Western Midstream Partners, LP (NYSE:WES) Stake Lowered by Westwood Holdings Group Inc.

Key Points

• Westwood Holdings Group Inc. has reduced its stake in Western Midstream Partners, LP by 32.4%, selling 898,143 shares and holding approximately 1,871,244 shares now valued at $76.6 million.
• Analysts have lowered the price target for Western Midstream Partners from $45.00 to $44.00, with a consensus rating of "Hold" and an average price target of $39.83.
• The company announced a quarterly dividend of $0.91 per share, with a high dividend yield of 9.2%, although its dividend payout ratio is at 108.66%.

Westwood Holdings Group Inc. trimmed its position in Western Midstream Partners, LP (NYSE:WES - Free Report) by 32.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,871,244 shares of the pipeline company's stock after selling 898,143 shares during the period. Westwood Holdings Group Inc. owned approximately 0.49% of Western Midstream Partners worth $76,646,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Princeton Global Asset Management LLC lifted its position in Western Midstream Partners by 133.3% in the first quarter. Princeton Global Asset Management LLC now owns 700 shares of the pipeline company's stock worth $29,000 after purchasing an additional 400 shares during the period. Cary Street Partners Financial LLC bought a new position in shares of Western Midstream Partners in the fourth quarter valued at $39,000. Bessemer Group Inc. bought a new position in shares of Western Midstream Partners in the first quarter valued at $41,000. Creative Financial Designs Inc. ADV bought a new position in shares of Western Midstream Partners in the first quarter valued at $72,000. Finally, RE Dickinson Investment Advisors LLC increased its holdings in shares of Western Midstream Partners by 21.8% in the fourth quarter. RE Dickinson Investment Advisors LLC now owns 2,168 shares of the pipeline company's stock valued at $83,000 after buying an additional 388 shares in the last quarter. 84.82% of the stock is currently owned by institutional investors and hedge funds.

Western Midstream Partners Stock Down 1.0%

NYSE:WES traded down $0.39 during trading hours on Friday, hitting $38.05. 2,640,446 shares of the stock traded hands, compared to its average volume of 1,064,494. The firm has a 50 day moving average price of $39.09 and a 200 day moving average price of $39.26. The company has a current ratio of 1.30, a quick ratio of 1.18 and a debt-to-equity ratio of 2.08. Western Midstream Partners, LP has a fifty-two week low of $33.60 and a fifty-two week high of $43.33. The firm has a market cap of $14.51 billion, a price-to-earnings ratio of 11.71 and a beta of 1.13.

Western Midstream Partners (NYSE:WES - Get Free Report) last announced its earnings results on Wednesday, August 6th. The pipeline company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period in the previous year, the business earned $0.97 EPS. The company's revenue was up 4.1% on a year-over-year basis. Equities research analysts anticipate that Western Midstream Partners, LP will post 4.02 earnings per share for the current year.

Western Midstream Partners Dividend Announcement

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

Analyst Upgrades and Downgrades

Separately, Mizuho dropped their price target on Western Midstream Partners from $45.00 to $44.00 and set an "outperform" rating on the stock in a report on Tuesday, May 20th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target 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.