BROOKFIELD Corp ON Has $31.10 Million Stock 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 cut its holdings in Western Midstream Partners, LP (NYSE:WES - Free Report) by 54.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 759,267 shares of the pipeline company's stock after selling 924,523 shares during the period. BROOKFIELD Corp ON owned approximately 0.20% of Western Midstream Partners worth $31,100,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Princeton Global Asset Management LLC boosted its holdings in Western Midstream Partners by 133.3% during the first 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 period. Financial Network Wealth Advisors LLC boosted its holdings in Western Midstream Partners by 1,856.4% during the first quarter. Financial Network Wealth Advisors LLC now owns 763 shares of the pipeline company's stock valued at $31,000 after acquiring an additional 724 shares during the period. Bessemer Group Inc. bought a new stake in Western Midstream Partners during the first quarter valued at about $41,000. Creative Financial Designs Inc. ADV bought a new stake in Western Midstream Partners during the first quarter valued at about $72,000. Finally, Militia Capital Partners LP bought a new stake in Western Midstream Partners during the first quarter valued at about $123,000. 84.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on WES shares. Royal Bank Of Canada upped their price objective on shares of 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 upped their price objective 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 cut their price objective on shares of Western Midstream Partners from $41.00 to $39.00 and set an "underweight" rating for the company in a research report on Tuesday, August 26th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Reduce" and a consensus target price of $39.60.

Western Midstream Partners Price Performance

NYSE:WES traded up $0.03 during mid-day trading on Friday, hitting $38.40. The company's stock had a trading volume of 963,135 shares, compared to its average volume of 1,055,650. Western Midstream Partners, LP has a fifty-two week low of $33.60 and a fifty-two week high of $43.33. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 2.08. The company has a market capitalization of $14.64 billion, a price-to-earnings ratio of 11.82 and a beta of 1.18. The stock has a fifty day moving average of $39.13 and a 200-day moving average of $38.80.

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

Western Midstream Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 1st were issued a dividend of $0.91 per share. The ex-dividend date of this dividend was Friday, August 1st. This represents a $3.64 annualized dividend and a dividend yield of 9.5%. Western Midstream Partners's dividend payout ratio (DPR) is presently 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.