Western Midstream Partners, LP (NYSE:WES) Shares Bought by Cedar Mountain Advisors LLC

Cedar Mountain Advisors LLC raised its stake in Western Midstream Partners, LP (NYSE:WES) by 16.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,158 shares of the pipeline company’s stock after purchasing an additional 299 shares during the quarter. Cedar Mountain Advisors LLC’s holdings in Western Midstream Partners were worth $83,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Eagle Bay Advisors LLC purchased a new stake in Western Midstream Partners in the 1st quarter valued at approximately $29,000. American National Bank grew its holdings in Western Midstream Partners by 34.5% during the first quarter. American National Bank now owns 1,190 shares of the pipeline company’s stock worth $42,000 after acquiring an additional 305 shares during the period. Retirement Group LLC raised its position in Western Midstream Partners by 40.2% in the first quarter. Retirement Group LLC now owns 1,591 shares of the pipeline company’s stock worth $57,000 after acquiring an additional 456 shares in the last quarter. EverSource Wealth Advisors LLC acquired a new stake in Western Midstream Partners in the second quarter valued at $74,000. Finally, Triad Wealth Partners LLC purchased a new stake in shares of Western Midstream Partners during the 2nd quarter worth $78,000. Institutional investors and hedge funds own 42.94% of the company’s stock.

Western Midstream Partners Trading Down 1.1 %

NYSE:WES traded down $0.45 on Tuesday, reaching $38.99. The stock had a trading volume of 633,906 shares, compared to its average volume of 1,214,274. Western Midstream Partners, LP has a 12-month low of $26.49 and a 12-month high of $42.80. The company has a market cap of $14.84 billion, a price-to-earnings ratio of 11.10, a P/E/G ratio of 0.74 and a beta of 2.87. The firm’s fifty day moving average is $38.62 and its two-hundred day moving average is $38.19. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.68 and a quick ratio of 1.68.

Western Midstream Partners (NYSE:WES) last released its earnings results on Wednesday, August 7th. The pipeline company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.09. The firm had revenue of $905.63 million for the quarter, compared to the consensus estimate of $904.94 million. Western Midstream Partners had a return on equity of 47.19% and a net margin of 44.01%. The firm’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.64 earnings per share. Equities analysts expect that Western Midstream Partners, LP will post 4.16 EPS for the current fiscal year.

Western Midstream Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st were paid a dividend of $0.875 per share. The ex-dividend date was Thursday, August 1st. This represents a $3.50 annualized dividend and a dividend yield of 8.98%. Western Midstream Partners’s dividend payout ratio is presently 98.59%.

Insider Transactions at Western Midstream Partners

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of Western Midstream Partners stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total value of $697,125,000.00. Following the transaction, the insider now owns 165,681,578 shares in the company, valued at approximately $5,923,116,413.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WES. StockNews.com downgraded shares of Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a report on Saturday. UBS Group lifted their price target on shares of Western Midstream Partners from $38.00 to $39.00 and gave the company a “neutral” rating in a research report on Wednesday, September 18th. Morgan Stanley lowered Western Midstream Partners from an “overweight” rating to an “equal weight” rating and set a $42.00 price target on the stock. in a research note on Monday, September 16th. Stifel Nicolaus raised their price objective on Western Midstream Partners from $39.00 to $40.00 and gave the company a “hold” rating in a research note on Friday, August 9th. Finally, Royal Bank of Canada boosted their target price on Western Midstream Partners from $36.00 to $38.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 27th. One research analyst has rated the stock with a sell rating, eight 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 an average rating of “Hold” and an average target price of $36.75.

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.