Wealth Enhancement Advisory Services LLC Purchases 9,506 Shares of Western Midstream Partners, LP (NYSE:WES)

Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Western Midstream Partners, LP (NYSE:WES) by 29.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,294 shares of the pipeline company’s stock after acquiring an additional 9,506 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Western Midstream Partners were worth $1,625,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Apollon Wealth Management LLC increased its position in Western Midstream Partners by 1.2% during the 4th quarter. Apollon Wealth Management LLC now owns 25,691 shares of the pipeline company’s stock valued at $987,000 after purchasing an additional 295 shares during the period. Empowered Funds LLC bought a new stake in shares of Western Midstream Partners during the 4th quarter valued at about $53,000. Van ECK Associates Corp increased its position in shares of Western Midstream Partners by 39.2% during the fourth quarter. Van ECK Associates Corp now owns 42,612 shares of the pipeline company’s stock valued at $1,638,000 after buying an additional 11,996 shares during the period. Autumn Glory Partners LLC bought a new position in Western Midstream Partners in the fourth quarter worth about $652,000. Finally, Americana Partners LLC lifted its holdings in Western Midstream Partners by 4.7% in the fourth quarter. Americana Partners LLC now owns 149,581 shares of the pipeline company’s stock worth $5,748,000 after buying an additional 6,699 shares during the period. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Wall Street Zen upgraded Western Midstream Partners from a “hold” rating to a “buy” rating in a report on Saturday, March 8th. Mizuho reduced their price target on Western Midstream Partners from $45.00 to $44.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 20th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $39.83.

Western Midstream Partners Stock Performance

Shares of WES opened at $38.18 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.05. The stock has a market cap of $14.56 billion, a P/E ratio of 9.74, a P/E/G ratio of 1.40 and a beta of 1.12. The business’s 50 day moving average price is $37.82 and its 200-day moving average price is $39.39. Western Midstream Partners, LP has a 52 week low of $33.60 and a 52 week high of $43.33.

Western Midstream Partners (NYSE:WES) last released 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). Western Midstream Partners had a return on equity of 46.02% and a net margin of 42.99%. The company had revenue of $917.12 million during the quarter, compared to the consensus estimate of $926.55 million. During the same period last year, the firm posted $1.47 earnings per share. The company’s revenue was up 3.3% compared to the same quarter last year. Equities research analysts anticipate that Western Midstream Partners, LP will post 4.02 earnings per share for the current fiscal year.

Western Midstream Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Friday, May 2nd were given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 9.53%. This is an increase from Western Midstream Partners’s previous quarterly dividend of $0.88. The ex-dividend date was Friday, May 2nd. Western Midstream Partners’s dividend payout ratio 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.