Whittier Trust Co. of Nevada Inc. Makes New Investment in Western Midstream Partners, LP (NYSE:WES)

Whittier Trust Co. of Nevada Inc. bought a new position in Western Midstream Partners, LP (NYSE:WES) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 30,500 shares of the pipeline company’s stock, valued at approximately $1,172,000.

Several other institutional investors and hedge funds have also bought and sold shares of WES. Harbour Investments Inc. boosted its position in Western Midstream Partners by 555.6% in the fourth quarter. Harbour Investments Inc. now owns 1,180 shares of the pipeline company’s stock worth $45,000 after purchasing an additional 1,000 shares during the last quarter. Global Retirement Partners LLC bought a new position in shares of Western Midstream Partners in the fourth quarter worth about $51,000. Empowered Funds LLC bought a new position in shares of Western Midstream Partners in the fourth quarter worth about $53,000. Kieckhefer Group LLC bought a new position in shares of Western Midstream Partners in the fourth quarter worth about $58,000. Finally, Farther Finance Advisors LLC raised its stake in shares of Western Midstream Partners by 34.7% in the fourth quarter. Farther Finance Advisors LLC now owns 1,935 shares of the pipeline company’s stock worth $74,000 after buying an additional 498 shares during the period. 84.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on WES. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $41.00 price objective on shares of Western Midstream Partners in a research note on Monday, December 9th. US Capital Advisors raised Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Finally, StockNews.com raised Western Midstream Partners from a “hold” rating to a “buy” rating in a research note on Saturday, March 8th. Two analysts have rated the stock with a sell rating, five 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 $38.43.

Western Midstream Partners Stock Performance

NYSE:WES opened at $41.24 on Friday. 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, LP has a 1 year low of $33.64 and a 1 year high of $43.33. The stock’s 50 day simple moving average is $40.80 and its two-hundred day simple moving average is $39.44. The company has a market cap of $15.72 billion, a price-to-earnings ratio of 10.52, a PEG ratio of 1.40 and a beta of 2.88.

Western Midstream Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were paid a $0.875 dividend. This represents a $3.50 dividend on an annualized basis and a yield of 8.49%. The ex-dividend date of this dividend was Monday, February 3rd. Western Midstream Partners’s payout ratio is 86.85%.

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.