Advisors Asset Management Inc. Grows Stock Position in Western Midstream Partners, LP $WES

Key Points

• Advisors Asset Management Inc. increased its holdings in Western Midstream Partners (WES) by 27.8% during the 1st quarter, now owning 134,076 shares valued at approximately $5.49 million.
• Western Midstream Partners recently declared a quarterly dividend of $0.91 per share, representing a 9.5% yield and an annualized dividend of $3.64.
• Analysts have varying ratings for WES, with a consensus price target of $39.60 and recent adjustments reflecting a mix of underweight and outperform ratings.

Advisors Asset Management Inc. grew its stake in Western Midstream Partners, LP (NYSE:WES - Free Report) by 27.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 134,076 shares of the pipeline company's stock after buying an additional 29,192 shares during the period. Advisors Asset Management Inc.'s holdings in Western Midstream Partners were worth $5,492,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in WES. Comerica Bank increased its stake in shares of Western Midstream Partners by 357.4% in the fourth quarter. Comerica Bank now owns 50,666 shares of the pipeline company's stock valued at $1,947,000 after buying an additional 39,590 shares during the period. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Western Midstream Partners in the fourth quarter valued at about $212,000. BNP Paribas Financial Markets increased its stake in shares of Western Midstream Partners by 5.4% in the fourth quarter. BNP Paribas Financial Markets now owns 1,049,979 shares of the pipeline company's stock valued at $40,351,000 after buying an additional 53,961 shares during the period. Cary Street Partners Financial LLC acquired a new stake in shares of Western Midstream Partners in the fourth quarter valued at about $39,000. Finally, Captrust Financial Advisors increased its stake in shares of Western Midstream Partners by 1.9% in the fourth quarter. Captrust Financial Advisors now owns 53,328 shares of the pipeline company's stock valued at $2,049,000 after buying an additional 972 shares during the period. Institutional investors and hedge funds own 84.82% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on WES. Morgan Stanley decreased their price target on Western Midstream Partners from $41.00 to $39.00 and set an "underweight" rating for the company in a research note on Tuesday, August 26th. Royal Bank Of Canada upped their target price on Western Midstream Partners from $38.00 to $39.00 and gave the company a "sector perform" rating in a research report on Tuesday, August 26th. Finally, Mizuho upped their target price on Western Midstream Partners from $44.00 to $46.00 and gave the company an "outperform" rating in a research report on Friday, August 29th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Reduce" and an average target price of $39.60.

Western Midstream Partners Stock Performance

Shares of WES traded up $0.12 on Tuesday, reaching $38.06. 1,003,980 shares of the company's stock traded hands, compared to its average volume of 1,180,200. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 2.08. The stock's 50 day simple moving average is $39.17 and its two-hundred day simple moving average is $38.85. Western Midstream Partners, LP has a 52-week low of $33.60 and a 52-week high of $43.33. The stock has a market cap of $14.51 billion, a PE ratio of 11.71 and a beta of 1.18.

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, topping analysts' consensus estimates 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 business had revenue of $942.32 million during the quarter, compared to the consensus estimate of $954.17 million. During the same period last year, the business posted $0.97 earnings per share. The business's revenue for the quarter was up 4.1% on a year-over-year basis. On average, analysts forecast that Western Midstream Partners, LP will post 4.02 earnings per share for the current fiscal year.

Western Midstream Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Friday, August 1st were paid a dividend of $0.91 per share. The ex-dividend date of this dividend was Friday, August 1st. This represents a $3.64 annualized dividend and a yield of 9.6%. Western Midstream Partners's payout ratio is 112.00%.

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.