Western Midstream Partners, LP (NYSE:WES) Shares Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC raised its position in shares of Western Midstream Partners, LP (NYSE:WES - Free Report) by 24.0% in the first quarter, according to the company in its most recent 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 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Princeton Global Asset Management LLC increased its holdings in Western Midstream Partners by 133.3% during the first quarter. Princeton Global Asset Management LLC now owns 700 shares of the pipeline company's stock valued at $29,000 after buying an additional 400 shares during the last quarter. Cary Street Partners Financial LLC purchased a new stake in shares of Western Midstream Partners in the 4th quarter worth $39,000. Harbour Investments Inc. increased its stake in shares of Western Midstream Partners by 555.6% in the 4th 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 in the last quarter. Global Retirement Partners LLC bought a new position in Western Midstream Partners in the 4th quarter worth $51,000. Finally, Farther Finance Advisors LLC lifted 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 valued at $74,000 after purchasing an additional 498 shares in the last quarter. Hedge funds and other institutional investors own 84.82% of the company's stock.

Wall Street Analysts Forecast Growth

WES has been the topic of several analyst reports. Mizuho lowered 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. Wall Street Zen upgraded Western Midstream Partners from a "hold" rating to a "buy" rating in a research 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 issued a buy rating to the company. According to MarketBeat, Western Midstream Partners currently has an average rating of "Hold" and a consensus price target of $39.83.

Western Midstream Partners Trading Up 1.4%

Shares of NYSE WES traded up $0.53 during trading hours on Wednesday, hitting $39.11. 456,345 shares of the company traded hands, compared to its average volume of 1,222,251. The stock has a market capitalization of $14.91 billion, a price-to-earnings ratio of 11.67 and a beta of 1.08. The company's 50 day moving average price is $38.17 and its 200 day moving average price is $39.26. Western Midstream Partners, LP has a 12 month low of $33.60 and a 12 month high of $43.33. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 2.08.

Western Midstream Partners (NYSE:WES - Get Free Report) last issued its quarterly 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 return on equity of 38.52% and a net margin of 35.79%. The business had revenue of $917.12 million during the quarter, compared to analysts' expectations of $926.55 million. During the same quarter in the previous year, the company posted $1.47 earnings per share. The company's quarterly revenue was up 3.3% compared to the same quarter last year. On average, equities research analysts anticipate that Western Midstream Partners, LP will post 4.02 earnings per share for the current fiscal year.

Western Midstream Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Friday, May 2nd were paid a $0.91 dividend. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $3.64 annualized dividend and a yield of 9.31%. This is a boost from Western Midstream Partners's previous quarterly dividend of $0.88. 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.