B. Riley Wealth Advisors Inc. Sells 554 Shares of Western Midstream Partners, LP (NYSE:WES)

B. Riley Wealth Advisors Inc. cut its position in shares of Western Midstream Partners, LP (NYSE:WES) by 1.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,555 shares of the pipeline company’s stock after selling 554 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Western Midstream Partners were worth $982,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Alps Advisors Inc. increased its position in shares of Western Midstream Partners by 13.0% during the 3rd quarter. Alps Advisors Inc. now owns 33,519,544 shares of the pipeline company’s stock valued at $912,737,000 after purchasing an additional 3,855,558 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Western Midstream Partners by 14.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,280,595 shares of the pipeline company’s stock valued at $183,770,000 after purchasing an additional 802,709 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Western Midstream Partners by 15.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,571,428 shares of the pipeline company’s stock valued at $124,480,000 after purchasing an additional 622,108 shares during the last quarter. Infrastructure Capital Advisors LLC grew its position in Western Midstream Partners by 7.6% during the 3rd quarter. Infrastructure Capital Advisors LLC now owns 1,548,917 shares of the pipeline company’s stock worth $42,177,000 after acquiring an additional 109,048 shares during the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its position in Western Midstream Partners by 4.4% during the 4th quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,491,845 shares of the pipeline company’s stock worth $43,651,000 after acquiring an additional 62,529 shares during the last quarter. 42.94% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on WES. Mizuho raised their price target on Western Midstream Partners from $34.00 to $39.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. StockNews.com upgraded Western Midstream Partners from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Wells Fargo & Company raised their price target on Western Midstream Partners from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 21st. Wolfe Research upgraded Western Midstream Partners from an “underperform” rating to a “peer perform” rating in a research report on Thursday, April 18th. Finally, Raymond James restated a “market perform” rating on shares of Western Midstream Partners in a research report on Tuesday, March 19th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Western Midstream Partners has a consensus rating of “Hold” and an average price target of $31.55.

Western Midstream Partners Trading Up 0.9 %

WES opened at $38.40 on Friday. The stock has a market cap of $14.61 billion, a PE ratio of 10.82, a PEG ratio of 0.68 and a beta of 2.85. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 2.15. The business has a 50 day moving average of $36.72 and a 200-day moving average of $32.90. Western Midstream Partners, LP has a 52 week low of $25.47 and a 52 week high of $39.70.

Western Midstream Partners (NYSE:WES) last released its earnings results on Wednesday, May 8th. The pipeline company reported $1.47 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.62. The company had revenue of $887.73 million during the quarter, compared to analysts’ expectations of $868.22 million. Western Midstream Partners had a return on equity of 44.76% and a net margin of 42.50%. The firm’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.52 EPS. Equities research analysts predict that Western Midstream Partners, LP will post 4.1 earnings per share for the current fiscal year.

Western Midstream Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were paid a dividend of $0.875 per share. This is a boost from Western Midstream Partners’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Tuesday, April 30th. This represents a $3.50 dividend on an annualized basis and a yield of 9.11%. Western Midstream Partners’s payout ratio is presently 98.59%.

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.