Western Midstream Partners, LP $WES Shares Purchased by Miller Howard Investments Inc. NY

Key Points

• Miller Howard Investments Inc. NY increased its stake in Western Midstream Partners by 2.9% in Q2, owning 1,469,279 shares valued at $56.86 million.
• Several institutional investors have also boosted their holdings in Western Midstream Partners, with notable increases from Cambridge Investment Research Advisors Inc. by 10.4% and Catalyst Capital Advisors LLC by 30.6% in Q1.
• Western Midstream Partners reported earnings of $0.87 per share for the last quarter, surpassing estimates of $0.82, along with a quarterly dividend of $0.91 per share, reflecting a strong dividend yield of 9.5%.

Miller Howard Investments Inc. NY boosted its holdings in Western Midstream Partners, LP (NYSE:WES - Free Report) by 2.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,469,279 shares of the pipeline company's stock after purchasing an additional 42,092 shares during the quarter. Western Midstream Partners comprises 1.8% of Miller Howard Investments Inc. NY's investment portfolio, making the stock its 19th largest holding. Miller Howard Investments Inc. NY owned 0.39% of Western Midstream Partners worth $56,861,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Kingstone Capital Partners Texas LLC acquired a new position in Western Midstream Partners during the second quarter valued at approximately $156,967,000. Alps Advisors Inc. increased its stake in Western Midstream Partners by 7.6% during 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 last quarter. Invesco Ltd. grew its position in shares of Western Midstream Partners by 7.1% during the first quarter. Invesco Ltd. now owns 24,417,770 shares of the pipeline company's stock worth $1,000,152,000 after acquiring an additional 1,608,609 shares during the last quarter. Longfellow Investment Management Co. LLC grew its position in shares of Western Midstream Partners by 90.5% during the first quarter. Longfellow Investment Management Co. LLC now owns 985,718 shares of the pipeline company's stock worth $40,375,000 after acquiring an additional 468,303 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in Western Midstream Partners by 2,725.4% in the first quarter. Northern Trust Corp now owns 367,330 shares of the pipeline company's stock worth $15,046,000 after purchasing an additional 354,329 shares during the period. Hedge funds and other institutional investors own 84.82% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Royal Bank Of Canada boosted their price objective on Western Midstream Partners from $38.00 to $39.00 and gave the stock a "sector perform" rating in a report on Tuesday, August 26th. Morgan Stanley decreased their target price on Western Midstream Partners from $41.00 to $39.00 and set an "underweight" rating for the company in a research report on Tuesday, August 26th. Finally, Mizuho increased their price objective on Western Midstream Partners from $44.00 to $46.00 and gave the company an "outperform" rating in a research report on Friday, August 29th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Western Midstream Partners has a consensus rating of "Reduce" and an average price target of $39.60.

Western Midstream Partners Stock Up 0.6%

WES stock traded up $0.22 during midday trading on Tuesday, hitting $38.53. The company's stock had a trading volume of 392,627 shares, compared to its average volume of 1,176,773. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 2.08. The company has a market cap of $14.69 billion, a PE ratio of 11.84 and a beta of 1.18. Western Midstream Partners, LP has a 12 month low of $33.60 and a 12 month high of $43.33. The firm's 50-day moving average is $39.00 and its 200-day moving average is $38.77.

Western Midstream Partners (NYSE:WES - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The pipeline company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.82 by $0.05. Western Midstream Partners had a net margin of 34.45% and a return on equity of 37.70%. The business had revenue of $942.32 million during the quarter, compared to the consensus estimate of $954.17 million. During the same quarter in the prior year, the firm earned $0.97 EPS. The business's revenue was up 4.1% on a year-over-year basis. On average, equities research analysts forecast that Western Midstream Partners, LP will post 4.02 earnings per share for the current fiscal year.

Western Midstream Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Friday, August 1st were issued a $0.91 dividend. The ex-dividend date was Friday, August 1st. This represents a $3.64 dividend on an annualized basis and a yield of 9.4%. Western Midstream Partners's dividend payout ratio is presently 112.00%.

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.