Cresset Asset Management LLC Takes $1.13 Million Position in Western Midstream Partners, LP (NYSE:WES)

Cresset Asset Management LLC acquired a new stake in shares of Western Midstream Partners, LP (NYSE:WES - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 29,293 shares of the pipeline company's stock, valued at approximately $1,126,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Apollon Wealth Management LLC lifted its holdings in shares of Western Midstream Partners by 1.2% during the 4th quarter. Apollon Wealth Management LLC now owns 25,691 shares of the pipeline company's stock valued at $987,000 after purchasing an additional 295 shares during the last quarter. Integrated Wealth Concepts LLC lifted its holdings in shares of Western Midstream Partners by 4.7% during the 4th quarter. Integrated Wealth Concepts LLC now owns 6,833 shares of the pipeline company's stock valued at $263,000 after purchasing an additional 306 shares during the last quarter. Virtus ETF Advisers LLC lifted its holdings 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 purchasing an additional 311 shares during the last quarter. RE Dickinson Investment Advisors LLC lifted its holdings in shares of Western Midstream Partners by 21.8% during the 4th quarter. RE Dickinson Investment Advisors LLC now owns 2,168 shares of the pipeline company's stock valued at $83,000 after purchasing an additional 388 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Western Midstream Partners by 34.7% during the 4th quarter. Farther Finance Advisors LLC now owns 1,935 shares of the pipeline company's stock valued at $74,000 after purchasing an additional 498 shares during the last quarter. Hedge funds and other institutional investors own 84.82% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Western Midstream Partners from a "hold" rating to a "buy" rating in a report on Saturday, March 8th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $38.33.

Western Midstream Partners Price Performance

NYSE WES opened at $37.16 on Monday. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.11 and a quick ratio of 1.11. The stock's fifty day moving average price is $38.66 and its 200 day moving average price is $39.25. Western Midstream Partners, LP has a 1 year low of $33.60 and a 1 year high of $43.33. The company has a market cap of $14.17 billion, a price-to-earnings ratio of 9.48, a PEG ratio of 1.40 and a beta of 1.12.

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

Western Midstream Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Friday, May 2nd will be given a dividend of $0.91 per share. 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 9.80%. The ex-dividend date is Friday, May 2nd. Western Midstream Partners's dividend payout ratio (DPR) is currently 108.66%.

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.

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.