M&T Bank Corp Makes New Investment in Western Midstream Partners, LP (NYSE:WES)

M&T Bank Corp purchased a new stake in Western Midstream Partners, LP (NYSE:WES) during the third quarter, HoldingsChannel reports. The institutional investor purchased 20,000 shares of the pipeline company’s stock, valued at approximately $765,000.

Other institutional investors also recently modified their holdings of the company. Farther Finance Advisors LLC raised its position in Western Midstream Partners by 287.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,437 shares of the pipeline company’s stock valued at $55,000 after buying an additional 1,066 shares during the last quarter. EverSource Wealth Advisors LLC bought a new position in shares of Western Midstream Partners during the 2nd quarter worth approximately $74,000. Cedar Mountain Advisors LLC raised its holdings in shares of Western Midstream Partners by 16.1% in the third quarter. Cedar Mountain Advisors LLC now owns 2,158 shares of the pipeline company’s stock valued at $83,000 after purchasing an additional 299 shares during the last quarter. Millburn Ridgefield Corp bought a new stake in shares of Western Midstream Partners in the third quarter worth $86,000. Finally, Farmers & Merchants Investments Inc. boosted its holdings in Western Midstream Partners by 63.9% during the second quarter. Farmers & Merchants Investments Inc. now owns 2,566 shares of the pipeline company’s stock worth $102,000 after purchasing an additional 1,000 shares during the last quarter. 84.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on WES shares. UBS Group cut their price target on shares of Western Midstream Partners from $40.00 to $37.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Royal Bank of Canada reiterated a “sector perform” rating and set a $41.00 target price on shares of Western Midstream Partners in a report on Monday, December 9th. US Capital Advisors upgraded Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Morgan Stanley lowered Western Midstream Partners from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $42.00 to $40.00 in a research report on Friday, October 25th. Finally, StockNews.com cut shares of Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 28th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, Western Midstream Partners currently has an average rating of “Hold” and a consensus price target of $37.88.

Western Midstream Partners Trading Down 1.4 %

WES stock opened at $39.21 on Tuesday. The stock has a market cap of $14.92 billion, a price-to-earnings ratio of 10.00, a price-to-earnings-growth ratio of 1.08 and a beta of 2.90. The company has a fifty day moving average price of $38.54 and a two-hundred day moving average price of $38.93. Western Midstream Partners, LP has a one year low of $27.44 and a one year high of $42.80. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.11 and a quick ratio of 1.11.

Western Midstream Partners (NYSE:WES) last announced its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.09). The company had revenue of $883.36 million during the quarter, compared to analyst estimates of $924.83 million. Western Midstream Partners had a net margin of 42.99% and a return on equity of 46.02%. The firm’s quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter last year, the company posted $0.70 EPS. Equities analysts anticipate that Western Midstream Partners, LP will post 4.03 EPS for the current year.

Western Midstream Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were paid a dividend of $0.875 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.50 dividend on an annualized basis and a dividend yield of 8.93%. 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.