Miller Howard Investments Inc. NY Cuts Stock Holdings in Western Midstream Partners, LP (NYSE:WES)

Miller Howard Investments Inc. NY lowered its holdings in Western Midstream Partners, LP (NYSE:WES - Free Report) by 8.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,427,187 shares of the pipeline company's stock after selling 140,010 shares during the period. Western Midstream Partners comprises 1.9% of Miller Howard Investments Inc. NY's holdings, making the stock its 16th largest position. Miller Howard Investments Inc. NY owned approximately 0.37% of Western Midstream Partners worth $58,458,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Fidelis Capital Partners LLC bought a new position in shares of Western Midstream Partners during the 4th quarter valued at approximately $256,000. NBW Capital LLC lifted its stake in Western Midstream Partners by 5.2% in the fourth quarter. NBW Capital LLC now owns 301,855 shares of the pipeline company's stock valued at $11,600,000 after purchasing an additional 14,870 shares during the last quarter. Keybank National Association OH grew its holdings in Western Midstream Partners by 7.3% during the fourth quarter. Keybank National Association OH now owns 38,903 shares of the pipeline company's stock valued at $1,495,000 after purchasing an additional 2,660 shares during the period. Raymond James Financial Inc. purchased a new stake in Western Midstream Partners in the fourth quarter worth $19,079,000. Finally, Banco Santander S.A. raised its stake in shares of Western Midstream Partners by 22.8% in the fourth quarter. Banco Santander S.A. now owns 19,974 shares of the pipeline company's stock valued at $768,000 after buying an additional 3,715 shares during the period. Institutional investors own 84.82% of the company's stock.

Western Midstream Partners Price Performance

Shares of Western Midstream Partners stock traded down $0.32 on Thursday, reaching $38.78. The stock had a trading volume of 609,411 shares, compared to its average volume of 1,227,005. The business's 50 day moving average is $38.19 and its two-hundred day moving average is $39.26. The company has a market cap of $14.79 billion, a P/E ratio of 11.57 and a beta of 1.08. Western Midstream Partners, LP has a 1 year low of $33.60 and a 1 year high of $43.33. The company has a current ratio of 1.18, a quick 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 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.04). The firm had revenue of $917.12 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the business earned $1.47 earnings per share. As a group, research 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 disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Friday, May 2nd were paid a dividend of $0.91 per share. This is a positive change from Western Midstream Partners's previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $3.64 annualized dividend and a yield of 9.39%. Western Midstream Partners's dividend payout ratio (DPR) is currently 108.66%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Mizuho cut their price target on Western Midstream Partners from $45.00 to $44.00 and set an "outperform" rating for the company in a research note on Tuesday, May 20th. Wall Street Zen raised shares of Western Midstream Partners from a "hold" rating to a "buy" rating in a report on Saturday, March 8th. Two investment 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. Based on data from MarketBeat.com, the company 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.