MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Purchases 155,661 Shares of Western Midstream Partners, LP $WES

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Western Midstream Partners by 2.1%, owning approximately $304.29 million worth of shares, accounting for about 0.7% of its portfolio.
• Analysts have mixed opinions on WES, with one Buy rating, two Hold ratings, and two Sell ratings, resulting in a consensus rating of "Reduce" and an average price target of $39.60.
• Western Midstream Partners recently declared a quarterly dividend of $0.91 per share, yielding 9.5%, though it has a high dividend payout ratio of 112%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Western Midstream Partners, LP (NYSE:WES - Free Report) by 2.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,428,847 shares of the pipeline company's stock after buying an additional 155,661 shares during the period. Western Midstream Partners comprises 0.7% of MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s portfolio, making the stock its 21st biggest position. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 1.95% of Western Midstream Partners worth $304,286,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of WES. Princeton Global Asset Management LLC increased its holdings in shares of Western Midstream Partners by 133.3% during the first quarter. Princeton Global Asset Management LLC now owns 700 shares of the pipeline company's stock worth $29,000 after buying an additional 400 shares in the last quarter. Financial Network Wealth Advisors LLC increased its holdings in shares of Western Midstream Partners by 1,856.4% in the first quarter. Financial Network Wealth Advisors LLC now owns 763 shares of the pipeline company's stock valued at $31,000 after purchasing an additional 724 shares in the last quarter. Cary Street Partners Financial LLC acquired a new stake in shares of Western Midstream Partners in the fourth quarter valued at approximately $39,000. Bessemer Group Inc. acquired a new stake in shares of Western Midstream Partners in the first quarter valued at approximately $41,000. Finally, Creative Financial Designs Inc. ADV acquired a new stake in shares of Western Midstream Partners in the first quarter valued at approximately $72,000. Institutional investors and hedge funds own 84.82% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Mizuho raised their price target on shares of Western Midstream Partners from $44.00 to $46.00 and gave the company an "outperform" rating in a report on Friday, August 29th. Royal Bank Of Canada raised their price target on shares of Western Midstream Partners from $38.00 to $39.00 and gave the company a "sector perform" rating in a report on Tuesday, August 26th. Finally, Morgan Stanley lowered their price target on shares of Western Midstream Partners from $41.00 to $39.00 and set an "underweight" rating for the company in a report on Tuesday, August 26th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Reduce" and a consensus target price of $39.60.

Western Midstream Partners Trading Up 1.2%

WES stock traded up $0.45 during midday trading on Wednesday, reaching $38.53. The company's stock had a trading volume of 334,860 shares, compared to its average volume of 1,175,151. Western Midstream Partners, LP has a 52 week low of $33.60 and a 52 week high of $43.33. The stock has a market cap of $14.69 billion, a PE ratio of 11.85 and a beta of 1.18. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 2.08. The business's 50-day simple moving average is $39.16 and its 200-day simple moving average is $38.85.

Western Midstream Partners (NYSE:WES - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The pipeline company reported $0.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm had revenue of $942.32 million for the quarter, compared to analysts' expectations of $954.17 million. During the same period last year, the firm earned $0.97 earnings per share. The business's revenue for the quarter was up 4.1% on a year-over-year basis. As a group, sell-side analysts expect that Western Midstream Partners, LP will post 4.02 EPS for the current 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 paid a $0.91 dividend. The ex-dividend date of this dividend 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 (DPR) is presently 112.00%.

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.