Lindbrook Capital LLC Sells 17,761 Shares of Western Midstream Partners, LP (NYSE:WES)

Lindbrook Capital LLC lessened its holdings in Western Midstream Partners, LP (NYSE:WES - Free Report) by 62.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,621 shares of the pipeline company's stock after selling 17,761 shares during the quarter. Lindbrook Capital LLC's holdings in Western Midstream Partners were worth $435,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Alps Advisors Inc. lifted its position in shares of Western Midstream Partners by 7.6% during the 1st 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 during the last quarter. Invesco Ltd. lifted its holdings 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Western Midstream Partners by 23.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,273,186 shares of the pipeline company's stock worth $279,509,000 after purchasing an additional 1,366,341 shares in the last quarter. Stifel Financial Corp lifted its holdings in Western Midstream Partners by 624.5% during the 4th quarter. Stifel Financial Corp now owns 785,096 shares of the pipeline company's stock worth $30,171,000 after purchasing an additional 676,729 shares in the last quarter. Finally, Barclays PLC lifted its holdings in Western Midstream Partners by 83.1% during the 4th quarter. Barclays PLC now owns 1,404,381 shares of the pipeline company's stock worth $53,971,000 after purchasing an additional 637,266 shares in the last quarter. Institutional investors own 84.82% of the company's stock.

Western Midstream Partners Price Performance

Shares of NYSE:WES traded up $0.65 on Thursday, hitting $40.66. The company's stock had a trading volume of 253,113 shares, compared to its average volume of 1,149,423. The company has a 50-day simple moving average of $38.77 and a 200 day simple moving average of $39.33. Western Midstream Partners, LP has a 1 year low of $33.60 and a 1 year high of $43.33. The company has a market capitalization of $15.50 billion, a PE ratio of 12.14 and a beta of 1.08. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.18 and a quick ratio of 1.18.

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 35.79% and a return on equity of 38.52%. The business had revenue of $917.12 million during the quarter, compared to analysts' expectations of $926.55 million. During the same period in the previous year, the business earned $1.47 EPS. The business's revenue was up 3.3% on a year-over-year basis. Sell-side analysts forecast that Western Midstream Partners, LP will post 4.02 EPS for the current fiscal year.

Western Midstream Partners Announces Dividend

The company 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 dividend of $0.91 per share. The ex-dividend date of this dividend is Friday, August 1st. This represents a $3.64 annualized dividend and a dividend yield of 8.95%. Western Midstream Partners's dividend payout ratio (DPR) is presently 108.66%.

Analyst Ratings Changes

Separately, Mizuho dropped their price objective on Western Midstream Partners from $45.00 to $44.00 and set an "outperform" rating on the stock in a report on Tuesday, May 20th. Two equities 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 company's stock. According to MarketBeat, the stock presently has a consensus 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.