Moody National Bank Trust Division lessened its holdings in shares of Western Midstream Partners, LP (NYSE:WES – Get Rating) by 37.7% during the second quarter, Holdings Channel.com reports. The firm owned 9,447 shares of the pipeline company's stock after selling 5,726 shares during the quarter. Moody National Bank Trust Division's holdings in Western Midstream Partners were worth $230,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the business. Blair William & Co. IL raised its stake in Western Midstream Partners by 5.2% during the first quarter. Blair William & Co. IL now owns 9,492 shares of the pipeline company's stock worth $239,000 after buying an additional 470 shares during the last quarter. Chicago Partners Investment Group LLC raised its stake in Western Midstream Partners by 1.7% during the first quarter. Chicago Partners Investment Group LLC now owns 31,344 shares of the pipeline company's stock worth $812,000 after buying an additional 512 shares during the last quarter. Guggenheim Capital LLC raised its stake in Western Midstream Partners by 3.7% during the first quarter. Guggenheim Capital LLC now owns 15,973 shares of the pipeline company's stock worth $403,000 after buying an additional 565 shares during the last quarter. Advisor Group Holdings Inc. raised its stake in Western Midstream Partners by 6.4% during the first quarter. Advisor Group Holdings Inc. now owns 11,853 shares of the pipeline company's stock worth $234,000 after buying an additional 710 shares during the last quarter. Finally, HighTower Trust Services LTA raised its stake in Western Midstream Partners by 7.5% during the first quarter. HighTower Trust Services LTA now owns 12,297 shares of the pipeline company's stock worth $310,000 after buying an additional 861 shares during the last quarter. Institutional investors and hedge funds own 92.76% of the company's stock.
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Western Midstream Partners Stock Performance
NYSE:WES opened at $27.34 on Wednesday. The company has a debt-to-equity ratio of 2.01, a current ratio of 1.14 and a quick ratio of 1.14. The firm has a 50-day moving average of $27.28 and a 200-day moving average of $25.98. The company has a market cap of $10.57 billion, a PE ratio of 10.20 and a beta of 3.02. Western Midstream Partners, LP has a one year low of $18.89 and a one year high of $29.50.
Western Midstream Partners Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, August 12th. Investors of record on Monday, August 1st were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 7.32%. The ex-dividend date was Friday, July 29th. Western Midstream Partners's dividend payout ratio (DPR) is presently 74.63%.
Wall Street Analyst Weigh In
A number of equities analysts recently weighed in on the stock. Wolfe Research initiated coverage on shares of Western Midstream Partners in a research note on Monday, August 1st. They set a "peer perform" rating for the company. StockNews.com downgraded shares of Western Midstream Partners from a "strong-buy" rating to a "buy" rating in a research note on Friday, July 22nd. Barclays lifted their price target on shares of Western Midstream Partners from $29.00 to $31.00 and gave the company an "overweight" rating in a research note on Wednesday, July 20th. Finally, Morgan Stanley lifted their price target on shares of Western Midstream Partners from $31.00 to $35.00 and gave the company an "overweight" rating in a research note on Wednesday, July 20th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $31.00.
Insider Buying and Selling at Western Midstream Partners
In other news, major shareholder Petroleum Corp /De/ Occidental sold 10,000,000 shares of the business's stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $25.25, for a total value of $252,500,000.00. Following the sale, the insider now owns 190,281,578 shares of the company's stock, valued at $4,804,609,844.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.04% of the company's stock.
Western Midstream Partners Company Profile
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Western Midstream Partners, LP, a midstream energy company, together with its subsidiaries, acquires, owns, develops, and operates 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.
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Want to see what other hedge funds are holding WES? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Western Midstream Partners, LP (NYSE:WES – Get Rating).
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