M&T Bank Corp Has $492,000 Position in Western Midstream Partners, LP (NYSE:WES)

M&T Bank Corp trimmed its position in shares of Western Midstream Partners, LP (NYSE:WES - Free Report) by 40.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,000 shares of the pipeline company's stock after selling 8,000 shares during the period. M&T Bank Corp's holdings in Western Midstream Partners were worth $492,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. U.S. Capital Wealth Advisors LLC raised its holdings in shares of Western Midstream Partners by 20.9% during the first quarter. U.S. Capital Wealth Advisors LLC now owns 88,513 shares of the pipeline company's stock worth $3,626,000 after acquiring an additional 15,313 shares in the last quarter. Penserra Capital Management LLC purchased a new stake in shares of Western Midstream Partners during the first quarter worth $253,000. Investor s Fiduciary Advisor Network LLC purchased a new stake in shares of Western Midstream Partners during the first quarter worth $225,000. Bank of New York Mellon Corp raised its holdings in shares of Western Midstream Partners by 36.1% during the first quarter. Bank of New York Mellon Corp now owns 8,875 shares of the pipeline company's stock worth $364,000 after acquiring an additional 2,356 shares in the last quarter. Finally, Catalyst Capital Advisors LLC raised its holdings in shares of Western Midstream Partners by 30.6% during the first quarter. Catalyst Capital Advisors LLC now owns 461,365 shares of the pipeline company's stock worth $18,898,000 after acquiring an additional 108,021 shares in the last quarter. 84.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Mizuho cut their price objective on Western Midstream Partners from $45.00 to $44.00 and set an "outperform" rating for the company in a report on Tuesday, May 20th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $39.83.

Western Midstream Partners Stock Up 0.9%

NYSE WES traded up $0.36 during trading on Thursday, hitting $40.58. 681,660 shares of the company traded hands, compared to its average volume of 1,219,500. Western Midstream Partners, LP has a 12 month low of $33.60 and a 12 month high of $43.33. The business has a fifty day simple moving average of $38.68 and a 200 day simple moving average of $39.30. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 2.08. The company has a market capitalization of $15.47 billion, a P/E ratio of 12.11 and a beta of 1.08.

Western Midstream Partners (NYSE:WES - Get Free Report) last posted its earnings results 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). Western Midstream Partners had a net margin of 35.79% and a return on equity of 38.52%. The company had revenue of $917.12 million for the quarter, compared to the consensus estimate of $926.55 million. During the same quarter last year, the business earned $1.47 earnings per share. Western Midstream Partners's quarterly revenue was up 3.3% on a year-over-year basis. As a group, sell-side analysts predict that Western Midstream Partners, LP will post 4.02 EPS for the current year.

Western Midstream Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Friday, May 2nd were given a $0.91 dividend. This is an increase from Western Midstream Partners's previous quarterly dividend of $0.88. This represents a $3.64 annualized dividend and a dividend yield of 8.97%. The ex-dividend date was Friday, May 2nd. Western Midstream Partners's dividend payout ratio (DPR) 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.