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

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

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Princeton Global Asset Management LLC raised its position in Western Midstream Partners by 133.3% in the first quarter. Princeton Global Asset Management LLC now owns 700 shares of the pipeline company's stock valued at $29,000 after purchasing an additional 400 shares during the period. Cary Street Partners Financial LLC acquired a new position in shares of Western Midstream Partners in the 4th quarter valued at about $39,000. Harbour Investments Inc. boosted its position in Western Midstream Partners by 555.6% during the 4th quarter. Harbour Investments Inc. now owns 1,180 shares of the pipeline company's stock valued at $45,000 after purchasing an additional 1,000 shares during the period. Global Retirement Partners LLC bought a new stake in shares of Western Midstream Partners during the fourth quarter valued at approximately $51,000. Finally, Farther Finance Advisors LLC raised its stake in shares of Western Midstream Partners by 34.7% during the fourth quarter. Farther Finance Advisors LLC now owns 1,935 shares of the pipeline company's stock valued at $74,000 after purchasing an additional 498 shares in the last quarter. Institutional investors and hedge funds own 84.82% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Wall Street Zen raised shares of Western Midstream Partners from a "hold" rating to a "buy" rating in a research note on Saturday, March 8th. Mizuho dropped their price objective on shares of 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 assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $39.83.

Western Midstream Partners Stock Performance

Shares of WES stock traded down $0.13 during trading on Tuesday, reaching $38.57. 1,511,674 shares of the company's stock were exchanged, compared to its average volume of 1,225,162. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 2.08. The firm's fifty day moving average price is $38.17 and its 200-day moving average price is $39.26. Western Midstream Partners, LP has a twelve month low of $33.60 and a twelve month high of $43.33. The stock has a market capitalization of $14.71 billion, a PE ratio of 11.51 and a beta of 1.08.

Western Midstream Partners (NYSE:WES - Get Free Report) last issued its 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 analyst estimates of $926.55 million. Western Midstream Partners had a net margin of 35.79% and a return on equity of 38.52%. Western Midstream Partners's quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.47 earnings per share. As a group, sell-side analysts anticipate that Western Midstream Partners, LP will post 4.02 EPS for the current year.

Western Midstream Partners Increases Dividend

The company also recently disclosed 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 boost 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 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.