Christopher Dial Sells 5,879 Shares of Western Midstream Partners (NYSE:WES) Stock

Western Midstream Partners, LP (NYSE:WES) SVP Christopher Dial sold 5,879 shares of Western Midstream Partners stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $42.35, for a total transaction of $248,975.65. Following the completion of the transaction, the senior vice president directly owned 185,011 shares of the company’s stock, valued at approximately $7,835,215.85. This trade represents a 3.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Western Midstream Partners Stock Up 2.6%

Shares of WES stock opened at $43.46 on Friday. Western Midstream Partners, LP has a 52-week low of $33.60 and a 52-week high of $43.65. The stock has a market cap of $17.73 billion, a price-to-earnings ratio of 12.86 and a beta of 0.77. The firm’s 50-day moving average is $40.43 and its 200-day moving average is $39.27. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.43 and a current ratio of 1.43.

Western Midstream Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Monday, February 2nd were issued a dividend of $0.91 per share. The ex-dividend date of this dividend was Monday, February 2nd. This represents a $3.64 annualized dividend and a yield of 8.4%. Western Midstream Partners’s dividend payout ratio (DPR) is currently 107.69%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of WES. Kestra Advisory Services LLC grew its stake in Western Midstream Partners by 2.0% during the fourth quarter. Kestra Advisory Services LLC now owns 56,912 shares of the pipeline company’s stock worth $2,248,000 after buying an additional 1,132 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in shares of Western Midstream Partners by 25.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 65,438 shares of the pipeline company’s stock worth $2,585,000 after acquiring an additional 13,223 shares in the last quarter. BROOKFIELD Corp ON boosted its position in shares of Western Midstream Partners by 621.9% during the 4th quarter. BROOKFIELD Corp ON now owns 680,884 shares of the pipeline company’s stock worth $26,895,000 after acquiring an additional 586,568 shares in the last quarter. Virtus Advisers LLC bought a new position in Western Midstream Partners in the fourth quarter valued at approximately $191,000. Finally, Morgan Stanley raised its position in Western Midstream Partners by 98.1% during the fourth quarter. Morgan Stanley now owns 5,446,475 shares of the pipeline company’s stock valued at $215,136,000 after purchasing an additional 2,696,439 shares in the last quarter. Institutional investors and hedge funds own 84.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Stifel Nicolaus set a $43.00 price objective on Western Midstream Partners in a report on Thursday, November 6th. Wells Fargo & Company decreased their price objective on Western Midstream Partners from $40.00 to $39.00 and set an “equal weight” rating on the stock in a report on Thursday, January 22nd. Wall Street Zen downgraded Western Midstream Partners from a “buy” rating to a “hold” rating in a report on Saturday, December 27th. Royal Bank Of Canada upped their price target on shares of Western Midstream Partners from $39.00 to $42.00 and gave the company a “sector perform” rating in a research note on Friday, November 28th. Finally, Citigroup assumed coverage on shares of Western Midstream Partners in a research note on Monday, October 20th. They issued a “neutral” rating and a $39.00 price objective for the company. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $41.33.

About Western Midstream Partners

Western Midstream Partners, LP (NYSE: WES) is a midstream energy infrastructure company that owns, operates and develops an integrated network of crude oil, natural gas and produced water gathering, processing, transportation and storage assets in the United States. The partnership’s primary offerings include pipeline transportation, fractionation services, natural gas liquids (NGL) logistics and produced water handling. Through its fee-based and commodity-based contracts, Western Midstream provides its customers with essential services that support efficient energy production and distribution.

The company’s asset portfolio spans key onshore basins, including the Delaware Basin in West Texas and southeastern New Mexico, the San Juan Basin in New Mexico and Colorado, and the Denver-Julesburg Basin in Colorado.