Wealth Enhancement Advisory Services LLC Acquires 9,506 Shares of Western Midstream Partners, LP (NYSE:WES)

Wealth Enhancement Advisory Services LLC grew its holdings in Western Midstream Partners, LP (NYSE:WES - Free Report) by 29.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,294 shares of the pipeline company's stock after purchasing an additional 9,506 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Western Midstream Partners were worth $1,625,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Apollon Wealth Management LLC grew its position in shares of Western Midstream Partners by 1.2% in the fourth quarter. Apollon Wealth Management LLC now owns 25,691 shares of the pipeline company's stock valued at $987,000 after purchasing an additional 295 shares during the last quarter. Integrated Wealth Concepts LLC boosted its position in Western Midstream Partners by 4.7% during the fourth quarter. Integrated Wealth Concepts LLC now owns 6,833 shares of the pipeline company's stock worth $263,000 after acquiring an additional 306 shares during the last quarter. Virtus ETF Advisers LLC boosted its position in Western Midstream Partners by 7.3% during the fourth quarter. Virtus ETF Advisers LLC now owns 4,564 shares of the pipeline company's stock worth $175,000 after acquiring an additional 311 shares during the last quarter. RE Dickinson Investment Advisors LLC boosted its position in Western Midstream Partners by 21.8% during the fourth quarter. RE Dickinson Investment Advisors LLC now owns 2,168 shares of the pipeline company's stock worth $83,000 after acquiring an additional 388 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its position in 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 worth $74,000 after acquiring an additional 498 shares during the last quarter. 84.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on WES. Wall Street Zen upgraded shares of Western Midstream Partners from a "hold" rating to a "buy" rating in a report on Saturday, March 8th. Mizuho decreased their price target on shares of Western Midstream Partners from $45.00 to $44.00 and set an "outperform" rating on the stock in a report on Tuesday, May 20th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $39.83.

Western Midstream Partners Trading Up 1.3%

Shares of WES stock traded up $0.50 during trading hours on Friday, reaching $38.18. 509,357 shares of the stock traded hands, compared to its average volume of 1,235,349. Western Midstream Partners, LP has a 1-year low of $33.60 and a 1-year high of $43.33. The business has a fifty day moving average price of $37.82 and a 200 day moving average price of $39.39. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.05. The firm has a market capitalization of $14.56 billion, a PE ratio of 9.74, a PEG ratio of 1.40 and a beta of 1.09.

Western Midstream Partners (NYSE:WES - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The pipeline company reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.04). The company 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 42.99% and a return on equity of 46.02%. The firm's quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.47 EPS. On average, equities research analysts forecast that Western Midstream Partners, LP will post 4.02 EPS for the current year.

Western Midstream Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Friday, May 2nd were paid a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 9.53%. 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. Western Midstream Partners's dividend payout ratio is currently 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.