Captrust Financial Advisors Buys 3,889 Shares of Western Midstream Partners, LP (NYSE:WES)

Captrust Financial Advisors lifted its holdings in shares of Western Midstream Partners, LP (NYSE:WES) by 305.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,162 shares of the pipeline company’s stock after acquiring an additional 3,889 shares during the quarter. Captrust Financial Advisors’ holdings in Western Midstream Partners were worth $71,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. First Horizon Advisors Inc. increased its position in shares of Western Midstream Partners by 24.6% during the fourth quarter. First Horizon Advisors Inc. now owns 3,484 shares of the pipeline company’s stock valued at $48,000 after acquiring an additional 688 shares during the last quarter. Fieldpoint Private Securities LLC purchased a new stake in shares of Western Midstream Partners during the fourth quarter valued at approximately $28,000. CIBC World Markets Inc. increased its position in shares of Western Midstream Partners by 1.2% during the fourth quarter. CIBC World Markets Inc. now owns 193,100 shares of the pipeline company’s stock valued at $2,669,000 after acquiring an additional 2,347 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Western Midstream Partners by 12.5% during the third quarter. Van ECK Associates Corp now owns 21,506 shares of the pipeline company’s stock valued at $172,000 after acquiring an additional 2,396 shares during the last quarter. Finally, Diversified Trust Co increased its position in shares of Western Midstream Partners by 25.9% during the fourth quarter. Diversified Trust Co now owns 15,245 shares of the pipeline company’s stock valued at $211,000 after acquiring an additional 3,137 shares during the last quarter. 34.87% of the stock is owned by institutional investors.

NYSE:WES opened at $19.56 on Thursday. The firm has a market capitalization of $8.08 billion, a price-to-earnings ratio of 21.26 and a beta of 3.77. Western Midstream Partners, LP has a 52-week low of $4.60 and a 52-week high of $20.90. The stock has a fifty day moving average of $18.29 and a 200 day moving average of $13.97. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.63 and a current ratio of 0.63.

Western Midstream Partners (NYSE:WES) last posted its quarterly earnings data on Tuesday, February 23rd. The pipeline company reported $0.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.03. The company had revenue of $647.50 million during the quarter, compared to analyst estimates of $655.07 million. Western Midstream Partners had a return on equity of 32.94% and a net margin of 14.99%. The firm’s quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter last year, the company earned $0.62 earnings per share. Equities analysts forecast that Western Midstream Partners, LP will post 2.31 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 12th. Investors of record on Monday, February 1st were paid a dividend of $0.311 per share. This represents a $1.24 annualized dividend and a yield of 6.36%. The ex-dividend date of this dividend was Friday, January 29th. Western Midstream Partners’s dividend payout ratio is 77.99%.

In other Western Midstream Partners news, major shareholder Petroleum Corp /De/ Occidental sold 11,500,000 shares of Western Midstream Partners stock in a transaction dated Thursday, March 25th. The stock was sold at an average price of $17.25, for a total transaction of $198,375,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.01% of the stock is currently owned by company insiders.

A number of analysts recently commented on WES shares. JPMorgan Chase & Co. raised Western Midstream Partners from a “neutral” rating to an “overweight” rating and increased their price target for the company from $17.00 to $25.00 in a research report on Thursday, March 18th. Credit Suisse Group raised Western Midstream Partners from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $14.00 to $20.00 in a research report on Thursday, December 17th. Morgan Stanley raised their target price on Western Midstream Partners from $15.00 to $20.00 and gave the stock an “underweight” rating in a research report on Monday, March 29th. Bank of America raised Western Midstream Partners from an “underperform” rating to a “neutral” rating and set a $16.00 target price for the company in a research report on Tuesday, January 26th. Finally, Zacks Investment Research downgraded Western Midstream Partners from a “buy” rating to a “hold” rating in a research report on Wednesday, February 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the stock. Western Midstream Partners presently has a consensus rating of “Buy” and an average price target of $17.40.

Western Midstream Partners Profile

Western Midstream Partners, LP, together with its subsidiaries, acquire, own, develop, and operate midstream assets primarily in the United States. It is involved in gathering, compressing, treating, processing, and transporting of natural gas; gathering, stabilizing, and transporting of condensate, natural gas liquids, and crude oil; and gathering and disposing of produced water.

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

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