Western Midstream Partners, LP (NYSE:WES) Shares Sold by ING Groep NV

Key Points

• ING Groep NV reduced its holdings in Western Midstream Partners, LP by 70.0% during the first quarter, holding 156,000 shares valued at approximately $6.39 million after selling 364,187 shares.
• Western Midstream Partners recently declared a quarterly dividend of $0.91, resulting in a 9.1% dividend yield, with a dividend payout ratio of 108.66%.
• The company reported earnings of $0.79 per share in its latest quarter, missing analyst expectations, while revenues increased 3.3% year-over-year but were below forecasted figures.

ING Groep NV reduced its stake in shares of Western Midstream Partners, LP (NYSE:WES - Free Report) by 70.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 156,000 shares of the pipeline company's stock after selling 364,187 shares during the quarter. ING Groep NV's holdings in Western Midstream Partners were worth $6,390,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. IFG Advisory LLC increased its stake in shares of Western Midstream Partners by 46.7% during the first quarter. IFG Advisory LLC now owns 9,288 shares of the pipeline company's stock worth $380,000 after acquiring an additional 2,958 shares during the period. MGO One Seven LLC grew its position in Western Midstream Partners by 36.7% during the first quarter. MGO One Seven LLC now owns 186,932 shares of the pipeline company's stock worth $7,657,000 after buying an additional 50,193 shares during the period. GSA Capital Partners LLP acquired a new position in Western Midstream Partners during the first quarter worth about $1,253,000. LPL Financial LLC grew its position in Western Midstream Partners by 14.0% during the first quarter. LPL Financial LLC now owns 258,794 shares of the pipeline company's stock worth $10,600,000 after buying an additional 31,687 shares during the period. Finally, Texas Yale Capital Corp. grew its position in Western Midstream Partners by 13.7% during the first quarter. Texas Yale Capital Corp. now owns 437,971 shares of the pipeline company's stock worth $17,939,000 after buying an additional 52,880 shares during the period. 84.82% of the stock is currently owned by institutional investors and hedge funds.

Western Midstream Partners Trading Down 1.0%

Shares of WES traded down $0.39 on Friday, hitting $38.05. 2,640,446 shares of the stock traded hands, compared to its average volume of 1,064,494. The company has a quick ratio of 1.18, a current ratio of 1.30 and a debt-to-equity ratio of 2.08. The firm has a market capitalization of $14.51 billion, a P/E ratio of 11.71 and a beta of 1.13. The stock's 50 day moving average is $39.09 and its two-hundred day moving average is $39.28. 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 announced its quarterly earnings data on Wednesday, August 6th. The pipeline company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.05. The business had revenue of $942.32 million for the quarter, compared to the consensus estimate of $954.17 million. Western Midstream Partners had a net margin of 34.45% and a return on equity of 37.70%. The company's quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.97 earnings per share. As a group, sell-side analysts predict that Western Midstream Partners, LP will post 4.02 earnings per share for the current year.

Western Midstream Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Friday, August 1st will be given a dividend of $0.91 per share. The ex-dividend date of this dividend is Friday, August 1st. This represents a $3.64 annualized dividend and a yield of 9.6%. Western Midstream Partners's dividend payout ratio is 108.66%.

Wall Street Analyst Weigh In

Separately, Mizuho lowered their target price on shares of 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. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Western Midstream Partners presently has an average rating of "Hold" and an average price target of $39.83.

Western Midstream Partners 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.