Howard Financial Services LTD. Invests $384,000 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 the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,000 shares of the pipeline company’s stock, valued at approximately $384,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Cedar Mountain Advisors LLC boosted 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 during the last quarter. Bleakley Financial Group LLC lifted its holdings 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 valued at $218,000 after acquiring an additional 311 shares during the period. Concurrent Investment Advisors LLC boosted its position in 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 grew its stake in shares of Western Midstream Partners by 1.9% during the 2nd 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. increased its position in shares of 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 purchasing an additional 501 shares during the last quarter. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Western Midstream Partners Stock Up 2.0 %

NYSE WES opened at $41.50 on Friday. Western Midstream Partners, LP has a 12 month low of $27.49 and a 12 month high of $42.80. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.05. The stock has a market cap of $15.79 billion, a PE ratio of 10.59, a P/E/G ratio of 1.24 and a beta of 2.90. The stock’s 50 day moving average is $39.14 and its 200 day moving average is $39.11.

Western Midstream Partners (NYSE:WES) last released its earnings results on Wednesday, November 6th. The pipeline company reported $0.74 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.09). The company 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 period last year, the firm posted $0.70 EPS. Research analysts predict that Western Midstream Partners, LP will post 4.03 EPS for the current fiscal year.

Analyst Ratings Changes

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