Commonwealth Equity Services LLC Buys 7,155 Shares of Western Midstream Partners, LP (NYSE:WES)

Commonwealth Equity Services LLC increased its stake in shares of Western Midstream Partners, LP (NYSE:WES) by 50.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,353 shares of the pipeline company’s stock after purchasing an additional 7,155 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Western Midstream Partners were worth $821,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in WES. Farther Finance Advisors LLC lifted its position in shares of Western Midstream Partners by 34.7% during the fourth quarter. Farther Finance Advisors LLC now owns 1,935 shares of the pipeline company’s stock valued at $74,000 after buying an additional 498 shares during the last quarter. HighTower Advisors LLC lifted its position in Western Midstream Partners by 3.6% during the fourth quarter. HighTower Advisors LLC now owns 98,008 shares of the pipeline company’s stock valued at $3,766,000 after acquiring an additional 3,409 shares during the last quarter. Citizens Financial Group Inc. RI acquired a new stake in Western Midstream Partners in the fourth quarter valued at approximately $222,000. PNC Financial Services Group Inc. purchased a new position in Western Midstream Partners in the fourth quarter worth $231,000. Finally, Banco Santander S.A. grew its holdings in Western Midstream Partners by 22.8% in the fourth quarter. Banco Santander S.A. now owns 19,974 shares of the pipeline company’s stock worth $768,000 after purchasing an additional 3,715 shares during the last quarter. Institutional investors own 84.82% of the company’s stock.

Western Midstream Partners Stock Performance

WES opened at $41.59 on Thursday. The stock has a market cap of $15.86 billion, a P/E ratio of 10.61, 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 current ratio of 1.11 and a quick ratio of 1.11. The firm has a fifty day moving average price of $40.78 and a 200 day moving average price of $39.61. Western Midstream Partners, LP has a 1 year low of $33.64 and a 1 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. Stockholders of record on Monday, February 3rd were paid a dividend of $0.875 per share. This represents a $3.50 annualized dividend and a dividend yield of 8.42%. The ex-dividend date was Monday, February 3rd. Western Midstream Partners’s payout ratio is currently 86.85%.

Wall Street Analyst Weigh In

WES has been the subject of a number of recent analyst reports. StockNews.com raised Western Midstream Partners from a “hold” rating to a “buy” rating in a research report on Saturday, March 8th. 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. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $38.43.

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.