Western Midstream Partners, LP (NYSE:WES) Stake Lessened by BNP Paribas Financial Markets

BNP Paribas Financial Markets cut its stake in Western Midstream Partners, LP (NYSE:WES - Free Report) by 65.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 152,159 shares of the pipeline company's stock after selling 288,406 shares during the period. BNP Paribas Financial Markets' holdings in Western Midstream Partners were worth $4,452,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Larson Financial Group LLC purchased a new stake in shares of Western Midstream Partners in the 3rd quarter valued at $27,000. Fortitude Family Office LLC purchased a new position in shares of Western Midstream Partners during the 4th quarter valued at about $43,000. UMB Bank n.a. purchased a new position in shares of Western Midstream Partners during the 4th quarter valued at about $74,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Western Midstream Partners in the fourth quarter worth about $80,000. Finally, CENTRAL TRUST Co grew its holdings in Western Midstream Partners by 518.4% during the fourth quarter. CENTRAL TRUST Co now owns 4,205 shares of the pipeline company's stock worth $123,000 after acquiring an additional 3,525 shares during the period. Hedge funds and other institutional investors own 42.94% of the company's stock.

Western Midstream Partners Trading Down 0.1 %

NYSE:WES traded down $0.05 during trading hours on Tuesday, hitting $38.53. The company had a trading volume of 1,025,520 shares, compared to its average volume of 1,265,182. Western Midstream Partners, LP has a 1 year low of $25.04 and a 1 year high of $38.78. The company has a market cap of $14.66 billion, a P/E ratio of 10.85 and a beta of 2.82. The company has a 50-day moving average of $35.58 and a 200 day moving average of $31.51. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 2.15.

Western Midstream Partners (NYSE:WES - Get Free Report) last announced its quarterly earnings data on Wednesday, May 8th. The pipeline company reported $1.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.85 by $0.62. Western Midstream Partners had a net margin of 42.50% and a return on equity of 44.76%. The firm had revenue of $887.73 million during the quarter, compared to analyst estimates of $868.22 million. During the same quarter in the prior year, the firm posted $0.52 earnings per share. Western Midstream Partners's quarterly revenue was up 20.9% on a year-over-year basis. Sell-side analysts expect that Western Midstream Partners, LP will post 3.64 earnings per share for the current year.

Western Midstream Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were given a dividend of $0.875 per share. This represents a $3.50 annualized dividend and a dividend yield of 9.08%. The ex-dividend date was Tuesday, April 30th. This is a positive change from Western Midstream Partners's previous quarterly dividend of $0.58. Western Midstream Partners's payout ratio is presently 98.59%.

Wall Street Analyst Weigh In

WES has been the topic of several recent research reports. Raymond James restated a "market perform" rating on shares of Western Midstream Partners in a research report on Tuesday, March 19th. Mizuho lifted their price objective on shares of Western Midstream Partners from $34.00 to $39.00 and gave the company a "buy" rating in a report on Tuesday, May 7th. Wells Fargo & Company increased their target price on shares of Western Midstream Partners from $34.00 to $35.00 and gave the stock an "equal weight" rating in a research note on Tuesday. Stifel Nicolaus lifted their price target on Western Midstream Partners from $35.00 to $36.00 and gave the company a "buy" rating in a research note on Friday, February 23rd. Finally, StockNews.com lowered Western Midstream Partners from a "strong-buy" rating to a "buy" rating in a research report on Saturday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $31.55.

Insider Activity at Western Midstream Partners

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

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.