Wealth Enhancement Advisory Services LLC increased its stake in Western Midstream Partners, LP (NYSE:WES - Free Report) by 24.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 52,450 shares of the pipeline company's stock after purchasing an additional 10,156 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Western Midstream Partners were worth $2,148,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of WES. Princeton Global Asset Management LLC lifted its holdings 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 worth $29,000 after purchasing an additional 400 shares during the period. Cary Street Partners Financial LLC acquired a new stake in Western Midstream Partners in the fourth quarter worth about $39,000. Harbour Investments Inc. lifted its holdings in Western Midstream Partners by 555.6% in the fourth quarter. Harbour Investments Inc. now owns 1,180 shares of the pipeline company's stock worth $45,000 after purchasing an additional 1,000 shares during the period. Global Retirement Partners LLC acquired a new stake in Western Midstream Partners in the fourth quarter worth about $51,000. Finally, Farther Finance Advisors LLC lifted its holdings in Western Midstream Partners by 34.7% in the fourth quarter. Farther Finance Advisors LLC now owns 1,935 shares of the pipeline company's stock worth $74,000 after purchasing an additional 498 shares during the period. Institutional investors and hedge funds own 84.82% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on the stock. Mizuho reduced their price objective on shares of Western Midstream Partners from $45.00 to $44.00 and set an "outperform" rating for the company in a report on Tuesday, May 20th. Wall Street Zen upgraded Western Midstream Partners from a "hold" rating to a "buy" rating in a report on Saturday, March 8th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Western Midstream Partners has a consensus rating of "Hold" and an average target price of $39.83.
Read Our Latest Report on Western Midstream Partners
Western Midstream Partners Price Performance
NYSE WES opened at $38.54 on Friday. The stock's 50-day moving average price is $38.13 and its two-hundred day moving average price is $39.28. 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 cap of $14.70 billion, a PE ratio of 11.50 and a beta of 1.09. Western Midstream Partners, LP has a 1 year low of $33.60 and a 1 year high of $43.33.
Western Midstream Partners (NYSE:WES - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The pipeline company reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.04). The company had revenue of $917.12 million for 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 quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.47 EPS. On average, 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 announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Friday, May 2nd were issued a $0.91 dividend. This is an increase from Western Midstream Partners's previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $3.64 dividend on an annualized basis and a dividend yield of 9.44%. Western Midstream Partners's dividend payout ratio is currently 108.66%.
Western Midstream Partners Company Profile
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Free Report)
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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