Bank of America Corp DE Cuts Stock Holdings in Western Midstream Partners, LP (NYSE:WES)

Bank of America Corp DE trimmed its position in Western Midstream Partners, LP (NYSE:WES - Free Report) by 8.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 998,349 shares of the pipeline company's stock after selling 89,779 shares during the period. Bank of America Corp DE owned approximately 0.26% of Western Midstream Partners worth $38,367,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. BNP Paribas Financial Markets grew its stake in shares of Western Midstream Partners by 5.4% during the 4th quarter. BNP Paribas Financial Markets now owns 1,049,979 shares of the pipeline company's stock worth $40,351,000 after purchasing an additional 53,961 shares during the period. Mercer Global Advisors Inc. ADV purchased a new stake in Western Midstream Partners during the fourth quarter worth about $212,000. Comerica Bank grew its position in Western Midstream Partners by 357.4% during the fourth quarter. Comerica Bank now owns 50,666 shares of the pipeline company's stock worth $1,947,000 after buying an additional 39,590 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in Western Midstream Partners in the fourth quarter valued at about $348,000. Finally, Virtus ETF Advisers LLC lifted its position in shares of Western Midstream Partners by 7.3% during the 4th quarter. Virtus ETF Advisers LLC now owns 4,564 shares of the pipeline company's stock valued at $175,000 after acquiring an additional 311 shares during the period. Institutional investors and hedge funds own 84.82% of the company's stock.

Western Midstream Partners Trading Down 1.1%

Shares of Western Midstream Partners stock traded down $0.43 during mid-day trading on Wednesday, hitting $38.71. 116,834 shares of the stock were exchanged, compared to its average volume of 1,230,791. The company has a 50-day simple moving average of $38.64 and a 200 day simple moving average of $39.32. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.05. The stock has a market capitalization of $14.76 billion, a price-to-earnings ratio of 9.88, a price-to-earnings-growth ratio of 1.40 and a beta of 1.12. Western Midstream Partners, LP has a twelve month low of $33.60 and a twelve month high of $43.33.

Western Midstream Partners (NYSE:WES - Get Free Report) last released its earnings results on Wednesday, May 7th. The pipeline company reported $0.79 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.04). Western Midstream Partners had a return on equity of 46.02% and a net margin of 42.99%. The firm had revenue of $917.12 million during the quarter, compared to analysts' expectations of $926.55 million. During the same period in the previous year, the firm posted $1.47 earnings per share. The firm's revenue was up 3.3% on a year-over-year basis. Research analysts forecast that Western Midstream Partners, LP will post 4.02 EPS for the current year.

Western Midstream Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Friday, May 2nd were given a dividend of $0.91 per share. The ex-dividend date was Friday, May 2nd. This is an increase from Western Midstream Partners's previous quarterly dividend of $0.88. This represents a $3.64 annualized dividend and a yield of 9.40%. Western Midstream Partners's dividend payout ratio is 108.66%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Mizuho dropped their price objective on Western Midstream Partners from $45.00 to $44.00 and set an "outperform" rating for the company in a research note on Tuesday. StockNews.com upgraded shares of Western Midstream Partners from a "hold" rating to a "buy" rating in a research report on Saturday, March 8th. Two equities research 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $39.14.

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.