Western Midstream Partners, LP (NYSE:WES) is Eagle Global Advisors LLC's 3rd Largest Position

Eagle Global Advisors LLC increased its stake in shares of Western Midstream Partners, LP (NYSE:WES - Free Report) by 23.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,434,080 shares of the pipeline company's stock after purchasing an additional 458,111 shares during the quarter. Western Midstream Partners accounts for 3.8% of Eagle Global Advisors LLC's holdings, making the stock its 3rd biggest holding. Eagle Global Advisors LLC owned approximately 0.64% of Western Midstream Partners worth $93,542,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Cary Street Partners Financial LLC purchased a new stake in shares of Western Midstream Partners in the 4th quarter worth $39,000. Harbour Investments Inc. lifted 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 acquiring 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 about $51,000. Empowered Funds LLC bought a new position in Western Midstream Partners during the 4th quarter worth about $53,000. Finally, Kieckhefer Group LLC purchased a new position in Western Midstream Partners during the 4th quarter valued at about $58,000. Hedge funds and other institutional investors own 84.82% of the company's stock.

Western Midstream Partners Price Performance

Shares of NYSE:WES traded up $0.54 during trading on Friday, reaching $37.16. The stock had a trading volume of 1,187,216 shares, compared to its average volume of 1,250,489. The business has a fifty day moving average price of $38.66 and a 200-day moving average price of $39.24. Western Midstream Partners, LP has a 1-year low of $33.60 and a 1-year high of $43.33. 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 market cap of $14.17 billion, a PE ratio of 9.48, a PEG ratio of 1.40 and a beta of 1.12.

Western Midstream Partners (NYSE:WES - Get Free Report) last released its earnings results on Wednesday, May 7th. The pipeline company reported $0.79 earnings per share 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 revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period last year, the business earned $1.47 earnings per share. On average, equities analysts forecast that Western Midstream Partners, LP will post 4.02 earnings per share for the current fiscal year.

Western Midstream Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Friday, May 2nd will be paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 9.80%. This is an increase from Western Midstream Partners's previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Friday, May 2nd. Western Midstream Partners's payout ratio is 108.66%.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Western Midstream Partners from a "hold" rating to a "buy" rating in a research note on Saturday, March 8th. Two investment 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 data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $38.33.

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.