Western Midstream Partners (NYSE:WES) Sets New 12-Month High – Here’s What Happened

Western Midstream Partners, LP (NYSE:WES) reached a new 52-week high during trading on Thursday . The company traded as high as $42.92 and last traded at $42.8550, with a volume of 79832 shares traded. The stock had previously closed at $42.45.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Wells Fargo & Company decreased their price target on shares of Western Midstream Partners from $40.00 to $39.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 22nd. Citigroup began coverage on Western Midstream Partners in a research report on Monday, October 20th. They set a “neutral” rating and a $39.00 target price on the stock. Royal Bank Of Canada increased their price target on Western Midstream Partners from $39.00 to $42.00 and gave the company a “sector perform” rating in a research report on Friday, November 28th. Stifel Nicolaus set a $43.00 price target on Western Midstream Partners in a research note on Thursday, November 6th. Finally, Wall Street Zen lowered shares of Western Midstream Partners from a “buy” rating to a “hold” rating in a research note on Saturday, December 27th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $41.33.

Western Midstream Partners Stock Up 2.6%

The firm has a 50-day moving average of $40.43 and a two-hundred day moving average of $39.29. The stock has a market capitalization of $17.73 billion, a price-to-earnings ratio of 12.86 and a beta of 0.77. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 2.08.

Western Midstream Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Monday, February 2nd were given a $0.91 dividend. The ex-dividend date was Monday, February 2nd. This represents a $3.64 dividend on an annualized basis and a yield of 8.4%. Western Midstream Partners’s dividend payout ratio is presently 107.69%.

Insider Activity at Western Midstream Partners

In other news, SVP Christopher B. Dial sold 5,879 shares of the company’s 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 transaction, the senior vice president directly owned 185,011 shares of the company’s stock, valued at approximately $7,835,215.85. This represents a 3.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.04% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Eagle Bay Advisors LLC purchased a new stake in shares of Western Midstream Partners during the 4th quarter worth about $27,000. Northwestern Mutual Wealth Management Co. acquired a new position in Western Midstream Partners in the fourth quarter worth approximately $27,000. Rothschild Investment LLC raised its position in Western Midstream Partners by 76.2% during the fourth quarter. Rothschild Investment LLC now owns 793 shares of the pipeline company’s stock valued at $31,000 after acquiring an additional 343 shares in the last quarter. Global Wealth Strategies & Associates acquired a new stake in Western Midstream Partners in the fourth quarter valued at approximately $35,000. Finally, Jones Financial Companies Lllp lifted its stake in Western Midstream Partners by 86.1% in the third quarter. Jones Financial Companies Lllp now owns 908 shares of the pipeline company’s stock valued at $36,000 after acquiring an additional 420 shares during the last quarter. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Western Midstream Partners Company Profile

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.