Wealth Enhancement Advisory Services LLC Increases Holdings in Western Midstream Partners, LP (NYSE:WES)

Wealth Enhancement Advisory Services LLC raised its holdings in shares of Western Midstream Partners, LP (NYSE:WES) by 9.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,838 shares of the pipeline company’s stock after purchasing an additional 3,050 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Western Midstream Partners were worth $1,371,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Farther Finance Advisors LLC raised its holdings in shares of Western Midstream Partners by 287.3% during the third quarter. Farther Finance Advisors LLC now owns 1,437 shares of the pipeline company’s stock valued at $55,000 after acquiring an additional 1,066 shares in the last quarter. EverSource Wealth Advisors LLC bought a new position in Western Midstream Partners in the 2nd quarter worth $74,000. Avondale Wealth Management purchased a new stake in shares of Western Midstream Partners in the 4th quarter worth about $77,000. Cedar Mountain Advisors LLC boosted its stake in shares of Western Midstream Partners by 16.1% during the 3rd 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, Millburn Ridgefield Corp purchased a new position in shares of Western Midstream Partners during the third quarter valued at about $86,000. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Western Midstream Partners Stock Performance

Shares of Western Midstream Partners stock opened at $41.18 on Thursday. Western Midstream Partners, LP has a 1 year low of $27.49 and a 1 year high of $42.80. The firm’s 50-day moving average is $38.96 and its 200 day moving average is $39.09. The stock has a market cap of $15.67 billion, a price-to-earnings ratio of 10.51, a PEG ratio of 1.08 and a beta of 2.90. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.11 and a quick ratio of 1.11.

Western Midstream Partners (NYSE:WES) last issued its 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). The firm had revenue of $883.36 million during the quarter, compared to the consensus estimate of $924.83 million. Western Midstream Partners had a return on equity of 46.02% and a net margin of 42.99%. The company’s quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.70 EPS. Sell-side analysts anticipate that Western Midstream Partners, LP will post 4.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

WES has been the subject of several research analyst reports. Bank of America started coverage on shares of Western Midstream Partners in a report on Thursday, October 17th. They issued an “underperform” rating and a $37.00 price objective for the company. UBS Group lowered their target price on Western Midstream Partners from $40.00 to $37.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. Morgan Stanley lowered Western Midstream Partners from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $42.00 to $40.00 in a research report on Friday, October 25th. StockNews.com lowered Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 28th. Finally, US Capital Advisors raised shares of Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 26th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Western Midstream Partners presently has a consensus rating of “Hold” and an average target price of $37.88.

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.