BROOKFIELD Corp ON Lowers Holdings in Western Midstream Partners, LP $WES

Key Points

• BROOKFIELD Corp ON reduced its stake in Western Midstream Partners, LP by 54.9%, owning approximately 0.20% of the company after selling over 924,000 shares in the first quarter.
• Several large investors increased their positions in Western Midstream Partners during the same period, with Alps Advisors Inc. rising by 7.6% and Invesco Ltd. by 7.1%.
• The company announced a quarterly dividend of $0.91 per share, translating to an annualized yield of 9.5%, though its payout ratio is currently at 112.00%.

BROOKFIELD Corp ON lowered its position in Western Midstream Partners, LP (NYSE:WES - Free Report) by 54.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 759,267 shares of the pipeline company's stock after selling 924,523 shares during the period. BROOKFIELD Corp ON owned about 0.20% of Western Midstream Partners worth $31,100,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. grew 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 stake in shares of 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 buying an additional 108,021 shares during the last quarter. CFM Wealth Partners LLC grew its holdings in shares of Western Midstream Partners by 28.3% in the first quarter. CFM Wealth Partners LLC now owns 44,944 shares of the pipeline company's stock valued at $1,841,000 after acquiring an additional 9,904 shares in the last quarter. Bessemer Group Inc. purchased a new stake in shares of Western Midstream Partners during the first quarter valued at approximately $41,000. Finally, Fort Washington Investment Advisors Inc. OH boosted its position in Western Midstream Partners by 254.3% in the first 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 during the last quarter. 84.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on WES. Royal Bank Of Canada raised their target price on Western Midstream Partners from $38.00 to $39.00 and gave the company a "sector perform" rating in a research report on Tuesday, August 26th. Mizuho increased their price target on shares of Western Midstream Partners from $44.00 to $46.00 and gave the company an "outperform" rating in a research report on Friday, August 29th. Finally, Morgan Stanley lowered their price objective on shares of Western Midstream Partners from $41.00 to $39.00 and set an "underweight" rating on the stock in a research report on Tuesday, August 26th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Western Midstream Partners currently has an average rating of "Reduce" and a consensus target price of $39.60.

Western Midstream Partners Stock Performance

Western Midstream Partners stock traded up $0.14 during midday trading on Wednesday, reaching $38.43. The stock had a trading volume of 475,959 shares, compared to its average volume of 1,171,806. The firm has a market capitalization of $14.65 billion, a PE ratio of 11.82 and a beta of 1.17. Western Midstream Partners, LP has a 12 month low of $33.60 and a 12 month high of $43.33. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 2.08. The firm's 50-day moving average price is $39.09 and its 200 day moving average price is $38.78.

Western Midstream Partners (NYSE:WES - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The pipeline company reported $0.87 earnings per share for the quarter, beating analysts' consensus estimates of $0.82 by $0.05. Western Midstream Partners had a net margin of 34.45% and a return on equity of 37.70%. The business had revenue of $942.32 million during the quarter, compared to analyst estimates of $954.17 million. During the same period in the previous year, the business earned $0.97 EPS. Western Midstream Partners's revenue was up 4.1% compared to the same quarter last year. As a group, research analysts predict that Western Midstream Partners, LP will post 4.02 earnings per share for the current fiscal year.

Western Midstream Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Friday, August 1st were paid a $0.91 dividend. The ex-dividend date was Friday, August 1st. This represents a $3.64 annualized dividend and a yield of 9.5%. Western Midstream Partners's dividend payout ratio (DPR) is currently 112.00%.

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.