Truist Financial Corp Has $831,000 Stock Position in Western Midstream Partners, LP (NYSE:WES)

Truist Financial Corp lowered its position in shares of Western Midstream Partners, LP (NYSE:WES) by 5.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,613 shares of the pipeline company’s stock after selling 1,250 shares during the quarter. Truist Financial Corp’s holdings in Western Midstream Partners were worth $831,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Empowered Funds LLC bought a new stake in Western Midstream Partners during the 4th quarter worth about $53,000. Farther Finance Advisors LLC grew its holdings in 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 worth $55,000 after acquiring an additional 1,066 shares during the last quarter. Kieckhefer Group LLC bought a new stake in Western Midstream Partners during the 4th quarter worth about $58,000. Avondale Wealth Management bought a new stake in Western Midstream Partners during the 4th quarter worth about $77,000. Finally, Millburn Ridgefield Corp bought a new stake in Western Midstream Partners during the 3rd quarter worth about $86,000. Institutional investors and hedge funds own 84.82% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on WES. StockNews.com lowered shares of Western Midstream Partners from a “buy” rating to a “hold” rating in a report on Friday. Royal Bank of Canada reissued a “sector perform” rating and set a $41.00 price objective on shares of Western Midstream Partners in a report on Monday, December 9th. US Capital Advisors raised shares of Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 26th. Finally, UBS Group reduced their target price on shares of Western Midstream Partners from $40.00 to $37.00 and set a “neutral” rating on the stock in a research note on Friday, November 15th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $38.43.

Western Midstream Partners Stock Performance

Shares of WES stock opened at $40.54 on Friday. 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 market capitalization of $15.43 billion, a P/E ratio of 10.34, a price-to-earnings-growth ratio of 1.40 and a beta of 2.88. The company’s 50 day moving average price is $40.52 and its two-hundred day moving average price is $39.21. Western Midstream Partners, LP has a 52 week low of $33.25 and a 52 week high of $43.33.

Western Midstream Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were given 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 dividend yield of 8.63%. Western Midstream Partners’s payout ratio is presently 86.85%.

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.