Hickory Point Bank & Trust Takes $244,000 Position in Western Midstream Partners, LP (NYSE:WES)

Hickory Point Bank & Trust bought a new stake in shares of Western Midstream Partners, LP (NYSE:WES) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 6,350 shares of the pipeline company’s stock, valued at approximately $244,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Global Retirement Partners LLC purchased a new stake in Western Midstream Partners during the 4th quarter valued at $51,000. Empowered Funds LLC purchased a new stake in Western Midstream Partners during the 4th quarter valued at $53,000. Farther Finance Advisors LLC raised 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 valued at $55,000 after buying an additional 1,066 shares during the period. Kieckhefer Group LLC purchased a new stake in Western Midstream Partners during the 4th quarter valued at $58,000. Finally, Avondale Wealth Management purchased a new stake in Western Midstream Partners during the 4th quarter valued at $77,000. 84.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on WES. US Capital Advisors upgraded Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 26th. UBS Group reduced their target price on Western Midstream Partners from $40.00 to $37.00 and set a “neutral” rating on the stock in a research note on Friday, November 15th. StockNews.com lowered Western Midstream Partners from a “buy” rating to a “hold” rating in a research note on Friday. Finally, 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 note on Monday, December 9th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $38.43.

Western Midstream Partners Price Performance

WES opened at $40.54 on Friday. Western Midstream Partners, LP has a 12-month low of $33.25 and a 12-month high of $43.33. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.05. The business’s fifty day simple moving average is $40.52 and its 200-day simple moving average is $39.21. The company has a market capitalization of $15.43 billion, a price-to-earnings ratio of 10.34, a PEG ratio of 1.40 and a beta of 2.88.

Western Midstream Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were given a dividend of $0.875 per share. This represents a $3.50 dividend on an annualized basis and a yield of 8.63%. The ex-dividend date 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.