Westwood Holdings Group Inc. Lowers Position in Western Midstream Partners, LP (NYSE:WES)

Westwood Holdings Group Inc. lessened its stake in Western Midstream Partners, LP (NYSE:WES - Free Report) by 43.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,769,387 shares of the pipeline company's stock after selling 2,165,465 shares during the period. Western Midstream Partners accounts for approximately 0.8% of Westwood Holdings Group Inc.'s investment portfolio, making the stock its 27th largest holding. Westwood Holdings Group Inc. owned about 0.73% of Western Midstream Partners worth $106,428,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Apollon Wealth Management LLC grew its stake in Western Midstream Partners by 1.2% in the fourth quarter. Apollon Wealth Management LLC now owns 25,691 shares of the pipeline company's stock valued at $987,000 after purchasing an additional 295 shares during the last quarter. Integrated Wealth Concepts LLC grew its stake in Western Midstream Partners by 4.7% in the fourth quarter. Integrated Wealth Concepts LLC now owns 6,833 shares of the pipeline company's stock valued at $263,000 after purchasing an additional 306 shares during the last quarter. Virtus ETF Advisers LLC increased its holdings in shares of Western Midstream Partners by 7.3% during the fourth quarter. Virtus ETF Advisers LLC now owns 4,564 shares of the pipeline company's stock valued at $175,000 after acquiring an additional 311 shares in the last quarter. RE Dickinson Investment Advisors LLC increased its holdings in shares of Western Midstream Partners by 21.8% during the fourth quarter. RE Dickinson Investment Advisors LLC now owns 2,168 shares of the pipeline company's stock valued at $83,000 after acquiring an additional 388 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in shares of Western Midstream Partners by 34.7% during the fourth quarter. Farther Finance Advisors LLC now owns 1,935 shares of the pipeline company's stock valued at $74,000 after acquiring an additional 498 shares in the last quarter. Hedge funds and other institutional investors own 84.82% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Mizuho cut their price objective on shares of Western Midstream Partners from $45.00 to $44.00 and set an "outperform" rating on the stock in a report on Tuesday. StockNews.com upgraded shares of Western Midstream Partners from a "hold" rating to a "buy" rating in a report on Saturday, March 8th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $39.14.

Western Midstream Partners Stock Performance

NYSE WES traded down $0.68 during trading hours on Wednesday, reaching $38.46. The stock had a trading volume of 681,165 shares, compared to its average volume of 1,233,825. The stock has a fifty day moving average of $38.59 and a 200 day moving average of $39.31. The stock has a market cap of $14.67 billion, a P/E ratio of 9.81, a price-to-earnings-growth ratio of 1.40 and a beta of 1.12. Western Midstream Partners, LP has a 52-week low of $33.60 and a 52-week high of $43.33. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.11 and a current ratio of 1.11.

Western Midstream Partners (NYSE:WES - Get Free Report) last issued its earnings results on Wednesday, May 7th. The pipeline company reported $0.79 EPS for the quarter, missing analysts' consensus estimates of $0.83 by ($0.04). The firm had revenue of $917.12 million during the quarter, compared to analysts' expectations of $926.55 million. Western Midstream Partners had a net margin of 42.99% and a return on equity of 46.02%. Western Midstream Partners's quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.47 EPS. Sell-side analysts predict that Western Midstream Partners, LP will post 4.02 earnings per share for the current year.

Western Midstream Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Friday, May 2nd were given a $0.91 dividend. The ex-dividend date was Friday, May 2nd. This represents a $3.64 dividend on an annualized basis and a yield of 9.46%. This is a positive change from Western Midstream Partners's previous quarterly dividend of $0.88. Western Midstream Partners's dividend payout ratio is currently 108.66%.

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.