Chickasaw Capital Management LLC Reduces Position in Western Midstream Partners, LP (NYSE:WES)

Chickasaw Capital Management LLC trimmed its position in shares of Western Midstream Partners, LP (NYSE:WES - Free Report) by 0.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,722,013 shares of the pipeline company's stock after selling 33,374 shares during the period. Western Midstream Partners comprises 10.6% of Chickasaw Capital Management LLC's investment portfolio, making the stock its 4th largest position. Chickasaw Capital Management LLC owned 1.76% of Western Midstream Partners worth $275,334,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of WES. Cary Street Partners Financial LLC purchased a new position in Western Midstream Partners in the 4th quarter worth approximately $39,000. Harbour Investments Inc. increased its stake in Western Midstream Partners by 555.6% in the 4th quarter. Harbour Investments Inc. now owns 1,180 shares of the pipeline company's stock worth $45,000 after purchasing an additional 1,000 shares during the period. Global Retirement Partners LLC purchased a new position in Western Midstream Partners in the 4th quarter worth approximately $51,000. Empowered Funds LLC purchased a new position in Western Midstream Partners in the 4th quarter worth approximately $53,000. Finally, Farther Finance Advisors LLC increased its stake in Western Midstream Partners by 34.7% in the 4th quarter. Farther Finance Advisors LLC now owns 1,935 shares of the pipeline company's stock worth $74,000 after purchasing an additional 498 shares during the period. 84.82% of the stock is owned by hedge funds and other institutional investors.

Western Midstream Partners Trading Up 1.3%

Shares of WES stock traded up $0.50 during trading hours on Friday, reaching $38.18. The company's stock had a trading volume of 509,357 shares, compared to its average volume of 1,235,349. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.05. Western Midstream Partners, LP has a one year low of $33.60 and a one year high of $43.33. The stock has a market capitalization of $14.56 billion, a P/E ratio of 9.74, a P/E/G ratio of 1.40 and a beta of 1.12. The firm's fifty day simple moving average is $37.82 and its 200 day simple moving average is $39.39.

Western Midstream Partners (NYSE:WES - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The pipeline company reported $0.79 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $926.55 million. During the same quarter in the prior year, the firm earned $1.47 earnings per share. The company's revenue for the quarter was up 3.3% compared to the same quarter last year. Equities research analysts expect that Western Midstream Partners, LP will post 4.02 EPS for the current year.

Western Midstream Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Friday, May 2nd were given a dividend of $0.91 per share. The ex-dividend date 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 dividend yield of 9.53%. Western Midstream Partners's payout ratio is currently 108.66%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Wall Street Zen upgraded Western Midstream Partners from a "hold" rating to a "buy" rating in a research report on Saturday, March 8th. Mizuho cut their price objective on Western Midstream Partners from $45.00 to $44.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 20th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Western Midstream Partners has an average rating of "Hold" and a consensus target price of $39.83.

Western Midstream Partners 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.