Western Midstream Partners, LP (NYSE:WES) Position Trimmed by Miller Howard Investments Inc. NY

Miller Howard Investments Inc. NY reduced its holdings in Western Midstream Partners, LP (NYSE:WES) by 8.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,567,197 shares of the pipeline company’s stock after selling 140,484 shares during the quarter. Western Midstream Partners makes up 2.0% of Miller Howard Investments Inc. NY’s portfolio, making the stock its 18th biggest position. Miller Howard Investments Inc. NY owned approximately 0.41% of Western Midstream Partners worth $60,227,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of WES. Truist Financial Corp grew its stake in Western Midstream Partners by 1.9% during the 2nd quarter. Truist Financial Corp now owns 22,508 shares of the pipeline company’s stock worth $894,000 after buying an additional 421 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Western Midstream Partners during the second quarter valued at $694,000. Inspire Investing LLC grew its position in shares of Western Midstream Partners by 7.4% during the third quarter. Inspire Investing LLC now owns 21,890 shares of the pipeline company’s stock worth $838,000 after acquiring an additional 1,502 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of Western Midstream Partners by 3.2% in the 3rd quarter. Exchange Traded Concepts LLC now owns 231,872 shares of the pipeline company’s stock worth $8,871,000 after acquiring an additional 7,111 shares during the period. Finally, Cedar Mountain Advisors LLC lifted its position in 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 last quarter. 84.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. StockNews.com lowered shares of Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 28th. US Capital Advisors upgraded Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 26th. Morgan Stanley lowered Western Midstream Partners from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $42.00 to $40.00 in a research report on Friday, October 25th. 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. Finally, UBS Group reduced their price objective on shares of Western Midstream Partners from $40.00 to $37.00 and set a “neutral” rating for the company in a report on Friday, November 15th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $37.88.

Western Midstream Partners Stock Down 0.2 %

WES stock opened at $40.35 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. The firm has a market cap of $15.36 billion, a PE ratio of 10.29, a P/E/G ratio of 1.36 and a beta of 2.88. Western Midstream Partners, LP has a 12 month low of $27.87 and a 12 month high of $43.33. The firm has a 50 day simple moving average of $40.16 and a 200 day simple moving average of $39.12.

Western Midstream Partners (NYSE:WES) last released its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.09). Western Midstream Partners had a return on equity of 46.02% and a net margin of 42.99%. The company had revenue of $883.36 million for the quarter, compared to the consensus estimate of $924.83 million. During the same period in the prior year, the business earned $0.70 earnings per share. The business’s revenue was up 13.8% compared to the same quarter last year. Equities research analysts forecast that Western Midstream Partners, LP will post 4.02 earnings per share for the current fiscal year.

Western Midstream Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be issued a dividend of $0.875 per share. The ex-dividend date is Monday, February 3rd. This represents a $3.50 annualized dividend and a yield of 8.67%. Western Midstream Partners’s payout ratio is presently 89.29%.

About Western Midstream Partners

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.