Western Midstream Partners, LP $WES Shares Acquired by Advisors Asset Management Inc.

Advisors Asset Management Inc. increased its holdings in Western Midstream Partners, LP (NYSE:WES) by 18.9% in the third quarter, HoldingsChannel.com reports. The firm owned 186,853 shares of the pipeline company’s stock after buying an additional 29,754 shares during the quarter. Advisors Asset Management Inc.’s holdings in Western Midstream Partners were worth $7,341,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Jones Financial Companies Lllp lifted its position in shares of Western Midstream Partners by 86.1% in the third quarter. Jones Financial Companies Lllp now owns 908 shares of the pipeline company’s stock valued at $36,000 after acquiring an additional 420 shares in the last quarter. MTM Investment Management LLC purchased a new position in Western Midstream Partners in the 2nd quarter valued at $39,000. Allworth Financial LP acquired a new stake in Western Midstream Partners during the 2nd quarter worth $43,000. Mather Group LLC. acquired a new stake in Western Midstream Partners during the 3rd quarter worth $49,000. Finally, Global Retirement Partners LLC grew its holdings in shares of Western Midstream Partners by 39.0% during the third quarter. Global Retirement Partners LLC now owns 1,850 shares of the pipeline company’s stock worth $73,000 after buying an additional 519 shares in the last quarter. Institutional investors and hedge funds own 84.82% of the company’s stock.

Western Midstream Partners Price Performance

WES opened at $42.46 on Thursday. The stock’s 50-day moving average price is $40.32 and its 200 day moving average price is $39.25. Western Midstream Partners, LP has a 12-month low of $33.60 and a 12-month high of $42.80. 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 firm has a market cap of $17.32 billion, a price-to-earnings ratio of 12.56 and a beta of 0.77.

Western Midstream Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Monday, February 2nd will be issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 8.6%. The ex-dividend date is Monday, February 2nd. Western Midstream Partners’s dividend payout ratio (DPR) is presently 107.69%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Royal Bank Of Canada boosted their price target on shares of Western Midstream Partners from $39.00 to $42.00 and gave the stock a “sector perform” rating in a research report on Friday, November 28th. Wall Street Zen lowered shares of Western Midstream Partners from a “buy” rating to a “hold” rating in a research note on Saturday, December 27th. Citigroup started coverage on Western Midstream Partners in a report on Monday, October 20th. They set a “neutral” rating and a $39.00 target price on the stock. Stifel Nicolaus set a $43.00 price target on Western Midstream Partners in a report on Thursday, November 6th. Finally, Wells Fargo & Company reduced 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 report on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Western Midstream Partners has an average 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.