Western Midstream Partners, LP $WES Stock Holdings Boosted by Alps Advisors Inc.

Alps Advisors Inc. increased its stake in shares of Western Midstream Partners, LP (NYSE:WES) by 0.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,074,357 shares of the pipeline company’s stock after buying an additional 299,631 shares during the quarter. Western Midstream Partners comprises about 8.1% of Alps Advisors Inc.’s holdings, making the stock its largest position. Alps Advisors Inc. owned approximately 0.09% of Western Midstream Partners worth $1,385,437,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Western Midstream Partners in the 3rd quarter valued at approximately $300,257,000. Texas Yale Capital Corp. boosted its holdings in Western Midstream Partners by 6.8% in the 3rd quarter. Texas Yale Capital Corp. now owns 575,809 shares of the pipeline company’s stock valued at $22,624,000 after purchasing an additional 36,438 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its holdings in Western Midstream Partners by 21.2% in the 4th quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,540,900 shares of the pipeline company’s stock valued at $60,866,000 after purchasing an additional 270,000 shares in the last quarter. Jefferies Financial Group Inc. purchased a new stake in Western Midstream Partners in the 4th quarter valued at approximately $5,455,000. Finally, Advisors Asset Management Inc. boosted its holdings in Western Midstream Partners by 18.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 186,853 shares of the pipeline company’s stock valued at $7,341,000 after purchasing an additional 29,754 shares in the last quarter. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Western Midstream Partners Trading Down 1.0%

Shares of Western Midstream Partners stock opened at $43.81 on Friday. 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. The company has a market capitalization of $17.25 billion, a P/E ratio of 14.32, a P/E/G ratio of 1.86 and a beta of 0.68. The business has a 50 day moving average price of $43.04 and a 200 day moving average price of $41.55.

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

Western Midstream Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were issued a $0.93 dividend. This is a boost from Western Midstream Partners’s previous quarterly dividend of $0.91. The ex-dividend date was Friday, May 1st. This represents a $3.72 annualized dividend and a yield of 8.5%. Western Midstream Partners’s payout ratio is presently 121.57%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Wall Street Zen raised Western Midstream Partners from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Wells Fargo & Company boosted their price target on Western Midstream Partners from $41.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 13th. JPMorgan Chase & Co. decreased their price target on Western Midstream Partners from $44.00 to $43.00 and set a “neutral” rating on the stock in a research note on Thursday, March 12th. Citigroup boosted their price target on Western Midstream Partners from $39.00 to $42.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 12th. Finally, Stifel Nicolaus set a $46.00 price target on Western Midstream Partners and gave the stock a “buy” rating in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $44.75.

About Western Midstream Partners

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.