Avidian Wealth Solutions LLC lifted its position in shares of Western Midstream Partners, LP (NYSE:WES) by 6.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,882 shares of the pipeline company’s stock after acquiring an additional 673 shares during the period. Avidian Wealth Solutions LLC’s holdings in Western Midstream Partners were worth $228,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently modified their holdings of the company. Blackstone Inc lifted its holdings in shares of Western Midstream Partners by 10.3% during the 2nd quarter. Blackstone Inc now owns 20,023,150 shares of the pipeline company’s stock worth $428,896,000 after acquiring an additional 1,865,730 shares during the period. JPMorgan Chase & Co. increased its position in Western Midstream Partners by 12.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,389,019 shares of the pipeline company’s stock valued at $136,852,000 after acquiring an additional 685,009 shares during the period. Goldman Sachs Group Inc. increased its position in Western Midstream Partners by 8.8% in the 2nd quarter. Goldman Sachs Group Inc. now owns 5,642,392 shares of the pipeline company’s stock valued at $120,860,000 after acquiring an additional 457,733 shares during the period. Clearbridge Investments LLC increased its position in Western Midstream Partners by 5.8% in the 2nd quarter. Clearbridge Investments LLC now owns 3,903,065 shares of the pipeline company’s stock valued at $83,604,000 after acquiring an additional 214,000 shares during the period. Finally, Brookfield Asset Management Inc. increased its position in Western Midstream Partners by 51.5% in the 2nd quarter. Brookfield Asset Management Inc. now owns 3,272,539 shares of the pipeline company’s stock valued at $70,098,000 after acquiring an additional 1,112,411 shares during the period. 41.25% of the stock is owned by institutional investors.
NYSE:WES opened at $24.04 on Friday. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 2.07. The stock has a market capitalization of $9.93 billion, a price-to-earnings ratio of 10.83 and a beta of 3.77. The firm has a fifty day simple moving average of $21.30 and a two-hundred day simple moving average of $20.84. Western Midstream Partners, LP has a 12 month low of $14.09 and a 12 month high of $24.42.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 12th. Shareholders of record on Monday, November 1st were paid a $0.323 dividend. This represents a $1.29 dividend on an annualized basis and a dividend yield of 5.37%. The ex-dividend date was Friday, October 29th. Western Midstream Partners’s dividend payout ratio (DPR) is 58.11%.
In other Western Midstream Partners news, major shareholder Petroleum Corp /De/ Occidental sold 2,500,000 shares of the firm’s stock in a transaction on Monday, December 13th. The shares were sold at an average price of $20.09, for a total value of $50,225,000.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.04% of the stock is currently owned by company insiders.
WES has been the subject of several recent research reports. Bank of America initiated coverage on shares of Western Midstream Partners in a research report on Tuesday, September 28th. They issued a “buy” rating for the company. Wells Fargo & Company increased their price objective on shares of Western Midstream Partners from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Thursday, December 16th. Finally, Zacks Investment Research cut shares of Western Midstream Partners from a “buy” rating to a “hold” rating in a research report on Friday, September 17th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $24.00.
About Western Midstream Partners
Western Midstream Partners LP owns, operates, acquires and develops midstream energy assets. It engages in the business of gathering, processing, compressing, treating, and transporting natural gas, condensate, natural gas liquids, and crude oil for Anadarko, as well as third-party producers and customers.
Featured Story: Municipal Bonds
Receive News & Ratings for Western Midstream Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Midstream Partners and related companies with MarketBeat.com's FREE daily email newsletter.