Ieq Capital LLC Increases Position in Western Midstream Partners, LP (NYSE:WES)

Ieq Capital LLC grew its position in Western Midstream Partners, LP (NYSE:WES) by 22.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,070 shares of the pipeline company’s stock after buying an additional 6,265 shares during the quarter. Ieq Capital LLC’s holdings in Western Midstream Partners were worth $1,309,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Global Retirement Partners LLC purchased a new stake in Western Midstream Partners during the fourth quarter worth about $51,000. Empowered Funds LLC acquired a new stake in Western Midstream Partners during the 4th quarter worth approximately $53,000. Farther Finance Advisors LLC boosted its position in Western Midstream Partners by 287.3% in 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 shares of Western Midstream Partners during the fourth quarter worth $58,000. Finally, Avondale Wealth Management purchased a new position in Western Midstream Partners in the fourth quarter valued at $77,000. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. UBS Group reduced their price target on Western Midstream Partners from $40.00 to $37.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. US Capital Advisors raised shares of Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 26th. Royal Bank of Canada reiterated a “sector perform” rating and set a $41.00 price target on shares of Western Midstream Partners in a report on Monday, December 9th. Finally, StockNews.com lowered shares of Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, October 28th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Western Midstream Partners presently has a consensus rating of “Hold” and a consensus target price of $37.88.

Western Midstream Partners Stock Down 1.6 %

WES opened at $40.47 on Tuesday. The stock has a market capitalization of $15.40 billion, a P/E ratio of 10.32, a price-to-earnings-growth ratio of 1.40 and a beta of 2.88. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.11 and a current ratio of 1.11. Western Midstream Partners, LP has a one year low of $33.15 and a one year high of $43.33. The business’s 50-day simple moving average is $40.38 and its 200-day simple moving average is $39.17.

Western Midstream Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were paid a $0.875 dividend. This represents a $3.50 dividend on an annualized basis and a yield of 8.65%. The ex-dividend date was Monday, February 3rd. Western Midstream Partners’s dividend payout ratio is currently 89.29%.

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.