Kovitz Investment Group Partners LLC Buys Shares of 69,366 Western Midstream Partners, LP (NYSE:WES)

Kovitz Investment Group Partners LLC purchased a new position in shares of Western Midstream Partners, LP (NYSE:WES) in the third quarter, Holdings Channel.com reports. The institutional investor purchased 69,366 shares of the pipeline company’s stock, valued at approximately $2,654,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in WES. Farther Finance Advisors LLC grew its holdings in Western Midstream Partners by 287.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,437 shares of the pipeline company’s stock worth $55,000 after acquiring an additional 1,066 shares in the last quarter. EverSource Wealth Advisors LLC bought a new position in shares of Western Midstream Partners during the second quarter worth about $74,000. Triad Wealth Partners LLC acquired a new position in Western Midstream Partners in the second quarter worth about $78,000. Cedar Mountain Advisors LLC increased its holdings in Western Midstream Partners by 16.1% in the third quarter. Cedar Mountain Advisors LLC now owns 2,158 shares of the pipeline company’s stock valued at $83,000 after buying an additional 299 shares during the last quarter. Finally, Millburn Ridgefield Corp acquired a new stake in Western Midstream Partners during the third quarter valued at approximately $86,000. Institutional investors own 84.82% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Western Midstream Partners Price Performance

Shares of NYSE:WES opened at $39.65 on Tuesday. The firm’s 50 day moving average is $38.51 and its two-hundred day moving average is $38.86. The firm has a market capitalization of $15.09 billion, a P/E ratio of 10.11, a PEG ratio of 1.09 and a beta of 2.90. 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, LP has a 52 week low of $26.81 and a 52 week high of $42.80.

Western Midstream Partners (NYSE:WES) last posted its earnings results on Wednesday, November 6th. The pipeline company reported $0.74 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.09). Western Midstream Partners had a net margin of 42.99% and a return on equity of 46.02%. The business had revenue of $883.36 million during the quarter, compared to analyst estimates of $924.83 million. During the same quarter in the prior year, the business earned $0.70 earnings per share. The firm’s revenue was up 13.8% compared to the same quarter last year. Analysts anticipate that Western Midstream Partners, LP will post 4.05 earnings per share for the current year.

Western Midstream Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were paid a dividend of $0.875 per share. This represents a $3.50 dividend on an annualized basis and a dividend yield of 8.83%. The ex-dividend date was Friday, November 1st. Western Midstream Partners’s dividend payout ratio is currently 89.29%.

Western Midstream Partners Company 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.