Western Midstream Partners, LP $WES Shares Sold by Eagle Global Advisors LLC

Key Points

• Eagle Global Advisors LLC has reduced its stake in Western Midstream Partners by 18.8%, now holding about 1.93 million shares, which represents 3.0% of its total holdings.
• Several institutional investors made significant moves with Western Midstream Partners, including Longfellow Investment Management Co. which increased its stake by 90.5% in the first quarter.
• The company recently declared a quarterly dividend of $0.91 per share, resulting in an annualized dividend yield of 9.2% and a payout ratio of 112.00%.

Eagle Global Advisors LLC decreased its holdings in shares of Western Midstream Partners, LP (NYSE:WES - Free Report) by 18.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,925,950 shares of the pipeline company's stock after selling 446,480 shares during the quarter. Western Midstream Partners comprises 3.0% of Eagle Global Advisors LLC's holdings, making the stock its 7th largest holding. Eagle Global Advisors LLC owned approximately 0.51% of Western Midstream Partners worth $74,534,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WES. Kingstone Capital Partners Texas LLC acquired a new stake in Western Midstream Partners during the second quarter worth $156,967,000. Alps Advisors Inc. increased its stake in Western Midstream Partners by 7.6% during the first quarter. Alps Advisors Inc. now owns 33,824,487 shares of the pipeline company's stock worth $1,385,451,000 after acquiring an additional 2,400,891 shares during the last quarter. Invesco Ltd. lifted its stake in Western Midstream Partners by 7.1% during the first 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 in the last quarter. Longfellow Investment Management Co. LLC lifted its stake in Western Midstream Partners by 90.5% during the first quarter. Longfellow Investment Management Co. LLC now owns 985,718 shares of the pipeline company's stock worth $40,375,000 after purchasing an additional 468,303 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in Western Midstream Partners by 2,725.4% during the first quarter. Northern Trust Corp now owns 367,330 shares of the pipeline company's stock worth $15,046,000 after purchasing an additional 354,329 shares in the last quarter. Institutional investors and hedge funds own 84.82% of the company's stock.

Wall Street Analysts Forecast Growth

WES has been the topic of a number of research reports. Royal Bank Of Canada upped their price target on Western Midstream Partners from $38.00 to $39.00 and gave the stock a "sector perform" rating in a research note on Tuesday, August 26th. Mizuho upped their price target on Western Midstream Partners from $44.00 to $46.00 and gave the stock an "outperform" rating in a research note on Friday, August 29th. Finally, Morgan Stanley decreased their price target on Western Midstream Partners from $41.00 to $39.00 and set an "underweight" rating on the stock in a research note on Tuesday, August 26th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Reduce" and a consensus target price of $39.60.

Western Midstream Partners Stock Up 0.2%

Western Midstream Partners stock opened at $39.45 on Friday. Western Midstream Partners, LP has a twelve month low of $33.60 and a twelve month high of $43.33. The stock's fifty day simple moving average is $38.90 and its 200-day simple moving average is $38.75. 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 firm has a market capitalization of $15.04 billion, a P/E ratio of 12.14 and a beta of 1.17.

Western Midstream Partners (NYSE:WES - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The pipeline company reported $0.87 earnings per share 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 for the quarter, compared to analyst estimates of $954.17 million. During the same quarter in the prior year, the company earned $0.97 earnings per share. The company's revenue was up 4.1% on a year-over-year basis. As a group, equities 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 disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 1st were given a dividend of $0.91 per share. The ex-dividend date of this dividend was Friday, August 1st. This represents a $3.64 dividend on an annualized basis and a dividend yield of 9.2%. Western Midstream Partners's dividend payout ratio is currently 112.00%.

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.

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