Apollon Wealth Management LLC Grows Stake in Western Midstream Partners, LP (NYSE:WES)

Apollon Wealth Management LLC lifted its stake in shares of Western Midstream Partners, LP (NYSE:WES) by 1.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 25,691 shares of the pipeline company’s stock after acquiring an additional 295 shares during the period. Apollon Wealth Management LLC’s holdings in Western Midstream Partners were worth $987,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Cedar Mountain Advisors LLC boosted its holdings in shares of Western Midstream Partners by 16.1% during the third 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 during the period. Bleakley Financial Group LLC boosted its holdings in shares of Western Midstream Partners by 5.8% during the third quarter. Bleakley Financial Group LLC now owns 5,711 shares of the pipeline company’s stock worth $218,000 after purchasing an additional 311 shares during the period. Concurrent Investment Advisors LLC boosted its holdings in shares of Western Midstream Partners by 6.2% during the third quarter. Concurrent Investment Advisors LLC now owns 6,053 shares of the pipeline company’s stock worth $232,000 after purchasing an additional 352 shares during the period. Truist Financial Corp boosted its holdings in shares of Western Midstream Partners by 1.9% during the second quarter. Truist Financial Corp now owns 22,508 shares of the pipeline company’s stock worth $894,000 after purchasing an additional 421 shares during the period. Finally, Albert D Mason Inc. boosted its holdings in shares of Western Midstream Partners by 1.0% during the third quarter. Albert D Mason Inc. now owns 49,261 shares of the pipeline company’s stock worth $1,885,000 after purchasing an additional 501 shares during the period. 84.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on WES shares. Bank of America started coverage on shares of Western Midstream Partners in a report on Thursday, October 17th. They set an “underperform” rating and a $37.00 target price for the company. Morgan Stanley lowered shares of Western Midstream Partners from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $42.00 to $40.00 in a report on Friday, October 25th. UBS Group lowered their price objective on shares of Western Midstream Partners from $40.00 to $37.00 and set a “neutral” rating for the company in a report on Friday, November 15th. US Capital Advisors upgraded shares of Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 26th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $41.00 price objective on shares of Western Midstream Partners in a report on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $37.88.

Western Midstream Partners Price Performance

Shares of NYSE WES opened at $40.12 on Wednesday. Western Midstream Partners, LP has a fifty-two week low of $27.89 and a fifty-two week high of $43.33. The company has a 50 day simple moving average of $40.17 and a two-hundred day simple moving average of $39.09. The company has a market capitalization of $15.27 billion, a price-to-earnings ratio of 10.23, a P/E/G ratio of 1.36 and a beta of 2.88. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.11 and a current ratio of 1.11.

Western Midstream Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be given a dividend of $0.875 per share. This represents a $3.50 annualized dividend and a dividend yield of 8.72%. The ex-dividend date of this dividend is Monday, February 3rd. Western Midstream Partners’s dividend payout ratio (DPR) is currently 89.29%.

Western Midstream Partners Company 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.