Pathstone Holdings LLC Has $1.32 Million Holdings in Western Midstream Partners, LP (NYSE:WES)

Pathstone Holdings LLC lifted its position in Western Midstream Partners, LP (NYSE:WES) by 3.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,532 shares of the pipeline company’s stock after purchasing an additional 1,069 shares during the quarter. Pathstone Holdings LLC’s holdings in Western Midstream Partners were worth $1,321,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC raised its stake in shares of 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 in the last quarter. EverSource Wealth Advisors LLC acquired a new position in Western Midstream Partners in the second quarter worth about $74,000. Triad Wealth Partners LLC bought a new position in Western Midstream Partners during the second quarter worth about $78,000. Cedar Mountain Advisors LLC boosted its holdings in Western Midstream Partners by 16.1% during the third quarter. Cedar Mountain Advisors LLC now owns 2,158 shares of the pipeline company’s stock valued at $83,000 after purchasing an additional 299 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. grew its stake in shares of Western Midstream Partners by 63.9% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 2,566 shares of the pipeline company’s stock valued at $102,000 after purchasing an additional 1,000 shares during the period. 42.94% of the stock is owned by institutional investors.

Western Midstream Partners Stock Up 2.3 %

Shares of WES opened at $39.63 on Friday. The business’s fifty day moving average price is $38.27 and its two-hundred day moving average price is $38.73. The firm has a market capitalization of $15.08 billion, a price-to-earnings ratio of 10.11, a PEG ratio of 1.04 and a beta of 2.88. Western Midstream Partners, LP has a 52 week low of $26.81 and a 52 week high of $42.80. 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 (NYSE:WES) last posted its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.09). Western Midstream Partners had a net margin of 42.99% and a return on equity of 46.02%. The firm had revenue of $883.36 million during the quarter, compared to the consensus estimate of $924.83 million. During the same quarter in the prior year, the business earned $0.70 EPS. Western Midstream Partners’s revenue was up 13.8% on a year-over-year basis. On average, analysts predict that Western Midstream Partners, LP will post 4.09 earnings per share for the current year.

Western Midstream Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were issued a $0.875 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.50 annualized dividend and a yield of 8.83%. Western Midstream Partners’s dividend payout ratio is currently 89.29%.

Analyst Ratings Changes

Several analysts recently commented on WES shares. Royal Bank of Canada boosted their price target on Western Midstream Partners from $38.00 to $41.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 16th. Bank of America began coverage on shares of Western Midstream Partners in a report on Thursday, October 17th. They issued an “underperform” rating and a $37.00 target price on the stock. Stifel Nicolaus lifted their price target on shares of Western Midstream Partners from $39.00 to $40.00 and gave the company a “hold” rating in a report on Friday, August 9th. UBS Group decreased their price objective on shares of 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. Finally, Morgan Stanley cut shares of Western Midstream Partners from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $42.00 to $40.00 in a research note on Friday, October 25th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $37.88.

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.