Citizens Financial Group Inc. RI Purchases New Holdings in Western Midstream Partners, LP (NYSE:WES)

Citizens Financial Group Inc. RI purchased a new position in shares of Western Midstream Partners, LP (NYSE:WES) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 5,770 shares of the pipeline company’s stock, valued at approximately $222,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in WES. PNC Financial Services Group Inc. acquired a new position in Western Midstream Partners during the fourth quarter worth $231,000. Banco Santander S.A. increased its holdings in shares of Western Midstream Partners by 22.8% during the 4th quarter. Banco Santander S.A. now owns 19,974 shares of the pipeline company’s stock worth $768,000 after acquiring an additional 3,715 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Western Midstream Partners in the 4th quarter valued at about $19,079,000. Keybank National Association OH increased its position in Western Midstream Partners by 7.3% during the 4th quarter. Keybank National Association OH now owns 38,903 shares of the pipeline company’s stock worth $1,495,000 after buying an additional 2,660 shares during the period. Finally, NBW Capital LLC increased its holdings in shares of Western Midstream Partners by 5.2% during the fourth quarter. NBW Capital LLC now owns 301,855 shares of the pipeline company’s stock worth $11,600,000 after purchasing an additional 14,870 shares during the period. Institutional investors own 84.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on WES. UBS Group decreased 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 report on Friday, November 15th. US Capital Advisors raised Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. StockNews.com raised Western Midstream Partners from a “hold” rating to a “buy” rating in a research report on Saturday, March 8th. 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 report on Monday, December 9th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $38.43.

Western Midstream Partners Stock Performance

NYSE WES opened at $41.04 on Friday. Western Midstream Partners, LP has a fifty-two week low of $33.42 and a fifty-two week high of $43.33. The company has a market cap of $15.65 billion, a P/E ratio of 10.47, a P/E/G ratio of 1.40 and a beta of 2.88. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.11 and a current ratio of 1.11. The business’s 50 day moving average price is $40.58 and its 200-day moving average price is $39.29.

Western Midstream Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were paid a dividend of $0.875 per share. This represents a $3.50 annualized dividend and a dividend yield of 8.53%. The ex-dividend date of this dividend was Monday, February 3rd. Western Midstream Partners’s dividend payout ratio is presently 86.85%.

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.