Western Midstream Partners, LP (NYSE:WES) Shares Bought by CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its position in Western Midstream Partners, LP (NYSE:WES - Free Report) by 4.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,333,624 shares of the pipeline company's stock after buying an additional 53,027 shares during the quarter. Western Midstream Partners makes up about 3.4% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's investment portfolio, making the stock its 14th biggest holding. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned approximately 0.35% of Western Midstream Partners worth $54,625,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of WES. Jaffetilchin Investment Partners LLC acquired a new stake in shares of Western Midstream Partners during the 1st quarter valued at approximately $200,000. Creative Financial Designs Inc. ADV acquired a new stake in shares of Western Midstream Partners during the first quarter worth $72,000. Sequoia Financial Advisors LLC bought a new position in shares of Western Midstream Partners in the 1st quarter worth about $262,000. Bessemer Group Inc. acquired a new stake in Western Midstream Partners during the first quarter worth about $41,000. Finally, Daymark Wealth Partners LLC lifted its holdings in Western Midstream Partners by 8.6% in the first quarter. Daymark Wealth Partners LLC now owns 45,506 shares of the pipeline company's stock worth $1,864,000 after acquiring an additional 3,605 shares during the last quarter. Institutional investors and hedge funds own 84.82% of the company's stock.

Western Midstream Partners Stock Performance

Shares of WES traded down $0.13 during trading hours on Tuesday, reaching $38.57. 1,510,993 shares of the company's stock traded hands, compared to its average volume of 1,223,685. Western Midstream Partners, LP has a twelve month low of $33.60 and a twelve month high of $43.33. The business's fifty day simple moving average is $38.16 and its two-hundred day simple moving average is $39.27. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.18 and a quick ratio of 1.18. The firm has a market capitalization of $14.71 billion, a price-to-earnings ratio of 11.51 and a beta of 1.10.

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 analysts' consensus estimates 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 company had revenue of $917.12 million during the quarter, compared to analyst estimates of $926.55 million. During the same period in the prior year, the company posted $1.47 earnings per share. The company's revenue was up 3.3% on a year-over-year basis. Analysts predict that Western Midstream Partners, LP will post 4.02 earnings per share for the current year.

Western Midstream Partners Increases Dividend

The company also recently disclosed 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 a positive change 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 annualized dividend and a dividend yield of 9.44%. Western Midstream Partners's dividend payout ratio is 108.66%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Mizuho dropped 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. Wall Street Zen raised shares of Western Midstream Partners from a "hold" rating to a "buy" rating in a report on Saturday, March 8th. Two 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, Western Midstream Partners currently has a consensus rating of "Hold" and a consensus target price of $39.83.

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.