Summit Financial LLC Boosts Stock Holdings in Western Midstream Partners, LP (NYSE:WES)

Summit Financial LLC grew its holdings in Western Midstream Partners, LP (NYSE:WES) by 2.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 93,977 shares of the pipeline company’s stock after purchasing an additional 2,409 shares during the quarter. Summit Financial LLC’s holdings in Western Midstream Partners were worth $3,612,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Harbour Investments Inc. raised its stake in Western Midstream Partners by 555.6% in the fourth quarter. Harbour Investments Inc. now owns 1,180 shares of the pipeline company’s stock worth $45,000 after buying an additional 1,000 shares in the last quarter. Global Retirement Partners LLC purchased a new position in shares of Western Midstream Partners in the 4th quarter valued at $51,000. Empowered Funds LLC bought a new position in shares of Western Midstream Partners in the 4th quarter worth $53,000. Kieckhefer Group LLC bought a new stake in Western Midstream Partners during the fourth quarter valued at about $58,000. Finally, Farther Finance Advisors LLC grew its stake in Western Midstream Partners by 34.7% in the fourth quarter. Farther Finance Advisors LLC now owns 1,935 shares of the pipeline company’s stock valued at $74,000 after purchasing an additional 498 shares during the last quarter. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Wall Street Analyst Weigh In

WES has been the subject of several analyst reports. Royal Bank of Canada reissued a “sector perform” rating and set a $41.00 price target on shares of Western Midstream Partners in a research report on Monday, December 9th. StockNews.com upgraded shares of Western Midstream Partners from a “hold” rating to a “buy” rating in a research note on Saturday, March 8th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $38.43.

Western Midstream Partners Stock Down 1.3 %

WES stock opened at $40.94 on Tuesday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.05. Western Midstream Partners, LP has a 52 week low of $33.64 and a 52 week high of $43.33. The stock has a market capitalization of $15.61 billion, a PE ratio of 10.44, a price-to-earnings-growth ratio of 1.40 and a beta of 2.88. The firm has a 50 day moving average of $40.83 and a 200 day moving average of $39.59.

Western Midstream Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were issued a dividend of $0.875 per share. This represents a $3.50 dividend on an annualized basis and a dividend yield of 8.55%. The ex-dividend date of this dividend was Monday, February 3rd. Western Midstream Partners’s dividend payout ratio (DPR) is presently 86.85%.

Western Midstream Partners 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.