Allianz Asset Management GmbH grew its stake in Western Midstream Partners, LP (NYSE:WES - Free Report) by 2.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 377,364 shares of the pipeline company's stock after purchasing an additional 7,900 shares during the period. Allianz Asset Management GmbH owned about 0.10% of Western Midstream Partners worth $15,457,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Cambridge Investment Research Advisors Inc. boosted its position in Western Midstream Partners by 10.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 26,483 shares of the pipeline company's stock worth $1,085,000 after purchasing an additional 2,485 shares in the last quarter. Catalyst Capital Advisors LLC boosted its position in Western Midstream Partners by 30.6% in the 1st quarter. Catalyst Capital Advisors LLC now owns 461,365 shares of the pipeline company's stock worth $18,898,000 after purchasing an additional 108,021 shares in the last quarter. CFM Wealth Partners LLC boosted its position in Western Midstream Partners by 28.3% in the 1st quarter. CFM Wealth Partners LLC now owns 44,944 shares of the pipeline company's stock worth $1,841,000 after purchasing an additional 9,904 shares in the last quarter. Bessemer Group Inc. purchased a new stake in Western Midstream Partners in the 1st quarter worth approximately $41,000. Finally, Fort Washington Investment Advisors Inc. OH boosted its position in Western Midstream Partners by 254.3% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 29,180 shares of the pipeline company's stock worth $1,195,000 after purchasing an additional 20,943 shares in the last quarter. Hedge funds and other institutional investors own 84.82% of the company's stock.
Western Midstream Partners Price Performance
Shares of WES stock traded up $0.09 during trading hours on Friday, hitting $40.74. 552,497 shares of the company's stock were exchanged, compared to its average volume of 799,251. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 2.08. The firm has a market cap of $15.54 billion, a P/E ratio of 12.16 and a beta of 1.08. The firm has a 50 day moving average of $38.82 and a two-hundred day moving average of $39.34. Western Midstream Partners, LP has a fifty-two week low of $33.60 and a fifty-two week high of $43.33.
Western Midstream Partners (NYSE:WES - Get Free Report) last posted its quarterly earnings data 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 net margin of 35.79% and a return on equity of 38.52%. 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 prior year, the company posted $1.47 earnings per share. The firm's revenue for the quarter was up 3.3% compared to the same quarter last year. Sell-side analysts forecast that Western Midstream Partners, LP will post 4.02 EPS for the current year.
Western Midstream Partners Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Friday, August 1st will be paid a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 8.93%. The ex-dividend date of this dividend is Friday, August 1st. Western Midstream Partners's dividend payout ratio is currently 108.66%.
Wall Street Analyst Weigh In
Separately, Mizuho reduced their target price on 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 given a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Western Midstream Partners currently has a consensus rating of "Hold" and an average target price of $39.83.
Get Our Latest Analysis on WES
Western Midstream Partners Company Profile
(
Free Report)
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.
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