Caption Management LLC Purchases New Stake in Western Midstream Partners, LP (NYSE:WES)

Caption Management LLC acquired a new position in shares of Western Midstream Partners, LP (NYSE:WES - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 62,830 shares of the pipeline company's stock, valued at approximately $2,415,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Invesco Ltd. lifted its position in shares of Western Midstream Partners by 6.6% during the 4th quarter. Invesco Ltd. now owns 22,809,161 shares of the pipeline company's stock valued at $876,556,000 after buying an additional 1,406,362 shares during the last quarter. Stifel Financial Corp raised its stake in Western Midstream Partners by 624.5% in the 4th quarter. Stifel Financial Corp now owns 785,096 shares of the pipeline company's stock valued at $30,171,000 after acquiring an additional 676,729 shares during the period. Barclays PLC lifted its holdings in Western Midstream Partners by 83.1% during the fourth quarter. Barclays PLC now owns 1,404,381 shares of the pipeline company's stock valued at $53,971,000 after purchasing an additional 637,266 shares during the last quarter. Raymond James Financial Inc. bought a new position in Western Midstream Partners during the fourth quarter worth about $19,079,000. Finally, Tortoise Capital Advisors L.L.C. increased its stake in shares of Western Midstream Partners by 2.0% in the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 8,064,089 shares of the pipeline company's stock worth $309,903,000 after purchasing an additional 159,016 shares in the last quarter. 84.82% of the stock is currently owned by hedge funds and other institutional investors.

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 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. According to MarketBeat, Western Midstream Partners currently has an average rating of "Hold" and an average price target of $38.43.

Western Midstream Partners Stock Down 1.2 %

WES opened at $35.88 on Tuesday. 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, LP has a one year low of $33.60 and a one year high of $43.33. The firm has a market capitalization of $13.68 billion, a P/E ratio of 9.15, a price-to-earnings-growth ratio of 1.40 and a beta of 1.12. The company has a fifty day moving average price of $38.93 and a 200-day moving average price of $39.31.

Western Midstream Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Friday, May 2nd will be issued a dividend of $0.91 per share. This is a positive change from Western Midstream Partners's previous quarterly dividend of $0.88. The ex-dividend date is Friday, May 2nd. This represents a $3.64 annualized dividend and a dividend yield of 10.14%. Western Midstream Partners's payout ratio is presently 90.32%.

About Western Midstream Partners

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.