Cary Street Partners Financial LLC Purchases Shares of 1,017 Western Midstream Partners, LP (NYSE:WES)

Cary Street Partners Financial LLC acquired a new position in shares of Western Midstream Partners, LP (NYSE:WES) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,017 shares of the pipeline company’s stock, valued at approximately $39,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in WES. Harbour Investments Inc. boosted its holdings in Western Midstream Partners by 555.6% during the fourth quarter. Harbour Investments Inc. now owns 1,180 shares of the pipeline company’s stock worth $45,000 after buying an additional 1,000 shares in the last quarter. Global Retirement Partners LLC acquired a new position in shares of Western Midstream Partners in the fourth quarter worth about $51,000. Empowered Funds LLC purchased a new stake in shares of Western Midstream Partners during the 4th quarter worth about $53,000. Kieckhefer Group LLC purchased a new stake in shares of Western Midstream Partners during the 4th quarter worth about $58,000. Finally, Farther Finance Advisors LLC grew its position in shares of Western Midstream Partners by 34.7% during the 4th quarter. Farther Finance Advisors LLC now owns 1,935 shares of the pipeline company’s stock valued at $74,000 after acquiring an additional 498 shares during the period. Institutional investors and hedge funds own 84.82% of the company’s stock.

Western Midstream Partners Trading Up 1.5%

WES stock opened at $37.16 on Monday. Western Midstream Partners, LP has a 12-month low of $33.60 and a 12-month high of $43.33. The business’s 50-day moving average is $38.66 and its 200 day moving average is $39.25. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.05. The stock has a market cap of $14.17 billion, a price-to-earnings ratio of 9.48, a PEG ratio of 1.40 and a beta of 1.12.

Western Midstream Partners (NYSE:WES) last issued its quarterly earnings results on Wednesday, May 7th. The pipeline company reported $0.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.04). Western Midstream Partners had a return on equity of 46.02% and a net margin of 42.99%. The firm had revenue of $917.12 million during the quarter, compared to analyst estimates of $926.55 million. During the same period in the prior year, the firm earned $1.47 earnings per share. The business’s revenue was up 3.3% on a year-over-year basis. On average, sell-side analysts anticipate that Western Midstream Partners, LP will post 4.02 EPS for the current fiscal year.

Western Midstream Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Friday, May 2nd will be issued a dividend of $0.91 per share. This is a positive change from Western Midstream Partners’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Friday, May 2nd. This represents a $3.64 dividend on an annualized basis and a dividend yield of 9.80%. Western Midstream Partners’s dividend payout ratio is presently 108.66%.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Western Midstream Partners from a “hold” rating to a “buy” rating in a research report on Saturday, March 8th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Western Midstream Partners presently has a consensus rating of “Hold” and a consensus target price of $38.33.

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.