Allianz Asset Management GmbH Decreases Position in Western Midstream Partners, LP $WES

Allianz Asset Management GmbH lowered its stake in Western Midstream Partners, LP (NYSE:WES) by 27.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 270,864 shares of the pipeline company’s stock after selling 103,500 shares during the period. Allianz Asset Management GmbH’s holdings in Western Midstream Partners were worth $10,642,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Quantum Financial Planning Services Inc. acquired a new stake in shares of Western Midstream Partners in the 2nd quarter worth $310,000. Advisors Asset Management Inc. raised its stake in shares of Western Midstream Partners by 17.2% during the 2nd quarter. Advisors Asset Management Inc. now owns 157,099 shares of the pipeline company’s stock worth $6,080,000 after buying an additional 23,023 shares in the last quarter. Catalyst Capital Advisors LLC raised its stake in shares of Western Midstream Partners by 2.4% during the 2nd quarter. Catalyst Capital Advisors LLC now owns 472,420 shares of the pipeline company’s stock worth $18,283,000 after buying an additional 11,055 shares in the last quarter. Stephens Inc. AR raised its position in Western Midstream Partners by 215.4% in the second quarter. Stephens Inc. AR now owns 131,361 shares of the pipeline company’s stock worth $5,084,000 after acquiring an additional 89,707 shares in the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its position in shares of Western Midstream Partners by 5.6% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,270,900 shares of the pipeline company’s stock worth $49,934,000 after purchasing an additional 67,000 shares in the last quarter. 84.82% of the stock is currently owned by institutional investors and hedge funds.

Western Midstream Partners Price Performance

WES stock opened at $41.08 on Monday. The company has a market cap of $16.76 billion, a PE ratio of 12.15 and a beta of 0.77. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 2.08. The stock has a 50-day moving average price of $40.16 and a two-hundred day moving average price of $39.21. Western Midstream Partners, LP has a 12-month low of $33.60 and a 12-month high of $42.80.

Western Midstream Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Monday, February 2nd will be given a $0.91 dividend. The ex-dividend date of this dividend is Monday, February 2nd. This represents a $3.64 annualized dividend and a dividend yield of 8.9%. Western Midstream Partners’s dividend payout ratio is presently 107.69%.

Analysts Set New Price Targets

WES has been the subject of several research reports. Royal Bank Of Canada lifted their price objective on Western Midstream Partners from $39.00 to $42.00 and gave the stock a “sector perform” rating in a report on Friday, November 28th. Stifel Nicolaus set a $43.00 target price on Western Midstream Partners in a report on Thursday, November 6th. Citigroup began coverage on Western Midstream Partners in a report on Monday, October 20th. They issued a “neutral” rating and a $39.00 price target for the company. Wells Fargo & Company decreased their price objective on Western Midstream Partners from $40.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 22nd. Finally, Wall Street Zen cut Western Midstream Partners from a “buy” rating to a “hold” rating in a research report on Saturday, December 27th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Western Midstream Partners currently has a consensus rating of “Hold” and a consensus target price of $41.33.

Western Midstream Partners Company Profile

Western Midstream Partners, LP (NYSE: WES) is a midstream energy infrastructure company that owns, operates and develops an integrated network of crude oil, natural gas and produced water gathering, processing, transportation and storage assets in the United States. The partnership’s primary offerings include pipeline transportation, fractionation services, natural gas liquids (NGL) logistics and produced water handling. Through its fee-based and commodity-based contracts, Western Midstream provides its customers with essential services that support efficient energy production and distribution.

The company’s asset portfolio spans key onshore basins, including the Delaware Basin in West Texas and southeastern New Mexico, the San Juan Basin in New Mexico and Colorado, and the Denver-Julesburg Basin in Colorado.