Cetera Investment Advisers Increases Stock Position in Western Midstream Partners, LP $WES

Cetera Investment Advisers lifted its holdings in shares of Western Midstream Partners, LP (NYSE:WES) by 55.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 89,419 shares of the pipeline company’s stock after purchasing an additional 31,843 shares during the period. Cetera Investment Advisers’ holdings in Western Midstream Partners were worth $3,460,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the business. Invesco Ltd. grew its holdings in Western Midstream Partners by 7.1% during the first quarter. Invesco Ltd. now owns 24,417,770 shares of the pipeline company’s stock worth $1,000,152,000 after acquiring an additional 1,608,609 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Western Midstream Partners by 1.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,658,988 shares of the pipeline company’s stock worth $354,672,000 after purchasing an additional 149,833 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Western Midstream Partners by 2.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,428,847 shares of the pipeline company’s stock worth $304,286,000 after purchasing an additional 155,661 shares during the period. Chickasaw Capital Management LLC increased its holdings in shares of Western Midstream Partners by 1.1% in the 2nd quarter. Chickasaw Capital Management LLC now owns 6,794,472 shares of the pipeline company’s stock valued at $262,946,000 after purchasing an additional 72,459 shares in the last quarter. Finally, Kingstone Capital Partners Texas LLC acquired a new stake in shares of Western Midstream Partners in the second quarter valued at about $156,967,000. 84.82% of the stock is currently owned by hedge funds and other institutional investors.

Western Midstream Partners Stock Up 0.2%

Shares of NYSE:WES opened at $39.07 on Thursday. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 2.08. The firm has a market cap of $15.94 billion, a price-to-earnings ratio of 12.02 and a beta of 1.14. The stock’s 50-day moving average price is $38.54 and its two-hundred day moving average price is $38.73. Western Midstream Partners, LP has a 12-month low of $33.60 and a 12-month high of $43.33.

Western Midstream Partners (NYSE:WES) last announced its quarterly earnings data on Tuesday, November 4th. The pipeline company reported $0.87 earnings per share for the quarter, hitting the consensus estimate of $0.87. Western Midstream Partners had a net margin of 34.45% and a return on equity of 37.70%. The business had revenue of $952.48 million for the quarter, compared to analyst estimates of $965.55 million. During the same period in the prior year, the firm posted $0.74 EPS. The company’s revenue was up 7.8% on a year-over-year basis. On average, research analysts forecast that Western Midstream Partners, LP will post 4.02 EPS for the current year.

Western Midstream Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, October 31st were issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 9.3%. The ex-dividend date was Friday, October 31st. Western Midstream Partners’s dividend payout ratio is presently 107.69%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Royal Bank Of Canada upped their target price on shares of Western Midstream Partners from $38.00 to $39.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 26th. Wells Fargo & Company upped their target price on Western Midstream Partners from $38.00 to $40.00 and gave the company an “equal weight” rating in a report on Thursday, November 13th. Stifel Nicolaus set a $43.00 price objective on shares of Western Midstream Partners in a research report on Thursday, November 6th. Citigroup assumed coverage on shares of Western Midstream Partners in a report on Monday, October 20th. They set a “neutral” rating and a $39.00 target price for the company. Finally, Morgan Stanley reduced their price target on shares of Western Midstream Partners from $41.00 to $39.00 and set an “underweight” rating on the stock in a report on Tuesday, August 26th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $41.00.

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.