Farther Finance Advisors LLC Acquires 1,066 Shares of Western Midstream Partners, LP (NYSE:WES)

Farther Finance Advisors LLC increased its position in Western Midstream Partners, LP (NYSE:WES) by 287.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,437 shares of the pipeline company’s stock after acquiring an additional 1,066 shares during the quarter. Farther Finance Advisors LLC’s holdings in Western Midstream Partners were worth $55,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in WES. Janney Montgomery Scott LLC increased its holdings in Western Midstream Partners by 177.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 34,043 shares of the pipeline company’s stock worth $1,210,000 after acquiring an additional 21,765 shares during the last quarter. Eagle Bay Advisors LLC purchased a new stake in Western Midstream Partners in the 1st quarter worth about $29,000. Banco Santander S.A. increased its holdings in Western Midstream Partners by 10.2% in the 1st quarter. Banco Santander S.A. now owns 13,372 shares of the pipeline company’s stock worth $475,000 after acquiring an additional 1,238 shares during the last quarter. Westwood Holdings Group Inc. increased its holdings in Western Midstream Partners by 1.4% in the 1st quarter. Westwood Holdings Group Inc. now owns 1,809,814 shares of the pipeline company’s stock worth $64,339,000 after acquiring an additional 24,377 shares during the last quarter. Finally, Blackstone Inc. increased its holdings in Western Midstream Partners by 2.0% in the 1st quarter. Blackstone Inc. now owns 12,980,724 shares of the pipeline company’s stock worth $461,465,000 after acquiring an additional 259,928 shares during the last quarter. Hedge funds and other institutional investors own 42.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on WES shares. UBS Group lifted their price objective on Western Midstream Partners from $38.00 to $39.00 and gave the stock a “neutral” rating in a report on Wednesday, September 18th. StockNews.com lowered Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, October 28th. Morgan Stanley lowered Western Midstream Partners from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $42.00 to $40.00 in a report on Friday, October 25th. Bank of America started coverage on Western Midstream Partners in a report on Thursday, October 17th. They set an “underperform” rating and a $37.00 target price for the company. Finally, Royal Bank of Canada lifted their target price on Western Midstream Partners from $38.00 to $41.00 and gave the company a “sector perform” rating in a report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $38.13.

Western Midstream Partners Stock Performance

Shares of WES opened at $36.77 on Thursday. The company has a market cap of $13.99 billion, a PE ratio of 9.38, a price-to-earnings-growth ratio of 0.68 and a beta of 2.88. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.05. The stock has a 50-day moving average price of $38.37 and a 200-day moving average price of $38.53. Western Midstream Partners, LP has a 12-month low of $26.81 and a 12-month high of $42.80.

Western Midstream Partners (NYSE:WES) last issued its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.09). The business had revenue of $883.36 million for the quarter, compared to the consensus estimate of $924.83 million. Western Midstream Partners had a net margin of 42.99% and a return on equity of 46.02%. The business’s revenue was up 13.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.70 EPS. As a group, equities analysts forecast that Western Midstream Partners, LP will post 4.13 earnings per share for the current fiscal year.

Western Midstream Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be given a $0.875 dividend. The ex-dividend date is Friday, November 1st. This represents a $3.50 dividend on an annualized basis and a yield of 9.52%. Western Midstream Partners’s payout ratio is 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.