Fort Washington Investment Advisors Inc. OH Buys 24,573 Shares of Western Midstream Partners, LP $WES

Fort Washington Investment Advisors Inc. OH increased its stake in shares of Western Midstream Partners, LP (NYSE:WES) by 45.3% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 78,819 shares of the pipeline company’s stock after purchasing an additional 24,573 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in Western Midstream Partners were worth $3,245,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Alps Advisors Inc. grew its holdings in Western Midstream Partners by 0.9% during the 4th quarter. Alps Advisors Inc. now owns 35,074,357 shares of the pipeline company’s stock valued at $1,385,437,000 after buying an additional 299,631 shares in the last quarter. Invesco Ltd. increased its position in shares of Western Midstream Partners by 0.3% during the third quarter. Invesco Ltd. now owns 24,292,437 shares of the pipeline company’s stock valued at $954,450,000 after buying an additional 81,183 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Western Midstream Partners by 10.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 9,562,213 shares of the pipeline company’s stock worth $377,707,000 after buying an additional 936,376 shares in the last quarter. Tortoise Capital Advisors L.L.C. lifted its holdings in shares of Western Midstream Partners by 15.8% in the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 8,539,175 shares of the pipeline company’s stock worth $337,297,000 after buying an additional 1,163,991 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Western Midstream Partners in the third quarter valued at approximately $300,257,000. Institutional investors own 84.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. US Capital Advisors raised shares of Western Midstream Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, May 29th. Mizuho initiated coverage on shares of Western Midstream Partners in a research note on Wednesday, June 17th. They issued an “outperform” rating and a $48.00 target price on the stock. Morgan Stanley raised shares of Western Midstream Partners from an “underweight” rating to an “equal weight” rating and set a $51.00 price target for the company in a report on Wednesday, June 10th. Wells Fargo & Company boosted their price target on shares of Western Midstream Partners from $41.00 to $43.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 13th. Finally, Stifel Nicolaus set a $46.00 price target on shares of Western Midstream Partners and gave the stock a “buy” rating in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $45.00.

Western Midstream Partners Trading Up 1.2%

Shares of WES opened at $43.53 on Tuesday. The firm’s 50 day simple moving average is $43.62 and its 200 day simple moving average is $41.89. The company has a market capitalization of $17.14 billion, a P/E ratio of 14.23, a P/E/G ratio of 1.81 and a beta of 0.69. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.09 and a quick ratio of 1.09. Western Midstream Partners, LP has a 1-year low of $36.90 and a 1-year high of $48.01.

Western Midstream Partners (NYSE:WES) last announced its earnings results on Wednesday, May 6th. The pipeline company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.11. Western Midstream Partners had a net margin of 29.98% and a return on equity of 33.89%. The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the business posted $0.79 earnings per share. Western Midstream Partners’s revenue for the quarter was up 22.5% on a year-over-year basis. Sell-side analysts forecast that Western Midstream Partners, LP will post 3.44 earnings per share for the current fiscal year.

Western Midstream Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were issued a dividend of $0.93 per share. The ex-dividend date of this dividend was Friday, May 1st. This represents a $3.72 dividend on an annualized basis and a dividend yield of 8.5%. This is an increase from Western Midstream Partners’s previous quarterly dividend of $0.91. Western Midstream Partners’s payout ratio is presently 121.57%.

Western Midstream Partners 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.