J.P. Morgan Private Wealth Advisors LLC Sells 13,920 Shares of Western Midstream Partners, LP (NYSE:WES)

J.P. Morgan Private Wealth Advisors LLC lessened its holdings in shares of Western Midstream Partners, LP (NYSE:WESFree Report) by 27.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,270 shares of the pipeline company’s stock after selling 13,920 shares during the quarter. J.P. Morgan Private Wealth Advisors LLC’s holdings in Western Midstream Partners were worth $988,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Larson Financial Group LLC purchased a new position in shares of Western Midstream Partners during the 3rd quarter worth $27,000. Tower Research Capital LLC TRC purchased a new position in shares of Western Midstream Partners during the 1st quarter worth $27,000. Retirement Group LLC raised its position in shares of Western Midstream Partners by 52.4% during the 2nd quarter. Retirement Group LLC now owns 1,105 shares of the pipeline company’s stock valued at $29,000 after purchasing an additional 380 shares during the period. Ronald Blue Trust Inc. bought a new stake in shares of Western Midstream Partners during the 3rd quarter valued at $32,000. Finally, Money Concepts Capital Corp bought a new stake in shares of Western Midstream Partners during the 4th quarter valued at $46,000. Hedge funds and other institutional investors own 42.02% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Royal Bank of Canada raised their price objective on shares of Western Midstream Partners from $27.00 to $28.00 and gave the company a “sector perform” rating in a research report on Wednesday, November 15th. Bank of America downgraded shares of Western Midstream Partners from a “buy” rating to an “underperform” rating and decreased their price objective for the company from $30.00 to $27.00 in a research report on Wednesday, December 13th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Western Midstream Partners currently has a consensus rating of “Hold” and an average target price of $30.08.

Read Our Latest Report on Western Midstream Partners

Western Midstream Partners Stock Performance

Shares of NYSE WES opened at $28.49 on Tuesday. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.79 and a current ratio of 1.79. The company has a market cap of $10.81 billion, a P/E ratio of 10.51 and a beta of 2.82. The firm’s fifty day moving average is $28.38 and its two-hundred day moving average is $27.77. Western Midstream Partners, LP has a 52-week low of $23.79 and a 52-week high of $30.20.

Western Midstream Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 13th. Shareholders of record on Thursday, February 1st will be paid a $0.575 dividend. The ex-dividend date of this dividend is Wednesday, January 31st. This represents a $2.30 dividend on an annualized basis and a dividend yield of 8.07%. Western Midstream Partners’s payout ratio is currently 84.87%.

Western Midstream Partners Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Western Midstream Partners (NYSE:WES)

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