Farther Finance Advisors LLC Boosts Holdings in Western Midstream Partners, LP (NYSE:WES)

Farther Finance Advisors LLC lifted its holdings in Western Midstream Partners, LP (NYSE:WES) by 34.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,935 shares of the pipeline company’s stock after purchasing an additional 498 shares during the period. Farther Finance Advisors LLC’s holdings in Western Midstream Partners were worth $74,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Duff & Phelps Investment Management Co. boosted its position in Western Midstream Partners by 6,986.8% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 708,683 shares of the pipeline company’s stock valued at $27,114,000 after buying an additional 698,683 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Western Midstream Partners by 60.1% in the third quarter. JPMorgan Chase & Co. now owns 1,785,105 shares of the pipeline company’s stock valued at $68,298,000 after acquiring an additional 670,440 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Western Midstream Partners in the fourth quarter valued at $19,079,000. Citigroup Inc. grew its stake in Western Midstream Partners by 322.1% during the 3rd quarter. Citigroup Inc. now owns 406,587 shares of the pipeline company’s stock worth $15,556,000 after purchasing an additional 310,260 shares in the last quarter. Finally, Terril Brothers Inc. increased its holdings in Western Midstream Partners by 38.4% during the 4th quarter. Terril Brothers Inc. now owns 374,536 shares of the pipeline company’s stock worth $14,393,000 after purchasing an additional 104,000 shares during the period. 84.82% of the stock is owned by hedge funds and other institutional investors.

Western Midstream Partners Stock Performance

Shares of Western Midstream Partners stock opened at $41.24 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.05. Western Midstream Partners, LP has a 52 week low of $33.64 and a 52 week high of $43.33. The firm’s 50 day moving average is $40.80 and its two-hundred day moving average is $39.44. The firm has a market capitalization of $15.72 billion, a P/E ratio of 10.52, a P/E/G ratio of 1.40 and a beta of 2.88.

Western Midstream Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were paid a $0.875 dividend. The ex-dividend date was Monday, February 3rd. This represents a $3.50 annualized dividend and a yield of 8.49%. Western Midstream Partners’s dividend payout ratio is presently 86.85%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on WES shares. US Capital Advisors upgraded Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $41.00 price target on shares of Western Midstream Partners in a research note on Monday, December 9th. Finally, StockNews.com raised shares of Western Midstream Partners from a “hold” rating to a “buy” rating in a research report on Saturday, March 8th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $38.43.

Western Midstream Partners Company 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.