Chickasaw Capital Management LLC Cuts Stock Holdings in Western Midstream Partners, LP (NYSE:WES)

Chickasaw Capital Management LLC decreased its holdings in Western Midstream Partners, LP (NYSE:WES - Free Report) by 0.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,722,013 shares of the pipeline company's stock after selling 33,374 shares during the quarter. Western Midstream Partners makes up about 10.6% of Chickasaw Capital Management LLC's investment portfolio, making the stock its 4th largest position. Chickasaw Capital Management LLC owned approximately 1.76% of Western Midstream Partners worth $275,334,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Cary Street Partners Financial LLC bought a new stake in shares of Western Midstream Partners during the fourth quarter valued at approximately $39,000. Harbour Investments Inc. lifted its holdings in Western Midstream Partners by 555.6% during the 4th quarter. Harbour Investments Inc. now owns 1,180 shares of the pipeline company's stock worth $45,000 after buying an additional 1,000 shares in the last quarter. Global Retirement Partners LLC bought a new position in Western Midstream Partners in the 4th quarter valued at $51,000. Empowered Funds LLC acquired a new stake in shares of Western Midstream Partners in the 4th quarter valued at $53,000. Finally, Farther Finance Advisors LLC raised its position in shares of Western Midstream Partners by 34.7% during the fourth quarter. Farther Finance Advisors LLC now owns 1,935 shares of the pipeline company's stock worth $74,000 after acquiring an additional 498 shares during the last quarter. Institutional investors and hedge funds own 84.82% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on WES. Wall Street Zen upgraded Western Midstream Partners from a "hold" rating to a "buy" rating in a research report on Saturday, March 8th. Mizuho reduced their target price on shares of Western Midstream Partners from $45.00 to $44.00 and set an "outperform" rating on the stock 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 issued a buy rating to the stock. Based on data from MarketBeat.com, Western Midstream Partners currently has a consensus rating of "Hold" and a consensus price target of $39.83.

Western Midstream Partners Trading Up 0.1%

NYSE:WES traded up $0.04 during mid-day trading on Thursday, hitting $37.65. The company had a trading volume of 849,846 shares, compared to its average volume of 1,231,783. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.11 and a current ratio of 1.11. Western Midstream Partners, LP has a fifty-two week low of $33.60 and a fifty-two week high of $43.33. The firm has a market cap of $14.36 billion, a P/E ratio of 9.60, a P/E/G ratio of 1.40 and a beta of 1.12. The business's fifty day moving average is $37.94 and its two-hundred day moving average is $39.39.

Western Midstream Partners (NYSE:WES - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The pipeline company reported $0.79 earnings per share for the quarter, missing analysts' consensus estimates of $0.83 by ($0.04). Western Midstream Partners had a net margin of 42.99% and a return on equity of 46.02%. The firm had revenue of $917.12 million during the quarter, compared to analyst estimates of $926.55 million. During the same quarter in the prior year, the business earned $1.47 earnings per share. The business's revenue was up 3.3% on a year-over-year basis. As a group, research analysts expect that Western Midstream Partners, LP will post 4.02 earnings per share for the current year.

Western Midstream Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Friday, May 2nd were issued a $0.91 dividend. The ex-dividend date of this dividend was Friday, May 2nd. This is a positive change from Western Midstream Partners's previous quarterly dividend of $0.88. This represents a $3.64 annualized dividend and a yield of 9.67%. 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.