Avondale Wealth Management Buys Shares of 2,000 Western Midstream Partners, LP (NYSE:WES)

Avondale Wealth Management purchased a new position in shares of Western Midstream Partners, LP (NYSE:WES) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,000 shares of the pipeline company’s stock, valued at approximately $77,000.

Several other hedge funds have also made changes to their positions in WES. Commonwealth Equity Services LLC grew its stake in Western Midstream Partners by 20.5% during the 2nd quarter. Commonwealth Equity Services LLC now owns 12,120 shares of the pipeline company’s stock worth $482,000 after buying an additional 2,065 shares during the last quarter. Choreo LLC bought a new position in shares of Western Midstream Partners during the second quarter worth about $384,000. Westover Capital Advisors LLC acquired a new stake in shares of Western Midstream Partners in the 2nd quarter worth about $306,000. Pekin Hardy Strauss Inc. bought a new stake in Western Midstream Partners in the 2nd quarter valued at about $1,812,000. Finally, Bradley Foster & Sargent Inc. CT acquired a new position in Western Midstream Partners during the 2nd quarter valued at about $212,000. Institutional investors own 84.82% of the company’s stock.

Western Midstream Partners Price Performance

Shares of NYSE WES traded down $0.28 during midday trading on Friday, reaching $39.81. The company’s stock had a trading volume of 132,905 shares, compared to its average volume of 838,367. Western Midstream Partners, LP has a one year low of $27.49 and a one year high of $42.80. The company has a market cap of $15.15 billion, a price-to-earnings ratio of 10.16, a price-to-earnings-growth ratio of 1.08 and a beta of 2.90. The company has a 50 day moving average price of $38.73 and a 200 day moving average price of $39.07. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.05.

Western Midstream Partners (NYSE:WES) last announced its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.09). The company had revenue of $883.36 million for the quarter, compared to analyst estimates of $924.83 million. Western Midstream Partners had a net margin of 42.99% and a return on equity of 46.02%. Western Midstream Partners’s revenue was up 13.8% on a year-over-year basis. During the same quarter last year, the company posted $0.70 EPS. On average, equities research analysts expect that Western Midstream Partners, LP will post 4.03 EPS for the current year.

Western Midstream Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were given a $0.875 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.50 dividend on an annualized basis and a dividend yield of 8.79%. Western Midstream Partners’s dividend payout ratio (DPR) is 89.29%.

Analyst Ratings Changes

WES has been the topic of several analyst reports. Morgan Stanley lowered shares of Western Midstream Partners from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $42.00 to $40.00 in a research note on Friday, October 25th. UBS Group cut their target price on Western Midstream Partners from $40.00 to $37.00 and set a “neutral” rating on the stock in a research note on Friday, November 15th. Royal Bank of Canada reissued a “sector perform” rating and issued a $41.00 price target on shares of Western Midstream Partners in a research note on Monday, December 9th. US Capital Advisors upgraded shares of Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Finally, Bank of America started coverage on shares of Western Midstream Partners in a report on Thursday, October 17th. They issued an “underperform” rating and a $37.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $37.88.

Western Midstream Partners 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.