Larson Financial Group LLC Makes New Investment in Western Midstream Partners, LP (NYSE:WES)

Larson Financial Group LLC acquired a new stake in shares of Western Midstream Partners, LP (NYSE:WES) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,200 shares of the pipeline company’s stock, valued at approximately $199,000.

A number of other institutional investors also recently bought and sold shares of the stock. Kingsview Wealth Management LLC lifted its holdings in shares of Western Midstream Partners by 8.6% in the 3rd quarter. Kingsview Wealth Management LLC now owns 10,619 shares of the pipeline company’s stock worth $406,000 after acquiring an additional 839 shares during the last quarter. Cerity Partners LLC lifted its stake in Western Midstream Partners by 55.2% in the third quarter. Cerity Partners LLC now owns 29,878 shares of the pipeline company’s stock worth $1,143,000 after purchasing an additional 10,624 shares during the last quarter. Citigroup Inc. boosted its position in shares of Western Midstream Partners by 322.1% during the third quarter. Citigroup Inc. now owns 406,587 shares of the pipeline company’s stock valued at $15,556,000 after buying an additional 310,260 shares during the period. Banco Santander S.A. raised its holdings in shares of Western Midstream Partners by 21.6% in the third quarter. Banco Santander S.A. now owns 16,259 shares of the pipeline company’s stock worth $622,000 after buying an additional 2,887 shares during the period. Finally, Caprock Group LLC bought a new stake in shares of Western Midstream Partners during the 3rd quarter worth approximately $203,000. 42.94% of the stock is currently owned by institutional investors.

Western Midstream Partners Trading Up 2.3 %

Shares of NYSE:WES opened at $39.65 on Thursday. Western Midstream Partners, LP has a 12-month low of $26.81 and a 12-month high of $42.80. The business’s fifty day simple moving average is $38.27 and its 200-day simple moving average is $38.72. The company has a market capitalization of $15.09 billion, a PE ratio of 10.11, a P/E/G ratio of 1.03 and a beta of 2.88. 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 issued 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). Western Midstream Partners had a return on equity of 46.02% and a net margin of 42.99%. The firm had revenue of $883.36 million during the quarter, compared to analysts’ expectations of $924.83 million. During the same period in the previous year, the firm earned $0.70 EPS. The firm’s quarterly revenue was up 13.8% on a year-over-year basis. As a group, equities research analysts predict that Western Midstream Partners, LP will post 4.09 earnings per share for the current fiscal year.

Western Midstream Partners Announces Dividend

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

Analysts Set New Price Targets

A number of research firms have weighed in on WES. Bank of America assumed coverage on Western Midstream Partners in a research note on Thursday, October 17th. They issued an “underperform” rating and a $37.00 target price on the stock. US Capital Advisors upgraded shares of Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a report on Tuesday. Stifel Nicolaus upped their target price on shares of Western Midstream Partners from $39.00 to $40.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. Morgan Stanley lowered shares of Western Midstream Partners from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $42.00 to $40.00 in a research report on Friday, October 25th. Finally, UBS Group lowered their price target on Western Midstream Partners from $40.00 to $37.00 and set a “neutral” rating for the company in a report on Friday, November 15th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $37.88.

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.