Pacer Advisors Inc. Buys 8,022 Shares of Western Midstream Partners, LP (NYSE:WES)

Pacer Advisors Inc. boosted its holdings in Western Midstream Partners, LP (NYSE:WES - Free Report) by 15.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 59,722 shares of the pipeline company's stock after buying an additional 8,022 shares during the period. Pacer Advisors Inc.'s holdings in Western Midstream Partners were worth $2,446,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC increased its position in shares of Western Midstream Partners by 50.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 21,353 shares of the pipeline company's stock valued at $821,000 after purchasing an additional 7,155 shares during the period. LPL Financial LLC increased its position in shares of Western Midstream Partners by 16.8% during the fourth quarter. LPL Financial LLC now owns 227,107 shares of the pipeline company's stock valued at $8,728,000 after purchasing an additional 32,628 shares during the period. Summit Financial LLC increased its position in shares of Western Midstream Partners by 2.6% during the fourth quarter. Summit Financial LLC now owns 93,977 shares of the pipeline company's stock valued at $3,612,000 after purchasing an additional 2,409 shares during the period. Envestnet Asset Management Inc. increased its position in shares of Western Midstream Partners by 7.8% during the fourth quarter. Envestnet Asset Management Inc. now owns 142,877 shares of the pipeline company's stock valued at $5,491,000 after purchasing an additional 10,343 shares during the period. Finally, Invesco Ltd. increased 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 valued at $876,556,000 after purchasing an additional 1,406,362 shares during the period. 84.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Mizuho lowered their price target 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 company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $39.83.

Western Midstream Partners Price Performance

NYSE:WES traded down $1.34 during trading hours on Friday, reaching $39.39. The company had a trading volume of 940,179 shares, compared to its average volume of 1,146,314. The stock has a 50-day moving average of $38.97 and a two-hundred day moving average of $39.37. Western Midstream Partners, LP has a one year low of $33.60 and a one year high of $43.33. The firm has a market capitalization of $15.02 billion, a PE ratio of 11.76 and a beta of 1.08. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 2.08.

Western Midstream Partners (NYSE:WES - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $917.12 million during the quarter, compared to analyst estimates of $926.55 million. Western Midstream Partners had a return on equity of 38.52% and a net margin of 35.79%. Western Midstream Partners's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.47 EPS. Analysts forecast that Western Midstream Partners, LP will post 4.02 earnings per share for the current year.

Western Midstream Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Friday, August 1st will be paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 9.2%. The ex-dividend date of this dividend is Friday, August 1st. Western Midstream Partners's dividend payout ratio is 108.66%.

About Western Midstream Partners

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.