Daymark Wealth Partners LLC Raises Stock Holdings in Western Midstream Partners, LP (NYSE:WES)

Daymark Wealth Partners LLC lifted its holdings in Western Midstream Partners, LP (NYSE:WES) by 27.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 41,901 shares of the pipeline company’s stock after purchasing an additional 9,094 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Western Midstream Partners were worth $1,610,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Cedar Mountain Advisors LLC grew its stake in shares of Western Midstream Partners by 16.1% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 2,158 shares of the pipeline company’s stock worth $83,000 after buying an additional 299 shares in the last quarter. Bleakley Financial Group LLC grew its position in Western Midstream Partners by 5.8% in the third quarter. Bleakley Financial Group LLC now owns 5,711 shares of the pipeline company’s stock worth $218,000 after acquiring an additional 311 shares in the last quarter. Concurrent Investment Advisors LLC increased its stake in Western Midstream Partners by 6.2% during the third quarter. Concurrent Investment Advisors LLC now owns 6,053 shares of the pipeline company’s stock worth $232,000 after acquiring an additional 352 shares during the last quarter. Truist Financial Corp raised its position in Western Midstream Partners by 1.9% during the second quarter. Truist Financial Corp now owns 22,508 shares of the pipeline company’s stock valued at $894,000 after purchasing an additional 421 shares during the period. Finally, Albert D Mason Inc. lifted its stake in shares of Western Midstream Partners by 1.0% in the 3rd quarter. Albert D Mason Inc. now owns 49,261 shares of the pipeline company’s stock valued at $1,885,000 after purchasing an additional 501 shares during the last quarter. Institutional investors own 84.82% of the company’s stock.

Western Midstream Partners Stock Down 1.8 %

Shares of NYSE WES opened at $42.13 on Thursday. Western Midstream Partners, LP has a 52-week low of $27.84 and a 52-week high of $43.33. The firm has a market capitalization of $16.03 billion, a price-to-earnings ratio of 10.75, a PEG ratio of 1.44 and a beta of 2.90. The stock has a 50 day moving average price of $39.49 and a 200 day moving average price of $39.12. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.11 and a current ratio of 1.11.

Western Midstream Partners (NYSE:WES) last issued its earnings results on Wednesday, November 6th. The pipeline company reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.09). The firm had revenue of $883.36 million during the quarter, compared to analysts’ expectations of $924.83 million. Western Midstream Partners had a return on equity of 46.02% and a net margin of 42.99%. Western Midstream Partners’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.70 earnings per share. Sell-side analysts expect that Western Midstream Partners, LP will post 4.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on WES. US Capital Advisors upgraded Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 26th. StockNews.com lowered shares of Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, October 28th. Bank of America assumed coverage on shares of Western Midstream Partners in a research note on Thursday, October 17th. They set an “underperform” rating and a $37.00 price target for the company. UBS Group reduced their price objective on shares of Western Midstream Partners from $40.00 to $37.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Finally, Morgan Stanley cut Western Midstream Partners from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $42.00 to $40.00 in a research note on Friday, October 25th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Western Midstream Partners has an average rating of “Hold” and a consensus price target of $37.88.

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.