Howard Financial Services LTD. Makes New $384,000 Investment in Western Midstream Partners, LP (NYSE:WES)

Howard Financial Services LTD. acquired a new stake in shares of Western Midstream Partners, LP (NYSE:WES) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 10,000 shares of the pipeline company’s stock, valued at approximately $384,000.

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

Analyst Ratings Changes

A number of equities analysts have issued reports on WES shares. Bank of America assumed coverage on shares of Western Midstream Partners in a research report on Thursday, October 17th. They issued an “underperform” rating and a $37.00 price objective on the stock. US Capital Advisors raised Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 26th. UBS Group cut their price objective on 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. Royal Bank of Canada restated a “sector perform” rating and set a $41.00 target price on shares of Western Midstream Partners in a report on Monday, December 9th. Finally, StockNews.com cut shares of Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, October 28th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Western Midstream Partners has a consensus rating of “Hold” and an average price target of $37.88.

Western Midstream Partners Stock Performance

Shares of Western Midstream Partners stock opened at $41.50 on Friday. The stock has a market cap of $15.79 billion, a price-to-earnings ratio of 10.59, a PEG ratio of 1.24 and a beta of 2.90. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.11 and a quick ratio of 1.11. Western Midstream Partners, LP has a 1 year low of $27.49 and a 1 year high of $42.80. The firm’s 50-day moving average is $39.14 and its 200 day moving average is $39.11.

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

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.