Raymond James Financial Inc. Acquires New Holdings in Western Midstream Partners, LP (NYSE:WES)

Raymond James Financial Inc. acquired a new position in shares of Western Midstream Partners, LP (NYSE:WES - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 496,468 shares of the pipeline company's stock, valued at approximately $19,079,000. Raymond James Financial Inc. owned about 0.13% of Western Midstream Partners as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Harbour Investments Inc. lifted its holdings in Western Midstream Partners by 555.6% during the 4th quarter. Harbour Investments Inc. now owns 1,180 shares of the pipeline company's stock worth $45,000 after purchasing an additional 1,000 shares during the last quarter. Global Retirement Partners LLC acquired a new stake in shares of Western Midstream Partners during the fourth quarter worth $51,000. Empowered Funds LLC bought a new stake in shares of Western Midstream Partners in the fourth quarter valued at about $53,000. Kieckhefer Group LLC acquired a new position in shares of Western Midstream Partners in the fourth quarter valued at about $58,000. Finally, Farther Finance Advisors LLC increased its position in Western Midstream Partners by 34.7% during the fourth quarter. Farther Finance Advisors LLC now owns 1,935 shares of the pipeline company's stock worth $74,000 after acquiring an additional 498 shares during the period. Institutional investors own 84.82% of the company's stock.

Western Midstream Partners Price Performance

WES stock traded down $0.79 during mid-day trading on Friday, hitting $38.38. The stock had a trading volume of 207,659 shares, compared to its average volume of 1,285,091. The firm has a fifty day simple moving average of $39.40 and a 200 day simple moving average of $39.38. The firm has a market capitalization of $14.64 billion, a P/E ratio of 9.79, a P/E/G ratio of 1.40 and a beta of 2.40. 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, LP has a 52 week low of $33.60 and a 52 week high of $43.33.

Western Midstream Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Friday, May 2nd will be paid a $0.91 dividend. This is a positive change from Western Midstream Partners's previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Friday, May 2nd. This represents a $3.64 annualized dividend and a dividend yield of 9.48%. Western Midstream Partners's dividend payout ratio (DPR) is presently 90.32%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Western Midstream Partners from a "hold" rating to a "buy" rating in a report on Saturday, March 8th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $38.43.

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.