Western Midstream Partners, LP (NYSE:WES) Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC reduced its holdings in Western Midstream Partners, LP (NYSE:WES) by 7.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 215,060 shares of the pipeline company’s stock after selling 16,812 shares during the quarter. Exchange Traded Concepts LLC owned 0.06% of Western Midstream Partners worth $8,265,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in WES. Farther Finance Advisors LLC increased its holdings in shares of Western Midstream Partners by 287.3% in the third quarter. Farther Finance Advisors LLC now owns 1,437 shares of the pipeline company’s stock valued at $55,000 after buying an additional 1,066 shares in the last quarter. Kieckhefer Group LLC acquired a new stake in shares of Western Midstream Partners during the fourth quarter worth $58,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Western Midstream Partners during the second quarter worth $74,000. Avondale Wealth Management purchased a new stake in shares of Western Midstream Partners during the fourth quarter valued at $77,000. Finally, Cedar Mountain Advisors LLC boosted its position in shares of Western Midstream Partners by 16.1% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 2,158 shares of the pipeline company’s stock valued at $83,000 after purchasing an additional 299 shares during the period. 84.82% of the stock is owned by institutional investors and hedge funds.

Western Midstream Partners Stock Performance

Shares of NYSE WES opened at $42.39 on Friday. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.11 and a quick ratio of 1.11. Western Midstream Partners, LP has a one year low of $27.84 and a one year high of $43.33. The business’s 50-day moving average price is $39.67 and its two-hundred day moving average price is $39.15. The company has a market capitalization of $16.13 billion, a P/E ratio of 10.81, a price-to-earnings-growth ratio of 1.41 and a beta of 2.90.

Western Midstream Partners (NYSE:WES) last announced its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.74 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.09). The firm had revenue of $883.36 million during the quarter, compared to the consensus estimate of $924.83 million. Western Midstream Partners had a net margin of 42.99% and a return on equity of 46.02%. The company’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.70 EPS. Analysts anticipate that Western Midstream Partners, LP will post 4.03 earnings per share for the current fiscal year.

Western Midstream Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be issued a $0.875 dividend. This represents a $3.50 dividend on an annualized basis and a yield of 8.26%. The ex-dividend date is Monday, February 3rd. Western Midstream Partners’s dividend payout ratio is presently 89.29%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. StockNews.com downgraded Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, October 28th. Royal Bank of Canada restated a “sector perform” rating and issued a $41.00 price target on shares of Western Midstream Partners in a research report on Monday, December 9th. UBS Group lowered their price objective on shares of Western Midstream Partners from $40.00 to $37.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. US Capital Advisors upgraded Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 26th. Finally, Bank of America initiated coverage on Western Midstream Partners in a report on Thursday, October 17th. They set an “underperform” rating and a $37.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $37.88.

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.