Curated Wealth Partners LLC Purchases New Stake in Western Midstream Partners, LP (NYSE:WES)

Curated Wealth Partners LLC acquired a new position in shares of Western Midstream Partners, LP (NYSE:WES) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,400 shares of the pipeline company’s stock, valued at approximately $246,000.

A number of other large investors have also recently made changes to their positions in the business. Chickasaw Capital Management LLC raised its holdings in shares of Western Midstream Partners by 1.5% in the 4th quarter. Chickasaw Capital Management LLC now owns 6,755,387 shares of the pipeline company’s stock worth $259,610,000 after acquiring an additional 99,518 shares during the last quarter. Kayne Anderson Capital Advisors LP raised its stake in shares of Western Midstream Partners by 23.5% in the third quarter. Kayne Anderson Capital Advisors LP now owns 6,228,448 shares of the pipeline company’s stock worth $238,300,000 after purchasing an additional 1,184,597 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Western Midstream Partners by 60.1% in the third quarter. JPMorgan Chase & Co. now owns 1,785,105 shares of the pipeline company’s stock worth $68,298,000 after purchasing an additional 670,440 shares during the last quarter. Fractal Investments LLC lifted its holdings in shares of Western Midstream Partners by 5.4% in the third quarter. Fractal Investments LLC now owns 1,465,706 shares of the pipeline company’s stock valued at $56,078,000 after purchasing an additional 75,145 shares in the last quarter. Finally, Recurrent Investment Advisors LLC boosted its position in shares of Western Midstream Partners by 5.4% during the third quarter. Recurrent Investment Advisors LLC now owns 1,397,140 shares of the pipeline company’s stock valued at $53,455,000 after buying an additional 71,210 shares during the last quarter. 84.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on WES shares. Bank of America began coverage on Western Midstream Partners in a research note on Thursday, October 17th. They set an “underperform” rating and a $37.00 price objective on the stock. US Capital Advisors raised shares of Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 26th. StockNews.com downgraded shares of Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 28th. Royal Bank of Canada reissued a “sector perform” rating and set a $41.00 target price on shares of Western Midstream Partners in a research report on Monday, December 9th. Finally, Morgan Stanley lowered Western Midstream Partners from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $42.00 to $40.00 in a report on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $37.88.

Western Midstream Partners Stock Performance

NYSE:WES opened at $42.39 on Friday. The company has a market capitalization of $16.13 billion, a P/E ratio of 10.81, a P/E/G ratio of 1.41 and a beta of 2.90. The business has a fifty day simple moving average of $39.67 and a two-hundred day simple moving average of $39.15. 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 $27.84 and a 1 year high of $43.33.

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

Western Midstream Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be issued a $0.875 dividend. This represents a $3.50 annualized dividend and a yield of 8.26%. The ex-dividend date of this dividend is Monday, February 3rd. Western Midstream Partners’s dividend payout ratio (DPR) is presently 89.29%.

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.