Envestnet Asset Management Inc. Raises Holdings in Western Midstream Partners LP (NYSE:WES)

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Envestnet Asset Management Inc. boosted its stake in shares of Western Midstream Partners LP (NYSE:WES) by 16.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,397 shares of the pipeline company’s stock after acquiring an additional 4,902 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Western Midstream Partners were worth $856,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of WES. Invesco Ltd. boosted its holdings in Western Midstream Partners by 7,463.7% during the 2nd quarter. Invesco Ltd. now owns 9,408,687 shares of the pipeline company’s stock valued at $289,505,000 after acquiring an additional 9,284,294 shares during the period. Bank of Montreal Can boosted its holdings in Western Midstream Partners by 95.2% during the 2nd quarter. Bank of Montreal Can now owns 3,468,071 shares of the pipeline company’s stock valued at $106,713,000 after acquiring an additional 1,691,783 shares during the period. Wells Fargo & Company MN boosted its holdings in Western Midstream Partners by 65.3% during the 2nd quarter. Wells Fargo & Company MN now owns 2,210,919 shares of the pipeline company’s stock valued at $68,030,000 after acquiring an additional 873,416 shares during the period. Morgan Stanley raised its position in Western Midstream Partners by 50.5% during the 2nd quarter. Morgan Stanley now owns 2,445,741 shares of the pipeline company’s stock valued at $75,255,000 after purchasing an additional 820,262 shares during the last quarter. Finally, CIBC Private Wealth Group LLC raised its position in Western Midstream Partners by 34.7% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,937,110 shares of the pipeline company’s stock valued at $73,105,000 after purchasing an additional 756,133 shares during the last quarter. Institutional investors own 41.03% of the company’s stock.

In other news, Director David J. Tudor sold 5,000 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $27.00, for a total value of $135,000.00. 0.01% of the stock is currently owned by corporate insiders.

Shares of NYSE:WES opened at $20.03 on Friday. Western Midstream Partners LP has a 52-week low of $19.14 and a 52-week high of $35.75. The firm has a market capitalization of $8.81 billion, a P/E ratio of 7.98, a P/E/G ratio of 2.21 and a beta of 1.43. The stock has a 50 day moving average price of $23.49 and a 200-day moving average price of $27.16. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.67 and a current ratio of 0.66.

Western Midstream Partners (NYSE:WES) last announced its earnings results on Monday, November 4th. The pipeline company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.20). Western Midstream Partners had a return on equity of 15.32% and a net margin of 18.35%. The firm had revenue of $666.03 million during the quarter, compared to the consensus estimate of $688.91 million. During the same period in the prior year, the company posted $0.39 EPS. The firm’s revenue was up 13.3% on a year-over-year basis. On average, equities analysts forecast that Western Midstream Partners LP will post 1.43 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 13th. Stockholders of record on Friday, November 1st will be given a $0.62 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.48 annualized dividend and a dividend yield of 12.38%. This is a positive change from Western Midstream Partners’s previous quarterly dividend of $0.62. Western Midstream Partners’s dividend payout ratio is currently 98.80%.

A number of research firms have commented on WES. Zacks Investment Research raised Western Midstream Partners from a “strong sell” rating to a “hold” rating in a research report on Saturday. ValuEngine raised Western Midstream Partners from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Citigroup lowered their price target on Western Midstream Partners from $35.00 to $26.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. Bank of America lowered their price target on Western Midstream Partners from $35.00 to $29.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th. Finally, UBS Group lowered Western Midstream Partners from a “buy” rating to a “neutral” rating and lowered their price target for the company from $40.00 to $27.00 in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $32.08.

Western Midstream Partners Company Profile

Western Midstream Partners, LP, together with its subsidiaries, engages in gathering, processing, compressing, treating, stabilizing, and transporting natural gas, condensate, natural gas liquids, and crude oil primarily in the United States. It is also involved in the gathering and disposing of produced water; and buying and selling of natural gas.

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Institutional Ownership by Quarter for Western Midstream Partners (NYSE:WES)

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