Daymark Wealth Partners LLC Buys 9,094 Shares of Western Midstream Partners, LP (NYSE:WES)

Daymark Wealth Partners LLC lifted its stake in Western Midstream Partners, LP (NYSE:WES) by 27.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,901 shares of the pipeline company’s stock after acquiring an additional 9,094 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Western Midstream Partners were worth $1,610,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Kayne Anderson Capital Advisors LP raised its stake in Western Midstream Partners by 23.5% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 6,228,448 shares of the pipeline company’s stock valued at $238,300,000 after buying an additional 1,184,597 shares during the last quarter. Duff & Phelps Investment Management Co. increased its position in Western Midstream Partners by 6,986.8% during the third quarter. Duff & Phelps Investment Management Co. now owns 708,683 shares of the pipeline company’s stock valued at $27,114,000 after acquiring an additional 698,683 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in 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 valued at $68,298,000 after acquiring an additional 670,440 shares during the period. ING Groep NV boosted its position in Western Midstream Partners by 81.0% in the third quarter. ING Groep NV now owns 746,587 shares of the pipeline company’s stock worth $28,564,000 after purchasing an additional 334,187 shares during the last quarter. Finally, Citigroup Inc. grew its stake in shares of Western Midstream Partners by 322.1% during the 3rd quarter. Citigroup Inc. now owns 406,587 shares of the pipeline company’s stock valued at $15,556,000 after purchasing an additional 310,260 shares during the period. 84.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Morgan Stanley downgraded shares of Western Midstream Partners from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $42.00 to $40.00 in a report on Friday, October 25th. UBS Group cut 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 report on Friday, November 15th. Bank of America assumed coverage on Western Midstream Partners in a report on Thursday, October 17th. They issued an “underperform” rating and a $37.00 target price on the stock. Royal Bank of Canada reissued a “sector perform” rating and set a $41.00 price target on shares of Western Midstream Partners in a report on Monday, December 9th. Finally, US Capital Advisors raised Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Two equities 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 company. Based on data from MarketBeat, Western Midstream Partners has a consensus rating of “Hold” and an average target price of $37.88.

Western Midstream Partners Stock Performance

NYSE:WES opened at $42.13 on Thursday. The stock has a 50-day moving average price of $39.49 and a 200 day moving average price of $39.12. The stock has a market capitalization of $16.03 billion, a P/E ratio of 10.75, a P/E/G ratio of 1.44 and a beta of 2.90. Western Midstream Partners, LP has a 12-month low of $27.84 and a 12-month 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.

Western Midstream Partners (NYSE:WES) last announced its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.74 earnings per share (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 company had revenue of $883.36 million for the quarter, compared to analysts’ expectations of $924.83 million. During the same period last year, the business earned $0.70 earnings per share. The company’s quarterly revenue was up 13.8% compared to the same quarter last year. Equities research analysts forecast that Western Midstream Partners, LP will post 4.03 EPS for the current fiscal year.

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.