Tectonic Advisors LLC Purchases 3,130 Shares of Western Midstream Partners, LP (NYSE:WES)

Tectonic Advisors LLC raised its position in Western Midstream Partners, LP (NYSE:WES) by 2.4% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 136,278 shares of the pipeline company’s stock after acquiring an additional 3,130 shares during the period. Tectonic Advisors LLC’s holdings in Western Midstream Partners were worth $5,237,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of WES. Farther Finance Advisors LLC lifted its stake in Western Midstream Partners by 287.3% in the 3rd 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. Kieckhefer Group LLC bought a new stake in Western Midstream Partners in the 4th quarter valued at approximately $58,000. Avondale Wealth Management bought a new stake in shares of Western Midstream Partners during the 4th quarter worth approximately $77,000. Cedar Mountain Advisors LLC raised its stake 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 purchasing an additional 299 shares in the last quarter. Finally, Millburn Ridgefield Corp bought a new stake in shares of Western Midstream Partners during the 3rd quarter worth approximately $86,000. Institutional investors own 84.82% of the company’s stock.

Western Midstream Partners Stock Performance

Shares of NYSE WES opened at $40.73 on Wednesday. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.11 and a quick ratio of 1.11. The stock’s fifty day moving average price is $40.12 and its two-hundred day moving average price is $39.11. Western Midstream Partners, LP has a one year low of $27.84 and a one year high of $43.33. The firm has a market cap of $15.50 billion, a price-to-earnings ratio of 10.39, a P/E/G ratio of 1.38 and a beta of 2.88.

Western Midstream Partners (NYSE:WES) last issued its quarterly earnings data 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 firm had revenue of $883.36 million during the quarter, compared to analyst estimates of $924.83 million. During the same period in the prior year, the company earned $0.70 earnings per share. The business’s quarterly revenue was up 13.8% compared to the same quarter last year. On average, equities analysts forecast that Western Midstream Partners, LP will post 4.02 EPS for the current year.

Western Midstream Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be issued a $0.875 dividend. This represents a $3.50 dividend on an annualized basis and a yield of 8.59%. The ex-dividend date of this dividend is Monday, February 3rd. Western Midstream Partners’s dividend payout ratio is 89.29%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WES. US Capital Advisors upgraded Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. StockNews.com cut Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 28th. Bank of America began coverage on Western Midstream Partners in a research note on Thursday, October 17th. They set an “underperform” rating and a $37.00 price objective on the stock. Morgan Stanley cut 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 research note on Friday, October 25th. Finally, UBS Group dropped their price objective on Western Midstream Partners from $40.00 to $37.00 and set a “neutral” rating on the stock in a research note on Friday, November 15th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $37.88.

Western Midstream Partners 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.