Western Midstream Partners, LP (NYSE:WES) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its position in shares of Western Midstream Partners, LP (NYSE:WES) by 60.1% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,785,105 shares of the pipeline company’s stock after purchasing an additional 670,440 shares during the quarter. JPMorgan Chase & Co. owned about 0.47% of Western Midstream Partners worth $68,298,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of WES. Farther Finance Advisors LLC lifted its holdings in shares of Western Midstream Partners by 287.3% during the 3rd 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 purchased a new stake in shares of Western Midstream Partners during the 2nd quarter valued at about $74,000. Cedar Mountain Advisors LLC lifted its position in 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 worth $83,000 after acquiring an additional 299 shares in the last quarter. Millburn Ridgefield Corp acquired a new stake in Western Midstream Partners in the third quarter valued at approximately $86,000. Finally, Farmers & Merchants Investments Inc. raised its stake in shares of Western Midstream Partners by 63.9% during the second quarter. Farmers & Merchants Investments Inc. now owns 2,566 shares of the pipeline company’s stock valued at $102,000 after purchasing an additional 1,000 shares during the period. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Western Midstream Partners Trading Down 0.1 %

Shares of WES stock opened at $39.24 on Friday. The firm has a market capitalization of $14.93 billion, a PE ratio of 10.01, a price-to-earnings-growth ratio of 1.08 and a beta of 2.90. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.11 and a current ratio of 1.11. Western Midstream Partners, LP has a 1 year low of $27.49 and a 1 year high of $42.80. The stock has a fifty day moving average of $38.55 and a two-hundred day moving average of $39.02.

Western Midstream Partners (NYSE:WES) last released its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.09). The company had revenue of $883.36 million for 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 firm’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.70 earnings per share. As a group, research analysts expect that Western Midstream Partners, LP will post 4.03 EPS for the current year.

Western Midstream Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were issued a $0.875 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.50 annualized dividend and a dividend yield of 8.92%. Western Midstream Partners’s dividend payout ratio (DPR) is 89.29%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on WES shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $41.00 price target on shares of Western Midstream Partners in a research note on Monday, December 9th. Bank of America assumed coverage on Western Midstream Partners in a research note on Thursday, October 17th. They set an “underperform” rating and a $37.00 price objective for the company. US Capital Advisors upgraded Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Morgan Stanley cut shares of Western Midstream Partners from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $42.00 to $40.00 in a report on Friday, October 25th. Finally, StockNews.com downgraded shares of Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 28th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $37.88.

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.