CIBC Private Wealth Group LLC Reduces Stock Position in Western Midstream Partners, LP (NYSE:WES)

CIBC Private Wealth Group LLC reduced its stake in Western Midstream Partners, LP (NYSE:WES) by 3.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,024,147 shares of the pipeline company’s stock after selling 41,616 shares during the period. CIBC Private Wealth Group LLC owned approximately 0.27% of Western Midstream Partners worth $41,058,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Duff & Phelps Investment Management Co. boosted its stake in Western Midstream Partners by 6,986.8% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 708,683 shares of the pipeline company’s stock worth $27,114,000 after purchasing an additional 698,683 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Western Midstream Partners by 60.1% in the third quarter. JPMorgan Chase & Co. now owns 1,785,105 shares of the pipeline company’s stock worth $68,298,000 after buying an additional 670,440 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Western Midstream Partners in the fourth quarter valued at approximately $19,079,000. Terril Brothers Inc. boosted its position in shares of Western Midstream Partners by 38.4% in the fourth quarter. Terril Brothers Inc. now owns 374,536 shares of the pipeline company’s stock valued at $14,393,000 after acquiring an additional 104,000 shares during the period. Finally, Chickasaw Capital Management LLC grew its stake in Western Midstream Partners by 1.5% during the fourth quarter. Chickasaw Capital Management LLC now owns 6,755,387 shares of the pipeline company’s stock valued at $259,610,000 after acquiring an additional 99,518 shares in the last quarter. 84.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Western Midstream Partners Stock Up 1.1 %

Shares of NYSE:WES opened at $41.49 on Monday. The firm has a market capitalization of $15.82 billion, a PE ratio of 10.58, a price-to-earnings-growth ratio of 1.40 and a beta of 2.88. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.11 and a current ratio of 1.11. Western Midstream Partners, LP has a 52-week low of $33.64 and a 52-week high of $43.33. The firm has a fifty day moving average of $40.84 and a 200 day moving average of $39.57.

Western Midstream Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were issued a $0.875 dividend. This represents a $3.50 dividend on an annualized basis and a dividend yield of 8.44%. The ex-dividend date of this dividend was Monday, February 3rd. Western Midstream Partners’s payout ratio is currently 86.85%.

Western Midstream Partners Company 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.