Jennison Associates LLC Has $24.09 Million Stock Position in Western Midstream Partners, LP (NYSE:WES)

Jennison Associates LLC lessened its position in shares of Western Midstream Partners, LP (NYSE:WES - Free Report) by 13.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 588,038 shares of the pipeline company's stock after selling 89,167 shares during the period. Jennison Associates LLC owned approximately 0.15% of Western Midstream Partners worth $24,086,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in WES. Alps Advisors Inc. boosted its stake in Western Midstream Partners by 7.6% in the first quarter. Alps Advisors Inc. now owns 33,824,487 shares of the pipeline company's stock valued at $1,385,451,000 after buying an additional 2,400,891 shares in the last quarter. Invesco Ltd. increased its position in Western Midstream Partners by 6.6% during the 4th quarter. Invesco Ltd. now owns 22,809,161 shares of the pipeline company's stock worth $876,556,000 after purchasing an additional 1,406,362 shares in the last quarter. Tortoise Capital Advisors L.L.C. boosted its position in Western Midstream Partners by 2.0% in the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 8,064,089 shares of the pipeline company's stock valued at $309,903,000 after buying an additional 159,016 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Western Midstream Partners by 23.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,273,186 shares of the pipeline company's stock worth $279,509,000 after buying an additional 1,366,341 shares during the last quarter. Finally, Eagle Global Advisors LLC grew its stake in shares of Western Midstream Partners by 23.2% during the fourth quarter. Eagle Global Advisors LLC now owns 2,434,080 shares of the pipeline company's stock worth $93,542,000 after buying an additional 458,111 shares during the last quarter. Institutional investors and hedge funds own 84.82% of the company's stock.

Western Midstream Partners Trading Up 1.6%

Shares of NYSE WES traded up $0.63 during trading on Thursday, reaching $40.64. The company had a trading volume of 803,796 shares, compared to its average volume of 815,881. The stock has a market cap of $15.50 billion, a P/E ratio of 12.13 and a beta of 1.08. The company's fifty day moving average price is $38.79 and its 200-day moving average price is $39.34. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 2.08. Western Midstream Partners, LP has a 12 month low of $33.60 and a 12 month high of $43.33.

Western Midstream Partners (NYSE:WES - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The pipeline company reported $0.79 EPS for the quarter, missing analysts' consensus estimates of $0.83 by ($0.04). The company had revenue of $917.12 million during the quarter, compared to analyst estimates of $926.55 million. Western Midstream Partners had a return on equity of 38.52% and a net margin of 35.79%. Western Midstream Partners's revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.47 earnings per share. 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Friday, August 1st will be given a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 8.96%. The ex-dividend date is Friday, August 1st. Western Midstream Partners's dividend payout ratio (DPR) is presently 108.66%.

Analyst Ratings Changes

Separately, Mizuho dropped their price objective on shares of 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 given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $39.83.

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.