Wambolt & Associates LLC Makes New Investment in Western Midstream Partners, LP (NYSE:WES)

Wambolt & Associates LLC purchased a new position in shares of Western Midstream Partners, LP (NYSE:WES) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 22,209 shares of the pipeline company’s stock, valued at approximately $853,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Aire Advisors LLC acquired a new position in shares of Western Midstream Partners in the fourth quarter valued at approximately $467,000. LPL Financial LLC increased its holdings in Western Midstream Partners by 16.8% in the fourth quarter. LPL Financial LLC now owns 227,107 shares of the pipeline company’s stock valued at $8,728,000 after buying an additional 32,628 shares in the last quarter. Samalin Investment Counsel LLC acquired a new position in Western Midstream Partners during the fourth quarter worth $1,085,000. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Western Midstream Partners during the 4th quarter worth $1,172,000. Finally, HUB Investment Partners LLC increased its holdings in Western Midstream Partners by 298.3% during the 4th quarter. HUB Investment Partners LLC now owns 33,800 shares of the pipeline company’s stock valued at $1,299,000 after acquiring an additional 25,313 shares in the last quarter. Institutional investors and hedge funds own 84.82% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on WES shares. StockNews.com upgraded Western Midstream Partners from a “hold” rating to a “buy” rating in a research report on Saturday, March 8th. Royal Bank of Canada reiterated 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, US Capital Advisors upgraded shares of Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 26th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $38.43.

Western Midstream Partners Stock Up 0.2 %

WES stock opened at $41.36 on Tuesday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.05. The firm’s 50-day simple moving average is $40.82 and its 200 day simple moving average is $39.48. The stock has a market cap of $15.77 billion, a PE ratio of 10.55, a price-to-earnings-growth ratio of 1.40 and a beta of 2.88. Western Midstream Partners, LP has a fifty-two week low of $33.64 and a fifty-two week high of $43.33.

Western Midstream Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were paid a dividend of $0.875 per share. This represents a $3.50 annualized dividend and a yield of 8.46%. The ex-dividend date of this dividend was Monday, February 3rd. Western Midstream Partners’s payout ratio is currently 86.85%.

Western Midstream Partners 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.