Bleakley Financial Group LLC Has $218,000 Stock Holdings in Western Midstream Partners, LP (NYSE:WES)

Bleakley Financial Group LLC increased its holdings in shares of Western Midstream Partners, LP (NYSE:WES) by 5.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,711 shares of the pipeline company’s stock after purchasing an additional 311 shares during the period. Bleakley Financial Group LLC’s holdings in Western Midstream Partners were worth $218,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Eagle Bay Advisors LLC bought a new stake in shares of Western Midstream Partners in the 1st quarter valued at $29,000. Retirement Group LLC increased its stake in Western Midstream Partners by 40.2% in the first quarter. Retirement Group LLC now owns 1,591 shares of the pipeline company’s stock valued at $57,000 after purchasing an additional 456 shares in the last quarter. EverSource Wealth Advisors LLC bought a new stake in Western Midstream Partners in the second quarter valued at $74,000. Triad Wealth Partners LLC bought a new position in shares of Western Midstream Partners during the 2nd quarter worth about $78,000. Finally, Cedar Mountain Advisors LLC grew its stake in shares of Western Midstream Partners by 16.1% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 2,158 shares of the pipeline company’s stock valued at $83,000 after buying an additional 299 shares during the period. 42.94% of the stock is currently owned by institutional investors.

Insider Activity at Western Midstream Partners

In other Western Midstream Partners news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of Western Midstream Partners stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total value of $697,125,000.00. Following the sale, the insider now owns 165,681,578 shares of the company’s stock, valued at approximately $5,923,116,413.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.04% of the stock is owned by company insiders.

Western Midstream Partners Trading Up 0.1 %

Shares of WES stock opened at $38.34 on Thursday. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.68 and a current ratio of 1.68. The company has a market capitalization of $14.59 billion, a price-to-earnings ratio of 10.80, a PEG ratio of 0.73 and a beta of 2.87. Western Midstream Partners, LP has a 52-week low of $26.49 and a 52-week high of $42.80. The company has a 50-day simple moving average of $38.64 and a two-hundred day simple moving average of $38.31.

Western Midstream Partners (NYSE:WES) last issued its quarterly earnings results on Wednesday, August 7th. The pipeline company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.09. Western Midstream Partners had a return on equity of 47.19% and a net margin of 44.01%. The company had revenue of $905.63 million during the quarter, compared to the consensus estimate of $904.94 million. During the same period last year, the business posted $0.64 earnings per share. Western Midstream Partners’s revenue was up 22.7% on a year-over-year basis. Research analysts anticipate that Western Midstream Partners, LP will post 4.13 EPS for the current fiscal year.

Western Midstream Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be issued a $0.875 dividend. This represents a $3.50 dividend on an annualized basis and a dividend yield of 9.13%. The ex-dividend date of this dividend is Friday, November 1st. Western Midstream Partners’s dividend payout ratio (DPR) is currently 98.59%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on WES. Morgan Stanley downgraded Western Midstream Partners from an “overweight” rating to an “equal weight” rating and set a $42.00 price target on the stock. in a research note on Monday, September 16th. Stifel Nicolaus increased their target price on Western Midstream Partners from $39.00 to $40.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Bank of America began coverage on shares of Western Midstream Partners in a research note on Thursday, October 17th. They set an “underperform” rating and a $37.00 price target for the company. UBS Group raised their price objective on shares of Western Midstream Partners from $38.00 to $39.00 and gave the company a “neutral” rating in a research note on Wednesday, September 18th. Finally, StockNews.com raised shares of Western Midstream Partners from a “buy” rating to a “strong-buy” rating in a research report on Sunday. One analyst has rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $38.38.

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.