CIBC Bancorp USA Inc. Purchases Shares of 818,344 Western Midstream Partners, LP $WES

CIBC Bancorp USA Inc. purchased a new position in Western Midstream Partners, LP (NYSE:WES) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 818,344 shares of the pipeline company’s stock, valued at approximately $32,153,000. CIBC Bancorp USA Inc. owned about 0.20% of Western Midstream Partners at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Advisory Services Network LLC increased its position in shares of Western Midstream Partners by 5.4% in the 3rd quarter. Advisory Services Network LLC now owns 9,020 shares of the pipeline company’s stock valued at $354,000 after acquiring an additional 462 shares during the period. Fulcrum Asset Management LLP acquired a new stake in Western Midstream Partners during the 3rd quarter worth about $41,000. Kestra Private Wealth Services LLC lifted its position in Western Midstream Partners by 21.2% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 25,453 shares of the pipeline company’s stock worth $1,000,000 after acquiring an additional 4,452 shares during the period. Mountain Lake Investment Management LLC purchased a new stake in Western Midstream Partners during the 3rd quarter valued at about $329,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Western Midstream Partners during the 3rd quarter valued at about $300,257,000. 84.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on WES. Wells Fargo & Company raised their price objective on Western Midstream Partners from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Friday, March 13th. Wall Street Zen lowered Western Midstream Partners from a “buy” rating to a “hold” rating in a research report on Saturday, December 27th. Stifel Nicolaus cut their price target on shares of Western Midstream Partners from $43.00 to $42.00 and set a “hold” rating on the stock in a report on Friday, February 20th. JPMorgan Chase & Co. decreased their price objective on shares of Western Midstream Partners from $44.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday, March 12th. Finally, Royal Bank Of Canada increased their price objective on shares of Western Midstream Partners from $39.00 to $42.00 and gave the stock a “sector perform” rating in a research note on Friday, November 28th. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $41.71.

Insider Buying and Selling at Western Midstream Partners

In other Western Midstream Partners news, SVP Christopher B. Dial sold 5,879 shares of Western Midstream Partners stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $42.35, for a total value of $248,975.65. Following the completion of the transaction, the senior vice president owned 185,011 shares of the company’s stock, valued at approximately $7,835,215.85. The trade was a 3.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert G. Phillips acquired 1,250 shares of the firm’s stock in a transaction on Wednesday, March 11th. The stock was purchased at an average price of $40.19 per share, with a total value of $50,237.50. Following the transaction, the director owned 5,296 shares of the company’s stock, valued at approximately $212,846.24. This trade represents a 30.89% increase in their position. The SEC filing for this purchase provides additional information. 0.04% of the stock is currently owned by company insiders.

Western Midstream Partners Trading Down 1.3%

Shares of NYSE:WES opened at $40.94 on Thursday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.97. Western Midstream Partners, LP has a 12-month low of $33.60 and a 12-month high of $44.74. The business has a 50 day moving average of $41.46 and a two-hundred day moving average of $39.72. The company has a market capitalization of $16.11 billion, a PE ratio of 13.65 and a beta of 0.76.

Western Midstream Partners (NYSE:WES) last issued its quarterly earnings data on Wednesday, February 18th. The pipeline company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.44). The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.06 billion. Western Midstream Partners had a return on equity of 33.14% and a net margin of 30.52%.Western Midstream Partners’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.85 EPS. As a group, analysts forecast that Western Midstream Partners, LP will post 4.02 EPS for the current year.

Western Midstream Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Monday, February 2nd were given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 8.9%. The ex-dividend date was Monday, February 2nd. Western Midstream Partners’s dividend payout ratio (DPR) is currently 121.33%.

About Western Midstream Partners

Western Midstream Partners, LP (NYSE: WES) is a midstream energy infrastructure company that owns, operates and develops an integrated network of crude oil, natural gas and produced water gathering, processing, transportation and storage assets in the United States. The partnership’s primary offerings include pipeline transportation, fractionation services, natural gas liquids (NGL) logistics and produced water handling. Through its fee-based and commodity-based contracts, Western Midstream provides its customers with essential services that support efficient energy production and distribution.

The company’s asset portfolio spans key onshore basins, including the Delaware Basin in West Texas and southeastern New Mexico, the San Juan Basin in New Mexico and Colorado, and the Denver-Julesburg Basin in Colorado.