Western Midstream Partners, LP (NYSE:WES) Stock Position Reduced by ING Groep NV

ING Groep NV cut its stake in shares of Western Midstream Partners, LP (NYSE:WES) by 30.3% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 520,187 shares of the pipeline company’s stock after selling 226,400 shares during the period. ING Groep NV owned about 0.14% of Western Midstream Partners worth $19,991,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Global Retirement Partners LLC bought a new stake in Western Midstream Partners in the fourth quarter worth approximately $51,000. Empowered Funds LLC acquired a new stake in shares of Western Midstream Partners in the fourth quarter worth $53,000. Farther Finance Advisors LLC lifted its stake in shares of Western Midstream Partners by 287.3% in the third quarter. Farther Finance Advisors LLC now owns 1,437 shares of the pipeline company’s stock worth $55,000 after buying an additional 1,066 shares during the last quarter. Kieckhefer Group LLC acquired a new stake in shares of Western Midstream Partners in the fourth quarter worth $58,000. Finally, Avondale Wealth Management acquired a new stake in shares of Western Midstream Partners in the fourth quarter worth $77,000. 84.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on WES. UBS Group reduced their price objective on shares of 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. US Capital Advisors upgraded shares of Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Morgan Stanley cut shares of Western Midstream Partners from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $42.00 to $40.00 in a research note on Friday, October 25th. 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. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $41.00 target price on shares of Western Midstream Partners in a research note on Monday, December 9th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $37.88.

Western Midstream Partners Trading Up 0.4 %

WES stock opened at $41.52 on Friday. Western Midstream Partners, LP has a 1-year low of $30.01 and a 1-year high of $43.33. 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 business’s 50 day moving average is $40.33 and its 200-day moving average is $39.14. The firm has a market cap of $15.80 billion, a P/E ratio of 10.59, a P/E/G ratio of 1.39 and a beta of 2.88.

Western Midstream Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were paid a $0.875 dividend. This represents a $3.50 annualized dividend and a yield of 8.43%. The ex-dividend date was Monday, February 3rd. Western Midstream Partners’s dividend payout ratio is 89.29%.

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.