Cresset Asset Management LLC Purchases Shares of 29,293 Western Midstream Partners, LP (NYSE:WES)

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

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Caption Management LLC acquired a new position in shares of Western Midstream Partners during the 4th quarter worth approximately $2,415,000. Cetera Investment Advisers lifted its position in shares of Western Midstream Partners by 68.4% during the 4th quarter. Cetera Investment Advisers now owns 48,800 shares of the pipeline company's stock worth $1,875,000 after buying an additional 19,826 shares during the last quarter. BROOKFIELD Corp ON increased its holdings in Western Midstream Partners by 1.0% in the 4th quarter. BROOKFIELD Corp ON now owns 1,683,790 shares of the pipeline company's stock worth $64,708,000 after purchasing an additional 15,978 shares in the last quarter. Captrust Financial Advisors increased its stake in shares of Western Midstream Partners by 1.9% in the fourth quarter. Captrust Financial Advisors now owns 53,328 shares of the pipeline company's stock valued at $2,049,000 after buying an additional 972 shares during the period. Finally, Cary Street Partners Financial LLC acquired a new stake in shares of Western Midstream Partners in the fourth quarter valued at about $39,000. Institutional investors own 84.82% of the company's stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised 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 issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Western Midstream Partners presently has an average rating of "Hold" and an average target price of $38.33.

Western Midstream Partners Trading Up 0.1%

NYSE WES traded up $0.04 on Friday, hitting $39.59. The company's stock had a trading volume of 724,815 shares, compared to its average volume of 1,243,034. Western Midstream Partners, LP has a 52-week low of $33.60 and a 52-week high of $43.33. 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 company's 50-day simple moving average is $38.67 and its 200 day simple moving average is $39.29. The firm has a market cap of $15.10 billion, a P/E ratio of 10.10, a PEG ratio of 1.40 and a beta of 1.12.

Western Midstream Partners (NYSE:WES - Get Free Report) last announced 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 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 the consensus estimate of $926.55 million. During the same period in the prior year, the company posted $1.47 EPS. The firm's revenue was up 3.3% on a year-over-year basis. Research analysts predict that Western Midstream Partners, LP will post 4.02 EPS for the current fiscal year.

Western Midstream Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Friday, May 2nd were paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 9.19%. This is an increase from Western Midstream Partners's previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Friday, May 2nd. Western Midstream Partners's dividend payout ratio (DPR) is currently 108.66%.

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.