3.50 dividend on an annualized basis and a yield of 9.24%. The ex-dividend date was Friday, November 1st. Western Midstream Partners’s payout ratio is 89.29%.

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.