Oppenheimer Asset Management Inc. trimmed its holdings in shares of Western Midstream Partners, LP (NYSE:WES – Free Report) by 33.1% during the first quarter, HoldingsChannel reports. The firm owned 39,251 shares of the pipeline company’s stock after selling 19,419 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Western Midstream Partners were worth $1,608,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently made changes to their positions in the company. Princeton Global Asset Management LLC raised its stake in shares of Western Midstream Partners by 133.3% during 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 period. Cary Street Partners Financial LLC purchased a new stake in Western Midstream Partners in the 4th quarter worth about $39,000. Harbour Investments Inc. increased its holdings in Western Midstream Partners by 555.6% in the 4th 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 last quarter. Global Retirement Partners LLC purchased a new stake in Western Midstream Partners in the 4th quarter worth about $51,000. Finally, Farther Finance Advisors LLC increased its holdings in Western Midstream Partners by 34.7% in the 4th quarter. Farther Finance Advisors LLC now owns 1,935 shares of the pipeline company’s stock worth $74,000 after acquiring an additional 498 shares during the last quarter. 84.82% of the stock is currently owned by institutional investors.
Western Midstream Partners Trading Up 0.4%
Shares of NYSE:WES opened at $38.54 on Friday. The company has a market cap of $14.70 billion, a P/E ratio of 11.50 and a beta of 1.09. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.18 and a quick ratio of 1.18. Western Midstream Partners, LP has a 1 year low of $33.60 and a 1 year high of $43.33. The stock’s fifty day moving average price is $38.13 and its 200-day moving average price is $39.28.
Western Midstream Partners Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Friday, May 2nd were paid a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 9.44%. This is a positive change 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 (DPR) is presently 108.66%.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on WES shares. Wall Street Zen raised Western Midstream Partners from a “hold” rating to a “buy” rating in a report on Saturday, March 8th. Mizuho reduced their target price on Western Midstream Partners from $45.00 to $44.00 and set an “outperform” rating for the company in a report on Tuesday, May 20th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $39.83.
Get Our Latest Research Report on WES
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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