Western Midstream Partners, LP (NYSE:WES) Shares Acquired by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lifted its position in shares of Western Midstream Partners, LP (NYSE:WES - Free Report) by 28.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,425 shares of the pipeline company's stock after acquiring an additional 7,555 shares during the quarter. Janney Montgomery Scott LLC's holdings in Western Midstream Partners were worth $1,410,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in WES. Princeton Global Asset Management LLC increased its stake in shares of 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 worth $29,000 after acquiring an additional 400 shares during the period. Cary Street Partners Financial LLC acquired a new position in shares of Western Midstream Partners during the fourth quarter worth about $39,000. Harbour Investments Inc. increased its stake 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 worth $45,000 after acquiring an additional 1,000 shares during the period. Global Retirement Partners LLC acquired a new position in Western Midstream Partners during the fourth quarter worth about $51,000. Finally, Farther Finance Advisors LLC grew its position in 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 buying an additional 498 shares during the period. 84.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on WES shares. Wall Street Zen upgraded shares of Western Midstream Partners from a "hold" rating to a "buy" rating in a research report on Saturday, March 8th. Mizuho lowered 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 report on Tuesday, May 20th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $39.83.

Western Midstream Partners Price Performance

WES traded up $0.16 on Friday, hitting $38.54. 897,749 shares of the company were exchanged, compared to its average volume of 1,223,310. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.18 and a current ratio of 1.18. The business's fifty day moving average is $38.13 and its 200 day moving average is $39.28. 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 capitalization of $14.70 billion, a P/E ratio of 11.50 and a beta of 1.09.

Western Midstream Partners (NYSE:WES - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The pipeline company reported $0.79 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.04). The business had revenue of $917.12 million during the quarter, compared to analyst estimates of $926.55 million. Western Midstream Partners had a net margin of 35.79% and a return on equity of 38.52%. The firm's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.47 earnings per share. As a group, sell-side analysts anticipate that Western Midstream Partners, LP will post 4.02 EPS for the current year.

Western Midstream Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Friday, May 2nd were given 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 dividend yield of 9.44%. Western Midstream Partners's dividend payout ratio is currently 108.66%.

About Western Midstream Partners

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.