Alps Advisors Inc. Raises Holdings in Western Midstream Partners, LP (NYSE:WES)

Alps Advisors Inc. grew its holdings in Western Midstream Partners, LP (NYSE:WES - Free Report) by 7.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 33,824,487 shares of the pipeline company's stock after purchasing an additional 2,400,891 shares during the quarter. Western Midstream Partners comprises about 8.0% of Alps Advisors Inc.'s investment portfolio, making the stock its 3rd largest position. Alps Advisors Inc. owned 8.87% of Western Midstream Partners worth $1,385,451,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in WES. Invesco Ltd. grew its holdings in shares of Western Midstream Partners by 6.6% during the fourth quarter. Invesco Ltd. now owns 22,809,161 shares of the pipeline company's stock worth $876,556,000 after buying an additional 1,406,362 shares in the last quarter. Tortoise Capital Advisors L.L.C. grew its stake in 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 valued at $309,903,000 after purchasing an additional 159,016 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Western Midstream Partners by 23.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,273,186 shares of the pipeline company's stock worth $279,509,000 after acquiring an additional 1,366,341 shares during the period. Eagle Global Advisors LLC boosted its stake in shares of Western Midstream Partners by 23.2% during the 4th quarter. Eagle Global Advisors LLC now owns 2,434,080 shares of the pipeline company's stock worth $93,542,000 after acquiring an additional 458,111 shares during the period. Finally, BROOKFIELD Corp ON boosted its stake in shares of Western Midstream Partners by 1.0% during the 4th quarter. BROOKFIELD Corp ON now owns 1,683,790 shares of the pipeline company's stock worth $64,708,000 after acquiring an additional 15,978 shares during the period. Institutional investors and hedge funds own 84.82% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Mizuho dropped their price target on Western Midstream Partners from $45.00 to $44.00 and set an "outperform" rating for the company in a report 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 issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $39.83.

Western Midstream Partners Stock Down 0.1%

Shares of NYSE:WES traded down $0.03 during mid-day trading on Thursday, hitting $39.24. 593,839 shares of the company traded hands, compared to its average volume of 1,222,604. The stock has a market cap of $14.96 billion, a P/E ratio of 11.71 and a beta of 1.08. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 2.08. Western Midstream Partners, LP has a 12-month low of $33.60 and a 12-month high of $43.33. The stock has a 50-day moving average price of $38.28 and a two-hundred day moving average price of $39.27.

Western Midstream Partners (NYSE:WES - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The pipeline company reported $0.79 EPS for the quarter, missing analysts' consensus estimates of $0.83 by ($0.04). The business had revenue of $917.12 million for 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% compared to the same quarter last year. During the same quarter last year, the business posted $1.47 earnings per share. On average, 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 firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Friday, May 2nd were issued a dividend of $0.91 per share. This is a positive change from Western Midstream Partners's previous quarterly dividend of $0.88. This represents a $3.64 dividend on an annualized basis and a yield of 9.28%. The ex-dividend date was Friday, May 2nd. Western Midstream Partners's dividend payout ratio (DPR) is 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.