Western Midstream Partners, LP (NYSE:WES) Stake Boosted by Daymark Wealth Partners LLC

Daymark Wealth Partners LLC grew its stake in shares of Western Midstream Partners, LP (NYSE:WES) by 8.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 45,506 shares of the pipeline company’s stock after acquiring an additional 3,605 shares during the period. Daymark Wealth Partners LLC’s holdings in Western Midstream Partners were worth $1,864,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Integrated Wealth Concepts LLC boosted its holdings in Western Midstream Partners by 4.7% in the fourth quarter. Integrated Wealth Concepts LLC now owns 6,833 shares of the pipeline company’s stock worth $263,000 after purchasing an additional 306 shares in the last quarter. Virtus ETF Advisers LLC boosted its holdings in Western Midstream Partners by 7.3% in the fourth quarter. Virtus ETF Advisers LLC now owns 4,564 shares of the pipeline company’s stock worth $175,000 after purchasing an additional 311 shares in the last quarter. RE Dickinson Investment Advisors LLC boosted its holdings in Western Midstream Partners by 21.8% in the fourth quarter. RE Dickinson Investment Advisors LLC now owns 2,168 shares of the pipeline company’s stock worth $83,000 after purchasing an additional 388 shares in the last quarter. Princeton Global Asset Management LLC boosted its holdings in Western Midstream Partners by 133.3% in the first quarter. Princeton Global Asset Management LLC now owns 700 shares of the pipeline company’s stock worth $29,000 after purchasing an additional 400 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in Western Midstream Partners by 34.7% in the fourth quarter. Farther Finance Advisors LLC now owns 1,935 shares of the pipeline company’s stock worth $74,000 after purchasing an additional 498 shares in the last quarter. 84.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on WES. Mizuho decreased their price objective on shares of Western Midstream Partners from $45.00 to $44.00 and set an “outperform” rating for the company in a report on Tuesday, May 20th. Wall Street Zen upgraded shares of Western Midstream Partners from a “hold” rating to a “buy” rating in a report on Saturday, March 8th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $39.83.

Western Midstream Partners Stock Down 1.2%

WES stock opened at $37.72 on Thursday. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.18 and a quick ratio of 1.18. Western Midstream Partners, LP has a 52-week low of $33.60 and a 52-week high of $43.33. The company has a 50-day moving average of $38.11 and a two-hundred day moving average of $39.29. The stock has a market capitalization of $14.38 billion, a price-to-earnings ratio of 11.26 and a beta of 1.09.

Western Midstream Partners (NYSE:WES) last released its quarterly earnings results on Wednesday, May 7th. The pipeline company reported $0.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.04). Western Midstream Partners had a net margin of 35.79% and a return on equity of 38.52%. The firm had revenue of $917.12 million for the quarter, compared to the consensus estimate of $926.55 million. During the same quarter last year, the company earned $1.47 earnings per share. The firm’s revenue was up 3.3% on a year-over-year basis. As a group, equities research analysts anticipate that Western Midstream Partners, LP will post 4.02 EPS for the current year.

Western Midstream Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Friday, May 2nd were issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 9.65%. This is a boost from Western Midstream Partners’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Friday, May 2nd. Western Midstream Partners’s dividend payout ratio is 108.66%.

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.