Summit Financial LLC Raises Holdings in Western Midstream Partners, LP (NYSE:WES)

Summit Financial LLC increased its stake in shares of Western Midstream Partners, LP (NYSE:WES) by 2.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 93,977 shares of the pipeline company’s stock after acquiring an additional 2,409 shares during the period. Summit Financial LLC’s holdings in Western Midstream Partners were worth $3,612,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Stifel Financial Corp grew its stake in shares of Western Midstream Partners by 42.1% during the 3rd quarter. Stifel Financial Corp now owns 108,367 shares of the pipeline company’s stock worth $4,146,000 after purchasing an additional 32,119 shares during the period. JPMorgan Chase & Co. grew its position in Western Midstream Partners by 60.1% during the third quarter. JPMorgan Chase & Co. now owns 1,785,105 shares of the pipeline company’s stock valued at $68,298,000 after buying an additional 670,440 shares during the period. Duff & Phelps Investment Management Co. increased its holdings in Western Midstream Partners by 6,986.8% in the third quarter. Duff & Phelps Investment Management Co. now owns 708,683 shares of the pipeline company’s stock valued at $27,114,000 after buying an additional 698,683 shares in the last quarter. Kovitz Investment Group Partners LLC acquired a new position in shares of Western Midstream Partners in the third quarter worth about $2,654,000. Finally, Samalin Investment Counsel LLC acquired a new stake in shares of Western Midstream Partners during the 4th quarter valued at about $1,085,000. 84.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on WES. StockNews.com raised Western Midstream Partners from a “hold” rating to a “buy” rating in a report on Saturday, March 8th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $41.00 target price 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 given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $38.43.

Western Midstream Partners Stock Down 1.3 %

NYSE WES opened at $40.94 on Tuesday. Western Midstream Partners, LP has a one year low of $33.64 and a one year high of $43.33. 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 business has a fifty day moving average price of $40.83 and a 200 day moving average price of $39.59. The company has a market cap of $15.61 billion, a P/E ratio of 10.44, a P/E/G ratio of 1.40 and a beta of 2.88.

Western Midstream Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were paid a $0.875 dividend. This represents a $3.50 annualized dividend and a dividend yield of 8.55%. The ex-dividend date of this dividend was Monday, February 3rd. Western Midstream Partners’s dividend payout ratio is currently 86.85%.

Western Midstream Partners Company 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.