Pekin Hardy Strauss Inc. Buys 10,200 Shares of Western Midstream Partners, LP (NYSE:WES)

Pekin Hardy Strauss Inc. boosted its stake in shares of Western Midstream Partners, LP (NYSE:WES) by 22.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,815 shares of the pipeline company’s stock after buying an additional 10,200 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Western Midstream Partners were worth $2,135,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its stake in shares of Western Midstream Partners by 287.3% during the third quarter. Farther Finance Advisors LLC now owns 1,437 shares of the pipeline company’s stock valued at $55,000 after acquiring an additional 1,066 shares in the last quarter. EverSource Wealth Advisors LLC bought a new stake in Western Midstream Partners during the 2nd quarter valued at $74,000. Triad Wealth Partners LLC purchased a new stake in shares of Western Midstream Partners in the 2nd quarter worth $78,000. Cedar Mountain Advisors LLC grew its position in shares of Western Midstream Partners by 16.1% during 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 in the last quarter. Finally, Farmers & Merchants Investments Inc. increased its stake in shares of Western Midstream Partners by 63.9% during the second quarter. Farmers & Merchants Investments Inc. now owns 2,566 shares of the pipeline company’s stock valued at $102,000 after buying an additional 1,000 shares during the period. 42.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on WES. Morgan Stanley lowered shares of Western Midstream Partners from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $42.00 to $40.00 in a research note on Friday, October 25th. Royal Bank of Canada upped their price target on shares of Western Midstream Partners from $38.00 to $41.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 16th. StockNews.com lowered shares of Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, October 28th. UBS Group lowered their target price on Western Midstream Partners from $40.00 to $37.00 and set a “neutral” rating for the company in a report on Friday, November 15th. Finally, Stifel Nicolaus lifted their price target on Western Midstream Partners from $39.00 to $40.00 and gave the company a “hold” rating in a report on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $37.88.

Western Midstream Partners Stock Performance

Shares of WES opened at $38.87 on Friday. Western Midstream Partners, LP has a 12 month low of $26.81 and a 12 month high of $42.80. The stock has a fifty day moving average price of $38.33 and a 200-day moving average price of $38.65. 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 firm has a market cap of $14.79 billion, a PE ratio of 9.92, a P/E/G ratio of 1.04 and a beta of 2.88.

Western Midstream Partners (NYSE:WES) last released its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.09). Western Midstream Partners had a net margin of 42.99% and a return on equity of 46.02%. The business had revenue of $883.36 million during the quarter, compared to analysts’ expectations of $924.83 million. During the same quarter last year, the business posted $0.70 earnings per share. The company’s quarterly revenue was up 13.8% compared to the same quarter last year. Equities research analysts predict that Western Midstream Partners, LP will post 4.09 earnings per share for the current fiscal year.

Western Midstream Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were given a dividend of $0.875 per share. This represents a $3.50 annualized dividend and a yield of 9.00%. The ex-dividend date was Friday, November 1st. Western Midstream Partners’s dividend payout ratio is presently 89.29%.

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.