RR Advisors LLC Sells 11,000 Shares of Western Midstream Partners, LP $WES

Key Points

• RR Advisors LLC has reduced its stake in Western Midstream Partners, LP by 2.3%, holding 466,000 shares after selling 11,000 shares in the first quarter.
• Western Midstream Partners recently announced a quarterly dividend of $0.91, resulting in an annualized dividend of $3.64 and a yield of 9.4%.
• The firm's earnings report showed an EPS of $0.87, beating analysts' estimates and demonstrating a 4.1% year-over-year revenue increase.

RR Advisors LLC trimmed its holdings in shares of Western Midstream Partners, LP (NYSE:WES - Free Report) by 2.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 466,000 shares of the pipeline company's stock after selling 11,000 shares during the quarter. Western Midstream Partners accounts for about 4.6% of RR Advisors LLC's portfolio, making the stock its 10th largest position. RR Advisors LLC owned 0.12% of Western Midstream Partners worth $19,074,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in WES. Alps Advisors Inc. lifted its position in shares of Western Midstream Partners by 7.6% in the 1st quarter. Alps Advisors Inc. now owns 33,824,487 shares of the pipeline company's stock worth $1,385,451,000 after purchasing an additional 2,400,891 shares during the period. Invesco Ltd. lifted its position in shares of Western Midstream Partners by 7.1% in the 1st quarter. Invesco Ltd. now owns 24,417,770 shares of the pipeline company's stock worth $1,000,152,000 after purchasing an additional 1,608,609 shares during the period. Tortoise Capital Advisors L.L.C. lifted its position in shares of Western Midstream Partners by 2.0% in the 4th quarter. Tortoise Capital Advisors L.L.C. now owns 8,064,089 shares of the pipeline company's stock worth $309,903,000 after purchasing an additional 159,016 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Western Midstream Partners by 23.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,273,186 shares of the pipeline company's stock worth $279,509,000 after purchasing an additional 1,366,341 shares during the period. Finally, Eagle Global Advisors LLC lifted its position in shares of Western Midstream Partners by 23.2% in the 4th quarter. Eagle Global Advisors LLC now owns 2,434,080 shares of the pipeline company's stock worth $93,542,000 after purchasing an additional 458,111 shares during the period. 84.82% of the stock is owned by institutional investors.

Western Midstream Partners Stock Down 0.3%

Shares of Western Midstream Partners stock traded down $0.11 during trading on Friday, reaching $38.53. 1,428,591 shares of the company traded hands, compared to its average volume of 1,341,232. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.30 and a quick ratio of 1.30. Western Midstream Partners, LP has a 1-year low of $33.60 and a 1-year high of $43.33. The company has a 50 day moving average price of $39.14 and a 200-day moving average price of $39.11. The firm has a market capitalization of $14.69 billion, a PE ratio of 11.86 and a beta of 1.13.

Western Midstream Partners (NYSE:WES - Get Free Report) last released its earnings results on Wednesday, August 6th. The pipeline company reported $0.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.82 by $0.05. Western Midstream Partners had a net margin of 34.45% and a return on equity of 37.70%. The company had revenue of $942.32 million for the quarter, compared to the consensus estimate of $954.17 million. During the same quarter in the previous year, the company earned $0.97 EPS. Western Midstream Partners's quarterly revenue was up 4.1% compared to the same quarter last year. As a group, equities research analysts expect that Western Midstream Partners, LP will post 4.02 earnings per share for the current fiscal year.

Western Midstream Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Friday, August 1st were given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 9.4%. The ex-dividend date was Friday, August 1st. Western Midstream Partners's payout ratio is presently 112.00%.

Analyst Ratings Changes

Separately, Mizuho dropped 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 research report on Tuesday, May 20th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Western Midstream Partners currently has an average rating of "Hold" and a consensus target price of $39.80.

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.