Fort Washington Investment Advisors Inc. OH Boosts Stock Position in Western Midstream Partners, LP (NYSE:WES)

Fort Washington Investment Advisors Inc. OH boosted its holdings in Western Midstream Partners, LP (NYSE:WES - Free Report) by 254.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 29,180 shares of the pipeline company's stock after purchasing an additional 20,943 shares during the quarter. Fort Washington Investment Advisors Inc. OH's holdings in Western Midstream Partners were worth $1,195,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in WES. Princeton Global Asset Management LLC increased its holdings in Western Midstream Partners by 133.3% in the first quarter. Princeton Global Asset Management LLC now owns 700 shares of the pipeline company's stock worth $29,000 after purchasing an additional 400 shares in the last quarter. 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. increased its holdings in shares of Western Midstream Partners by 555.6% during the fourth quarter. Harbour Investments Inc. now owns 1,180 shares of the pipeline company's stock valued at $45,000 after acquiring an additional 1,000 shares in the last quarter. Global Retirement Partners LLC bought a new stake in shares of Western Midstream Partners during the fourth quarter valued at approximately $51,000. Finally, Empowered Funds LLC bought a new stake in shares of Western Midstream Partners during the fourth quarter valued at approximately $53,000. 84.82% of the stock is currently owned by institutional investors.

Western Midstream Partners Stock Up 0.3%

Shares of NYSE:WES traded up $0.10 during mid-day trading on Friday, hitting $38.83. 820,655 shares of the company traded hands, compared to its average volume of 1,234,787. The stock has a market cap of $14.81 billion, a P/E ratio of 9.91, a P/E/G ratio of 1.40 and a beta of 1.09. 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 12-month low of $33.60 and a 12-month high of $43.33. The stock has a 50-day moving average price of $37.86 and a two-hundred day moving average price of $39.39.

Western Midstream Partners (NYSE:WES - Get Free Report) last announced its earnings results on Wednesday, May 7th. The pipeline company reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.04). The company had revenue of $917.12 million for the quarter, compared to analysts' expectations of $926.55 million. Western Midstream Partners had a net margin of 42.99% and a return on equity of 46.02%. The firm's quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.47 EPS. 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 disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Friday, May 2nd were given a $0.91 dividend. The ex-dividend date was Friday, May 2nd. This represents a $3.64 annualized dividend and a yield of 9.37%. This is a boost from Western Midstream Partners's previous quarterly dividend of $0.88. Western Midstream Partners's payout ratio is currently 108.66%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Wall Street Zen upgraded Western Midstream Partners from a "hold" rating to a "buy" rating in a report on Saturday, March 8th. Mizuho decreased their price objective 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 research analysts have rated the stock with a sell rating, three have given 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.