Oppenheimer Asset Management Inc. Sells 19,419 Shares of Western Midstream Partners, LP (NYSE:WES)

Oppenheimer Asset Management Inc. trimmed its holdings in shares of Western Midstream Partners, LP (NYSE:WES - Free Report) by 33.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 39,251 shares of the pipeline company's stock after selling 19,419 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Western Midstream Partners were worth $1,608,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Invesco Ltd. raised its position in shares of Western Midstream Partners by 6.6% during the fourth 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Western Midstream Partners by 23.1% during 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 purchasing an additional 1,366,341 shares during the period. Stifel Financial Corp raised its position in shares of Western Midstream Partners by 624.5% during the fourth 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 during the period. Barclays PLC raised its position in shares of Western Midstream Partners by 83.1% during the fourth 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 during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Western Midstream Partners during the fourth quarter worth approximately $19,079,000. 84.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

WES has been the topic of a number of research reports. Wall Street Zen raised Western Midstream Partners from a "hold" rating to a "buy" rating in a research report on Saturday, March 8th. Mizuho lowered their target price on Western Midstream Partners from $45.00 to $44.00 and set an "outperform" rating on the stock in a research 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 issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $39.83.

Western Midstream Partners Trading Up 0.4%

NYSE WES opened at $38.54 on Friday. The firm has a market capitalization of $14.70 billion, a P/E ratio of 11.50 and a beta of 1.09. The business has a fifty day simple moving average of $38.13 and a 200 day simple moving average of $39.28. Western Midstream Partners, LP has a 12 month low of $33.60 and a 12 month 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 released its quarterly earnings results on Wednesday, May 7th. The pipeline company reported $0.79 EPS for the quarter, missing analysts' consensus estimates of $0.83 by ($0.04). The company had revenue of $917.12 million during the quarter, compared to analysts' expectations of $926.55 million. Western Midstream Partners had a net margin of 35.79% and a return on equity of 38.52%. The company's quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.47 earnings per share. On average, analysts predict that Western Midstream Partners, LP will post 4.02 EPS for the current fiscal year.

Western Midstream Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Friday, May 2nd were given a dividend of $0.91 per share. The ex-dividend date of this dividend was Friday, May 2nd. This is a positive change from Western Midstream Partners's previous quarterly dividend of $0.88. This represents a $3.64 annualized dividend and a dividend yield of 9.44%. Western Midstream Partners's dividend payout ratio (DPR) is currently 108.66%.

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.

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