MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Western Midstream Partners, LP (NYSE:WES - Free Report) by 23.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,273,186 shares of the pipeline company's stock after buying an additional 1,366,341 shares during the period. Western Midstream Partners accounts for 0.6% of MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s portfolio, making the stock its 26th biggest position. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 1.91% of Western Midstream Partners worth $279,509,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Cary Street Partners Financial LLC purchased a new stake in Western Midstream Partners in the fourth quarter worth $39,000. Harbour Investments Inc. grew its stake in Western Midstream Partners by 555.6% in the fourth quarter. Harbour Investments Inc. now owns 1,180 shares of the pipeline company's stock worth $45,000 after purchasing an additional 1,000 shares during the period. Global Retirement Partners LLC purchased a new stake in Western Midstream Partners in the fourth quarter worth $51,000. Empowered Funds LLC purchased a new stake in Western Midstream Partners in the fourth quarter worth $53,000. Finally, Kieckhefer Group LLC purchased a new stake in Western Midstream Partners in the fourth quarter worth $58,000. 84.82% of the stock is owned by hedge funds and other institutional investors.
Western Midstream Partners Trading Up 1.5%
Western Midstream Partners stock opened at $37.16 on Monday. Western Midstream Partners, LP has a 12-month low of $33.60 and a 12-month high of $43.33. The firm has a market capitalization of $14.17 billion, a price-to-earnings ratio of 9.48, a P/E/G ratio of 1.40 and a beta of 1.12. The firm has a 50 day moving average of $38.66 and a 200 day moving average of $39.25. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.05.
Western Midstream Partners (NYSE:WES - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The pipeline company reported $0.79 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.83 by ($0.04). The business had revenue of $917.12 million during the quarter, compared to analysts' expectations of $926.55 million. Western Midstream Partners had a return on equity of 46.02% and a net margin of 42.99%. The company's quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.47 EPS. As a group, research analysts predict that Western Midstream Partners, LP will post 4.02 earnings per share for the current year.
Western Midstream Partners Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Friday, May 2nd will be issued a dividend of $0.91 per share. This is a positive change from Western Midstream Partners's previous quarterly dividend of $0.88. This represents a $3.64 dividend on an annualized basis and a yield of 9.80%. The ex-dividend date is Friday, May 2nd. Western Midstream Partners's dividend payout ratio (DPR) is 108.66%.
Analyst Upgrades and Downgrades
Separately, StockNews.com raised Western Midstream Partners from a "hold" rating to a "buy" rating in a research note on Saturday, March 8th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $38.33.
View Our Latest Research Report 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.
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Want to see what other hedge funds are holding WES? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Western Midstream Partners, LP (NYSE:WES - Free Report).
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