Tortoise Capital Advisors L.L.C. Has $309.90 Million Stock Position in Western Midstream Partners, LP (NYSE:WES)

Tortoise Capital Advisors L.L.C. grew its position in shares of Western Midstream Partners, LP (NYSE:WES - Free Report) by 2.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,064,089 shares of the pipeline company's stock after buying an additional 159,016 shares during the quarter. Western Midstream Partners makes up about 4.0% of Tortoise Capital Advisors L.L.C.'s investment portfolio, making the stock its 9th largest holding. Tortoise Capital Advisors L.L.C. owned approximately 2.12% of Western Midstream Partners worth $309,903,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Apollon Wealth Management LLC raised its holdings in Western Midstream Partners by 1.2% in the 4th quarter. Apollon Wealth Management LLC now owns 25,691 shares of the pipeline company's stock worth $987,000 after acquiring an additional 295 shares during the period. RE Dickinson Investment Advisors LLC increased its stake in shares of Western Midstream Partners by 21.8% in the fourth quarter. RE Dickinson Investment Advisors LLC now owns 2,168 shares of the pipeline company's stock worth $83,000 after purchasing an additional 388 shares during the period. Farther Finance Advisors LLC lifted its position in shares of Western Midstream Partners by 34.7% during the 4th quarter. Farther Finance Advisors LLC now owns 1,935 shares of the pipeline company's stock worth $74,000 after purchasing an additional 498 shares during the last quarter. PFG Investments LLC boosted its stake in Western Midstream Partners by 1.6% during the 4th quarter. PFG Investments LLC now owns 33,424 shares of the pipeline company's stock valued at $1,284,000 after purchasing an additional 540 shares during the period. Finally, Mutual Advisors LLC increased its position in Western Midstream Partners by 10.5% in the 4th quarter. Mutual Advisors LLC now owns 6,060 shares of the pipeline company's stock worth $247,000 after buying an additional 577 shares during the period. Institutional investors own 84.82% of the company's stock.

Western Midstream Partners Stock Performance

Shares of NYSE WES traded down $0.77 during trading hours on Friday, reaching $38.40. The stock had a trading volume of 433,086 shares, compared to its average volume of 1,246,970. Western Midstream Partners, LP has a twelve month low of $33.60 and a twelve month high of $43.33. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.11 and a quick ratio of 1.11. The business's fifty day moving average is $39.40 and its two-hundred day moving average is $39.38. The company has a market cap of $14.64 billion, a price-to-earnings ratio of 9.80, a PEG ratio of 1.40 and a beta of 2.40.

Western Midstream Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Friday, May 2nd will be issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 9.48%. 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 dividend payout ratio (DPR) is presently 90.32%.

Analysts Set New Price Targets

Separately, StockNews.com raised Western Midstream Partners from a "hold" rating to a "buy" rating in a research report on Saturday, March 8th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, Western Midstream Partners currently has a consensus rating of "Hold" and a consensus price target of $38.43.

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.