Lindbrook Capital LLC Has $435,000 Stock Position in Western Midstream Partners, LP (NYSE:WES)

Lindbrook Capital LLC cut its holdings in Western Midstream Partners, LP (NYSE:WES - Free Report) by 62.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Alps Advisors Inc. increased its holdings 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 purchasing an additional 2,400,891 shares during the period. Invesco Ltd. lifted its stake in shares of Western Midstream Partners by 6.6% in the fourth quarter. Invesco Ltd. now owns 22,809,161 shares of the pipeline company's stock worth $876,556,000 after acquiring an additional 1,406,362 shares during the period. Tortoise Capital Advisors L.L.C. lifted its stake in shares of 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 worth $309,903,000 after acquiring an additional 159,016 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Western Midstream Partners by 23.1% in 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 acquiring an additional 1,366,341 shares during the period. Finally, Eagle Global Advisors LLC lifted its stake in shares of Western Midstream Partners by 23.2% in the fourth quarter. Eagle Global Advisors LLC now owns 2,434,080 shares of the pipeline company's stock worth $93,542,000 after acquiring an additional 458,111 shares during the period. 84.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, 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 note on Tuesday, May 20th. Two investment 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. According to MarketBeat.com, Western Midstream Partners currently has a consensus rating of "Hold" and an average price target of $39.83.

Western Midstream Partners Trading Down 0.4%

NYSE WES opened at $40.44 on Monday. The company has a market cap of $15.42 billion, a price-to-earnings ratio of 12.07 and a beta of 1.08. Western Midstream Partners, LP has a 52 week low of $33.60 and a 52 week high of $43.33. The business has a 50 day moving average price of $38.74 and a 200-day moving average price of $39.32. 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 (NYSE:WES - Get Free Report) last announced its quarterly 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). Western Midstream Partners had a return on equity of 38.52% and a net margin of 35.79%. The company had revenue of $917.12 million for the quarter, compared to the consensus estimate of $926.55 million. During the same quarter last year, the company posted $1.47 EPS. The company's quarterly revenue was up 3.3% compared to the same quarter last year. As a group, equities analysts expect that Western Midstream Partners, LP will post 4.02 earnings per share for the current fiscal year.

Western Midstream Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Friday, May 2nd were issued a dividend of $0.91 per share. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $3.64 annualized dividend and a yield of 9.00%. This is an increase from Western Midstream Partners's previous quarterly dividend of $0.88. Western Midstream Partners's dividend payout ratio is 108.66%.

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.

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