Western Midstream Partners, LP (NYSE:WES) Short Interest Update

Key Points

• Western Midstream Partners experienced a significant increase in short interest of 34.7% in August, with a total of 7.3 million shares sold short, indicating heightened market skepticism.
• The company recently declared a quarterly dividend of $0.91 per share, reflecting an annualized amount of $3.64, which translates to a high yield of 9.6%.
• Analysts have mixed views on the stock, with a consensus price target of $39.60 and ratings ranging from Buy to Sell, which suggests uncertainty in the stock's performance going forward.

Western Midstream Partners, LP (NYSE:WES - Get Free Report) was the recipient of a large increase in short interest in the month of August. As of August 15th, there was short interest totaling 7,300,000 shares, anincreaseof34.7% from the July 31st total of 5,420,000 shares. Approximately3.4% of the company's shares are sold short. Based on an average daily trading volume, of 1,090,000 shares, the short-interest ratio is presently 6.7 days. Based on an average daily trading volume, of 1,090,000 shares, the short-interest ratio is presently 6.7 days. Approximately3.4% of the company's shares are sold short.

Western Midstream Partners Stock Down 0.1%

WES traded down $0.04 during trading on Monday, hitting $38.01. 983,243 shares of the company's stock traded hands, compared to its average volume of 1,197,884. The company's 50 day simple moving average is $39.17 and its two-hundred day simple moving average is $38.85. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 2.08. Western Midstream Partners has a 12-month low of $33.60 and a 12-month high of $43.33. The stock has a market capitalization of $14.49 billion, a price-to-earnings ratio of 11.69 and a beta of 1.18.

Western Midstream Partners (NYSE:WES - Get Free Report) last released its earnings results on Wednesday, August 6th. The pipeline company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.05. Western Midstream Partners had a net margin of 34.45% and a return on equity of 37.70%. The company had revenue of $942.32 million during the quarter, compared to analyst estimates of $954.17 million. During the same period in the prior year, the firm posted $0.97 EPS. The firm's quarterly revenue was up 4.1% compared to the same quarter last year. Analysts predict that Western Midstream Partners will post 4.02 earnings per share for the current fiscal year.

Western Midstream Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Friday, August 1st were given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 9.6%. The ex-dividend date of this dividend was Friday, August 1st. Western Midstream Partners's dividend payout ratio (DPR) is currently 112.00%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Daymark Wealth Partners LLC grew its position in Western Midstream Partners by 0.6% during the second quarter. Daymark Wealth Partners LLC now owns 45,774 shares of the pipeline company's stock worth $1,771,000 after buying an additional 268 shares during the period. Apollon Wealth Management LLC lifted its position in Western Midstream Partners by 1.0% in the 2nd quarter. Apollon Wealth Management LLC now owns 26,382 shares of the pipeline company's stock valued at $1,021,000 after purchasing an additional 269 shares during the last quarter. Jaffetilchin Investment Partners LLC raised its position in shares of Western Midstream Partners by 6.4% during the 2nd quarter. Jaffetilchin Investment Partners LLC now owns 5,201 shares of the pipeline company's stock worth $201,000 after buying an additional 312 shares in the last quarter. Princeton Global Asset Management LLC grew its stake in shares of Western Midstream Partners by 133.3% in the 1st quarter. Princeton Global Asset Management LLC now owns 700 shares of the pipeline company's stock worth $29,000 after purchasing an additional 400 shares during the last quarter. Finally, Journey Strategic Wealth LLC grew its position in Western Midstream Partners by 7.3% during the second quarter. Journey Strategic Wealth LLC now owns 5,900 shares of the pipeline company's stock valued at $228,000 after purchasing an additional 400 shares in the last quarter. 84.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Royal Bank Of Canada upped their target price on Western Midstream Partners from $38.00 to $39.00 and gave the company a "sector perform" rating in a research note on Tuesday, August 26th. Mizuho lifted their target price on Western Midstream Partners from $44.00 to $46.00 and gave the stock an "outperform" rating in a research note on Friday, August 29th. Finally, Morgan Stanley lowered their price target on Western Midstream Partners from $41.00 to $39.00 and set an "underweight" rating for the company in a report on Tuesday, August 26th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Western Midstream Partners presently has an average rating of "Reduce" and a consensus price target of $39.60.

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.

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