Nicholas Wealth LLC. Purchases Shares of 21,640 Western Midstream Partners, LP (NYSE:WES)

Nicholas Wealth LLC. purchased a new stake in shares of Western Midstream Partners, LP (NYSE:WES - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 21,640 shares of the pipeline company's stock, valued at approximately $886,000.

Other institutional investors also recently made changes to their positions in the company. Princeton Global Asset Management LLC lifted its holdings in Western Midstream Partners by 133.3% in the 1st quarter. Princeton Global Asset Management LLC now owns 700 shares of the pipeline company's stock valued at $29,000 after acquiring an additional 400 shares during the last quarter. Cary Street Partners Financial LLC acquired a new stake in Western Midstream Partners during the fourth quarter valued at approximately $39,000. Bessemer Group Inc. bought a new stake in Western Midstream Partners during the first quarter worth approximately $41,000. Creative Financial Designs Inc. ADV acquired a new position in Western Midstream Partners in the first quarter worth approximately $72,000. Finally, RE Dickinson Investment Advisors LLC increased its holdings in shares of Western Midstream Partners by 21.8% in the fourth quarter. RE Dickinson Investment Advisors LLC now owns 2,168 shares of the pipeline company's stock valued at $83,000 after buying an additional 388 shares in the last quarter. 84.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Mizuho reduced their price objective on shares of Western Midstream Partners from $45.00 to $44.00 and set an "outperform" rating for the company in a research note on Tuesday, May 20th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $39.83.

Western Midstream Partners Stock Up 0.2%

Shares of NYSE WES traded up $0.09 during trading hours on Friday, hitting $40.74. The stock had a trading volume of 552,497 shares, compared to its average volume of 799,251. The firm's 50-day moving average price is $38.79 and its two-hundred day moving average price is $39.34. Western Midstream Partners, LP has a 52 week low of $33.60 and a 52 week high of $43.33. The company has a market capitalization of $15.54 billion, a P/E ratio of 12.16 and a beta of 1.08. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.18 and a current ratio of 1.18.

Western Midstream Partners (NYSE:WES - Get Free Report) last posted 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). The business had revenue of $917.12 million during the quarter, compared to the consensus estimate of $926.55 million. Western Midstream Partners had a return on equity of 38.52% and a net margin of 35.79%. The business's revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.47 earnings per share. Analysts anticipate that Western Midstream Partners, LP will post 4.02 EPS for the current fiscal year.

Western Midstream Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Friday, August 1st will be given a $0.91 dividend. The ex-dividend date of this dividend is Friday, August 1st. This represents a $3.64 dividend on an annualized basis and a dividend yield of 8.93%. Western Midstream Partners's dividend payout ratio 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.