Western Midstream Partners (NYSE:WES) Trading Up 3.7% – Here’s What Happened

Western Midstream Partners, LP (NYSE:WES) shot up 3.7% during trading on Monday . The stock traded as high as $40.68 and last traded at $40.35. 1,290,748 shares changed hands during mid-day trading, a decline of 8% from the average session volume of 1,406,820 shares. The stock had previously closed at $38.92.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. StockNews.com upgraded Western Midstream Partners from a “hold” rating to a “buy” rating in a report on Saturday. UBS Group decreased their price target on shares of Western Midstream Partners from $40.00 to $37.00 and set a “neutral” rating on the stock in a research note on Friday, November 15th. US Capital Advisors raised shares of Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $41.00 price objective on shares of Western Midstream Partners in a report on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $38.43.

Western Midstream Partners Trading Up 4.2 %

The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.05. The company’s 50-day moving average is $40.45 and its 200-day moving average is $39.25. The stock has a market capitalization of $15.46 billion, a price-to-earnings ratio of 10.35, a PEG ratio of 1.40 and a beta of 2.88.

Western Midstream Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were given a dividend of $0.875 per share. This represents a $3.50 annualized dividend and a dividend yield of 8.63%. The ex-dividend date was Monday, February 3rd. Western Midstream Partners’s payout ratio is presently 86.85%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Cary Street Partners Financial LLC purchased a new stake in Western Midstream Partners in the fourth quarter valued at $39,000. Harbour Investments Inc. grew its holdings in shares of Western Midstream Partners by 555.6% during the 4th quarter. Harbour Investments Inc. now owns 1,180 shares of the pipeline company’s stock worth $45,000 after purchasing an additional 1,000 shares during the period. Global Retirement Partners LLC acquired a new stake in shares of Western Midstream Partners during the 4th quarter worth about $51,000. Empowered Funds LLC purchased a new stake in Western Midstream Partners in the 4th quarter valued at about $53,000. Finally, Farther Finance Advisors LLC raised its holdings in Western Midstream Partners by 287.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,437 shares of the pipeline company’s stock valued at $55,000 after buying an additional 1,066 shares during the period. 84.82% of the stock is currently owned by institutional investors and hedge funds.

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.