Duff & Phelps Investment Management Co. Has $11.21 Million Holdings in Western Midstream Partners, LP (NYSE:WES)

Duff & Phelps Investment Management Co. reduced its position in Western Midstream Partners, LP (NYSE:WES - Free Report) by 14.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 383,000 shares of the pipeline company's stock after selling 64,000 shares during the quarter. Duff & Phelps Investment Management Co. owned 0.10% of Western Midstream Partners worth $11,207,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Alps Advisors Inc. increased its holdings in shares of Western Midstream Partners by 13.0% in the 3rd quarter. Alps Advisors Inc. now owns 33,519,544 shares of the pipeline company's stock valued at $912,737,000 after acquiring an additional 3,855,558 shares during the period. Invesco Ltd. increased its position in shares of Western Midstream Partners by 13.8% during the third quarter. Invesco Ltd. now owns 20,746,835 shares of the pipeline company's stock worth $564,936,000 after purchasing an additional 2,520,712 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Western Midstream Partners by 14.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,280,595 shares of the pipeline company's stock valued at $183,770,000 after purchasing an additional 802,709 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Western Midstream Partners by 15.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,571,428 shares of the pipeline company's stock worth $124,480,000 after purchasing an additional 622,108 shares in the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its position in Western Midstream Partners by 34.4% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,429,316 shares of the pipeline company's stock valued at $38,920,000 after buying an additional 365,739 shares in the last quarter. 42.94% of the stock is owned by hedge funds and other institutional investors.

Western Midstream Partners Stock Performance

NYSE:WES traded up $0.27 during trading hours on Wednesday, reaching $34.37. The company had a trading volume of 1,698,860 shares, compared to its average volume of 1,238,775. The firm has a market cap of $13.08 billion, a PE ratio of 13.24 and a beta of 2.83. Western Midstream Partners, LP has a 1-year low of $24.89 and a 1-year high of $36.79. The business's 50 day moving average price is $34.70 and its 200-day moving average price is $30.55. The company has a debt-to-equity ratio of 2.40, a current ratio of 0.76 and a quick ratio of 0.76.

Western Midstream Partners (NYSE:WES - Get Free Report) last posted its earnings results on Wednesday, February 21st. The pipeline company reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.04). Western Midstream Partners had a net margin of 32.72% and a return on equity of 33.58%. The firm had revenue of $858.21 million during the quarter, compared to analyst estimates of $850.23 million. During the same quarter in the prior year, the firm earned $0.85 earnings per share. The business's revenue for the quarter was up 10.1% on a year-over-year basis. Research analysts forecast that Western Midstream Partners, LP will post 3.47 EPS for the current year.

Western Midstream Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be given a dividend of $0.875 per share. The ex-dividend date of this dividend is Tuesday, April 30th. This is a boost from Western Midstream Partners's previous quarterly dividend of $0.58. This represents a $3.50 dividend on an annualized basis and a dividend yield of 10.18%. Western Midstream Partners's dividend payout ratio (DPR) is 88.46%.

Insider Activity at Western Midstream Partners

In other Western Midstream Partners news, Director Kenneth F. Owen acquired 7,000 shares of the company's stock in a transaction on Monday, February 26th. The shares were bought at an average cost of $33.96 per share, with a total value of $237,720.00. Following the completion of the acquisition, the director now owns 32,730 shares in the company, valued at $1,111,510.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Kenneth F. Owen purchased 7,000 shares of Western Midstream Partners stock in a transaction that occurred on Monday, February 26th. The stock was purchased at an average price of $33.96 per share, for a total transaction of $237,720.00. Following the transaction, the director now directly owns 32,730 shares in the company, valued at $1,111,510.80. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Lisa A. Stewart purchased 2,500 shares of the stock in a transaction dated Wednesday, March 6th. The stock was purchased at an average cost of $34.87 per share, for a total transaction of $87,175.00. Following the completion of the purchase, the director now directly owns 30,730 shares of the company's stock, valued at $1,071,555.10. The disclosure for this purchase can be found here. 0.04% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Citigroup downgraded shares of Western Midstream Partners from a "buy" rating to a "neutral" rating and upped their price objective for the company from $30.00 to $34.00 in a report on Thursday, February 29th. Raymond James reaffirmed a "market perform" rating on shares of Western Midstream Partners in a report on Tuesday, March 19th. Wolfe Research raised shares of Western Midstream Partners from an "underperform" rating to a "peer perform" rating in a report on Thursday, April 18th. Finally, Stifel Nicolaus lifted their price target on Western Midstream Partners from $35.00 to $36.00 and gave the stock a "buy" rating in a research report on Friday, February 23rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $30.64.

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.