BNP Paribas Financial Markets Buys 53,961 Shares of Western Midstream Partners, LP (NYSE:WES)

BNP Paribas Financial Markets grew its stake in shares of Western Midstream Partners, LP (NYSE:WES - Free Report) by 5.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,049,979 shares of the pipeline company's stock after acquiring an additional 53,961 shares during the period. BNP Paribas Financial Markets owned about 0.28% of Western Midstream Partners worth $40,351,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Mercer Global Advisors Inc. ADV purchased a new position in Western Midstream Partners in the 4th quarter worth about $212,000. Comerica Bank boosted its stake in Western Midstream Partners by 357.4% in the 4th quarter. Comerica Bank now owns 50,666 shares of the pipeline company's stock worth $1,947,000 after purchasing an additional 39,590 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in Western Midstream Partners during the 4th quarter worth approximately $348,000. Virtus ETF Advisers LLC raised its stake in Western Midstream Partners by 7.3% during the 4th quarter. Virtus ETF Advisers LLC now owns 4,564 shares of the pipeline company's stock valued at $175,000 after purchasing an additional 311 shares during the period. Finally, Integrated Wealth Concepts LLC lifted its holdings in shares of Western Midstream Partners by 4.7% in the fourth quarter. Integrated Wealth Concepts LLC now owns 6,833 shares of the pipeline company's stock valued at $263,000 after purchasing an additional 306 shares in the last quarter. 84.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Western Midstream Partners Stock Up 2.8%

Shares of NYSE WES traded up $1.07 during trading hours on Tuesday, hitting $39.30. The stock had a trading volume of 348,609 shares, compared to its average volume of 1,242,773. The firm's 50-day moving average price is $38.66 and its two-hundred day moving average price is $39.25. Western Midstream Partners, LP has a 52 week low of $33.60 and a 52 week high of $43.33. The company has a market capitalization of $14.99 billion, a P/E ratio of 10.03, a P/E/G ratio of 1.40 and a beta of 1.12. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.11 and a current ratio of 1.11.

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). The business had revenue of $917.12 million during the quarter, compared to the consensus estimate of $926.55 million. Western Midstream Partners had a return on equity of 46.02% and a net margin of 42.99%. The business's revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.47 earnings per share. Analysts anticipate 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 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 annualized dividend and a yield of 9.26%. The ex-dividend date of this dividend is Friday, May 2nd. Western Midstream Partners's dividend payout ratio (DPR) is 108.66%.

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.