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

Cary Street Partners Financial LLC purchased a new stake in shares of Western Midstream Partners, LP (NYSE:WES) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 1,017 shares of the pipeline company’s stock, valued at approximately $39,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Tidal Investments LLC raised its stake in Western Midstream Partners by 26.4% during the third quarter. Tidal Investments LLC now owns 13,796 shares of the pipeline company’s stock worth $528,000 after purchasing an additional 2,879 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Western Midstream Partners by 9.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 35,838 shares of the pipeline company’s stock worth $1,371,000 after buying an additional 3,050 shares during the last quarter. Kieckhefer Group LLC purchased a new stake in shares of Western Midstream Partners during the 4th quarter valued at approximately $58,000. Adams Asset Advisors LLC lifted its holdings in Western Midstream Partners by 0.7% in the fourth quarter. Adams Asset Advisors LLC now owns 323,781 shares of the pipeline company’s stock valued at $12,443,000 after acquiring an additional 2,139 shares during the last quarter. Finally, Howard Financial Services LTD. purchased a new position in Western Midstream Partners in the fourth quarter worth approximately $384,000. Institutional investors and hedge funds own 84.82% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Western Midstream Partners from a “hold” rating to a “buy” rating in a research report on Saturday, March 8th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $38.33.

Western Midstream Partners Stock Performance

Shares of WES stock opened at $37.16 on Monday. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market cap of $14.17 billion, a P/E ratio of 9.48, a P/E/G ratio of 1.40 and a beta of 1.12. The firm’s 50 day moving average price is $38.66 and its 200-day moving average price is $39.25. Western Midstream Partners, LP has a one year low of $33.60 and a one year high of $43.33.

Western Midstream Partners (NYSE:WES) last released its quarterly earnings results on Wednesday, May 7th. The pipeline company reported $0.79 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.04). Western Midstream Partners had a return on equity of 46.02% and a net margin of 42.99%. The firm had revenue of $917.12 million for the quarter, compared to analyst estimates of $926.55 million. During the same quarter last year, the company earned $1.47 earnings per share. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, equities research analysts predict that Western Midstream Partners, LP will post 4.02 EPS for the current year.

Western Midstream Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Friday, May 2nd will be paid a dividend of $0.91 per share. This is a positive change from Western Midstream Partners’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Friday, May 2nd. This represents a $3.64 annualized dividend and a yield of 9.80%. Western Midstream Partners’s dividend payout ratio is presently 108.66%.

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.