Raymond James Financial Inc. Raises Holdings in Western Midstream Partners, LP $WES

Raymond James Financial Inc. grew its position in shares of Western Midstream Partners, LP (NYSE:WES) by 2.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 509,737 shares of the pipeline company’s stock after buying an additional 13,269 shares during the period. Raymond James Financial Inc. owned 0.13% of Western Midstream Partners worth $20,879,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in WES. Integrated Wealth Concepts LLC raised its stake in shares of Western Midstream Partners by 4.7% during the 4th quarter. Integrated Wealth Concepts LLC now owns 6,833 shares of the pipeline company’s stock valued at $263,000 after purchasing an additional 306 shares during the period. Princeton Global Asset Management LLC raised its stake in shares of Western Midstream Partners by 133.3% during the 1st quarter. Princeton Global Asset Management LLC now owns 700 shares of the pipeline company’s stock valued at $29,000 after purchasing an additional 400 shares during the period. Atria Wealth Solutions Inc. raised its stake in shares of Western Midstream Partners by 5.0% during the 1st quarter. Atria Wealth Solutions Inc. now owns 8,559 shares of the pipeline company’s stock valued at $351,000 after purchasing an additional 411 shares during the period. Apollon Wealth Management LLC raised its stake in shares of Western Midstream Partners by 1.6% during the 1st quarter. Apollon Wealth Management LLC now owns 26,113 shares of the pipeline company’s stock valued at $1,070,000 after purchasing an additional 422 shares during the period. Finally, Private Advisor Group LLC raised its stake in shares of Western Midstream Partners by 9.3% during the 1st quarter. Private Advisor Group LLC now owns 5,926 shares of the pipeline company’s stock valued at $243,000 after purchasing an additional 503 shares during the period. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Western Midstream Partners Price Performance

Shares of NYSE WES opened at $38.24 on Wednesday. The firm has a market capitalization of $14.58 billion, a P/E ratio of 11.77 and a beta of 1.13. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 2.08. The stock’s 50-day simple moving average is $39.12 and its two-hundred day simple moving average is $39.00. Western Midstream Partners, LP has a twelve month low of $33.60 and a twelve month high of $43.33.

Western Midstream Partners (NYSE:WES) last announced its earnings results on Wednesday, August 6th. The pipeline company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.05. The business had revenue of $942.32 million for the quarter, compared to analyst estimates of $954.17 million. Western Midstream Partners had a return on equity of 37.70% and a net margin of 34.45%.The company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.97 EPS. As a group, equities analysts anticipate that Western Midstream Partners, LP will post 4.02 EPS for the current fiscal year.

Western Midstream Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 1st were issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 9.5%. The ex-dividend date was Friday, August 1st. Western Midstream Partners’s dividend payout ratio is presently 112.00%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Mizuho decreased their price objective on Western Midstream Partners from $45.00 to $44.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 20th. Morgan Stanley decreased their price objective on Western Midstream Partners from $41.00 to $39.00 and set an “underweight” rating on the stock in a research note on Tuesday. Finally, Royal Bank Of Canada boosted their price objective on Western Midstream Partners from $38.00 to $39.00 and gave the company a “sector perform” rating in a research note on Tuesday. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $39.20.

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.