MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Increases Holdings in Western Midstream Partners, LP (NYSE:WES)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Western Midstream Partners, LP (NYSE:WES - Free Report) by 23.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 7,273,186 shares of the pipeline company's stock after acquiring an additional 1,366,341 shares during the quarter. Western Midstream Partners comprises about 0.6% of MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s portfolio, making the stock its 26th biggest holding. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 1.91% of Western Midstream Partners worth $279,509,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently modified their holdings of the stock. Invesco Ltd. lifted its position in shares of Western Midstream Partners by 6.6% during the 4th quarter. Invesco Ltd. now owns 22,809,161 shares of the pipeline company's stock valued at $876,556,000 after acquiring an additional 1,406,362 shares during the period. Tortoise Capital Advisors L.L.C. lifted its position in shares of Western Midstream Partners by 2.0% during the 4th quarter. Tortoise Capital Advisors L.L.C. now owns 8,064,089 shares of the pipeline company's stock valued at $309,903,000 after acquiring an additional 159,016 shares during the period. Eagle Global Advisors LLC lifted its position in shares of Western Midstream Partners by 23.2% during the 4th quarter. Eagle Global Advisors LLC now owns 2,434,080 shares of the pipeline company's stock valued at $93,542,000 after acquiring an additional 458,111 shares during the period. BROOKFIELD Corp ON lifted its position in shares of Western Midstream Partners by 1.0% during the 4th quarter. BROOKFIELD Corp ON now owns 1,683,790 shares of the pipeline company's stock valued at $64,708,000 after acquiring an additional 15,978 shares during the period. Finally, Barclays PLC lifted its position in shares of Western Midstream Partners by 83.1% during the 4th quarter. Barclays PLC now owns 1,404,381 shares of the pipeline company's stock valued at $53,971,000 after acquiring an additional 637,266 shares during the period. 84.82% of the stock is currently owned by institutional investors.

Western Midstream Partners Stock Performance

NYSE:WES traded up $0.04 during trading hours on Friday, reaching $39.59. The stock had a trading volume of 724,815 shares, compared to its average volume of 1,241,485. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a 50 day simple moving average of $38.67 and a 200 day simple moving average of $39.28. Western Midstream Partners, LP has a 12-month low of $33.60 and a 12-month high of $43.33. The stock has a market cap of $15.10 billion, a P/E ratio of 10.10, a price-to-earnings-growth ratio of 1.40 and a beta of 1.12.

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

Western Midstream Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Friday, May 2nd were paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 9.19%. The ex-dividend date of this dividend was Friday, May 2nd. This is a positive change from Western Midstream Partners's previous quarterly dividend of $0.88. Western Midstream Partners's payout ratio is 108.66%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Western Midstream Partners from a "hold" rating to a "buy" rating in a research report on Saturday, March 8th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, Western Midstream Partners has a consensus rating of "Hold" and an average target price of $38.33.

Western Midstream Partners 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.