496,468 Shares in Western Midstream Partners, LP (NYSE:WES) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new position in Western Midstream Partners, LP (NYSE:WES) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 496,468 shares of the pipeline company’s stock, valued at approximately $19,079,000. Raymond James Financial Inc. owned about 0.13% of Western Midstream Partners as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Stifel Financial Corp boosted its stake in Western Midstream Partners by 42.1% during the third quarter. Stifel Financial Corp now owns 108,367 shares of the pipeline company’s stock worth $4,146,000 after buying an additional 32,119 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Western Midstream Partners by 6.5% during the third quarter. BNP Paribas Financial Markets now owns 996,018 shares of the pipeline company’s stock valued at $38,108,000 after purchasing an additional 60,603 shares during the period. MAI Capital Management boosted its stake in shares of Western Midstream Partners by 293.1% during the third quarter. MAI Capital Management now owns 29,878 shares of the pipeline company’s stock valued at $1,143,000 after purchasing an additional 22,277 shares during the period. Citigroup Inc. boosted its stake in shares of Western Midstream Partners by 322.1% during the third quarter. Citigroup Inc. now owns 406,587 shares of the pipeline company’s stock valued at $15,556,000 after purchasing an additional 310,260 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Western Midstream Partners by 60.1% during the third quarter. JPMorgan Chase & Co. now owns 1,785,105 shares of the pipeline company’s stock valued at $68,298,000 after purchasing an additional 670,440 shares during the period. Institutional investors own 84.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WES. Royal Bank of Canada reissued a “sector perform” rating and set a $41.00 target price on shares of Western Midstream Partners in a research note on Monday, December 9th. StockNews.com raised shares of Western Midstream Partners from a “hold” rating to a “buy” rating in a research note on Saturday, March 8th. Finally, US Capital Advisors raised shares of Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $38.43.

Western Midstream Partners Stock Performance

Shares of Western Midstream Partners stock opened at $41.04 on Monday. The company has a market capitalization of $15.65 billion, a PE ratio of 10.47, a P/E/G ratio of 1.40 and a beta of 2.88. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.11 and a current ratio of 1.11. The company has a 50-day simple moving average of $40.61 and a two-hundred day simple moving average of $39.33. Western Midstream Partners, LP has a one year low of $33.42 and a one year high of $43.33.

Western Midstream Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a $0.875 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $3.50 dividend on an annualized basis and a yield of 8.53%. Western Midstream Partners’s dividend payout ratio is presently 86.85%.

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.