Daymark Wealth Partners LLC Increases Stake in Western Midstream Partners, LP $WES

Daymark Wealth Partners LLC boosted its stake in shares of Western Midstream Partners, LP (NYSE:WES) by 0.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 45,774 shares of the pipeline company’s stock after acquiring an additional 268 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Western Midstream Partners were worth $1,771,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. ELCO Management Co. LLC grew its holdings in Western Midstream Partners by 6.5% in the second quarter. ELCO Management Co. LLC now owns 60,075 shares of the pipeline company’s stock valued at $2,325,000 after purchasing an additional 3,685 shares during the period. Catalyst Capital Advisors LLC grew its holdings in Western Midstream Partners by 2.4% in the second quarter. Catalyst Capital Advisors LLC now owns 472,420 shares of the pipeline company’s stock valued at $18,283,000 after purchasing an additional 11,055 shares during the period. Cornerstone Management Inc. acquired a new stake in Western Midstream Partners in the second quarter valued at approximately $740,000. Brookstone Capital Management grew its holdings in Western Midstream Partners by 10.7% in the second quarter. Brookstone Capital Management now owns 12,457 shares of the pipeline company’s stock valued at $482,000 after purchasing an additional 1,208 shares during the period. Finally, D.A. Davidson & CO. grew its holdings in Western Midstream Partners by 17.1% in the second quarter. D.A. Davidson & CO. now owns 68,044 shares of the pipeline company’s stock valued at $2,633,000 after purchasing an additional 9,945 shares during the period. 84.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on the company. Mizuho raised their price objective on Western Midstream Partners from $44.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, August 29th. Royal Bank Of Canada raised their price objective on Western Midstream Partners from $38.00 to $39.00 and gave the company a “sector perform” rating in a report on Tuesday, August 26th. Morgan Stanley dropped their price objective on Western Midstream Partners from $41.00 to $39.00 and set an “underweight” rating on the stock in a report on Tuesday, August 26th. Finally, Citigroup initiated coverage on Western Midstream Partners in a research note on Monday, October 20th. They issued a “neutral” rating and a $39.00 price target on the stock. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $40.00.

Western Midstream Partners Stock Performance

Shares of NYSE:WES opened at $38.33 on Thursday. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.30 and a quick ratio of 1.30. The business’s 50 day moving average price is $38.43 and its 200-day moving average price is $38.56. The firm has a market capitalization of $14.62 billion, a PE ratio of 11.79 and a beta of 1.12. Western Midstream Partners, LP has a 1 year low of $33.60 and a 1 year high of $43.33.

Western Midstream Partners (NYSE:WES) last issued its quarterly earnings results on Wednesday, August 6th. The pipeline company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.05. The firm had revenue of $942.32 million for the quarter, compared to analyst estimates of $954.17 million. Western Midstream Partners had a return on equity of 37.70% and a net margin of 34.45%.The business’s revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.97 earnings per share. As a group, equities research analysts expect that Western Midstream Partners, LP will post 4.02 earnings per share for the current fiscal year.

Western Midstream Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be paid a dividend of $0.91 per share. The ex-dividend date of this dividend is Friday, October 31st. This represents a $3.64 dividend on an annualized basis and a yield of 9.5%. Western Midstream Partners’s payout ratio is 112.00%.

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.