Invesco Ltd. increased its position in Western Midstream Partners, LP (NYSE:WES - Free Report) by 7.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,417,770 shares of the pipeline company's stock after buying an additional 1,608,609 shares during the quarter. Invesco Ltd. owned 6.40% of Western Midstream Partners worth $1,000,152,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also added to or reduced their stakes in the stock. Alps Advisors Inc. lifted its holdings 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Western Midstream Partners by 23.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,273,186 shares of the pipeline company's stock valued at $279,509,000 after acquiring an additional 1,366,341 shares in the last quarter. Stifel Financial Corp lifted its stake in Western Midstream Partners by 624.5% during the 4th quarter. Stifel Financial Corp now owns 785,096 shares of the pipeline company's stock valued at $30,171,000 after acquiring an additional 676,729 shares in the last quarter. Barclays PLC lifted its stake in Western Midstream Partners by 83.1% during the 4th quarter. Barclays PLC now owns 1,404,381 shares of the pipeline company's stock valued at $53,971,000 after acquiring an additional 637,266 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Western Midstream Partners during the 4th quarter valued at $19,079,000. 84.82% of the stock is currently owned by institutional investors.
Western Midstream Partners Stock Performance
WES traded up $0.31 during trading hours on Wednesday, hitting $38.47. The stock had a trading volume of 90,606 shares, compared to its average volume of 1,174,568. The company's fifty day simple moving average is $39.09 and its 200 day simple moving average is $39.20. Western Midstream Partners, LP has a 1 year low of $33.60 and a 1 year high of $43.33. The stock has a market cap of $14.67 billion, a PE ratio of 11.85 and a beta of 1.13. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 2.08.
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 for the quarter, topping the consensus estimate of $0.82 by $0.05. Western Midstream Partners had a return on equity of 37.70% and a net margin of 34.45%. The company had revenue of $942.32 million during the quarter, compared to analyst estimates of $954.17 million. During the same quarter last year, the firm posted $0.97 EPS. The firm's revenue for the quarter was up 4.1% on a year-over-year basis. Equities analysts anticipate that Western Midstream Partners, LP will post 4.02 earnings per share for the current year.
Western Midstream Partners Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Friday, August 1st will be issued a $0.91 dividend. The ex-dividend date of this dividend is Friday, August 1st. This represents a $3.64 annualized dividend and a yield of 9.5%. Western Midstream Partners's dividend payout ratio (DPR) is 112.00%.
Analysts Set New Price Targets
Separately, Mizuho decreased their target price on Western Midstream Partners from $45.00 to $44.00 and set an "outperform" rating for the company in a research report on Tuesday, May 20th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $39.80.
View Our Latest Analysis on Western Midstream Partners
Western Midstream Partners Profile
(
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.
Featured Stories
Before you consider Western Midstream Partners, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Western Midstream Partners wasn't on the list.
While Western Midstream Partners currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
MarketBeat All Access