Dividend Assets Capital LLC Decreases Stake in Western Midstream Partners, LP (NYSE:WES)

Dividend Assets Capital LLC decreased its holdings in Western Midstream Partners, LP (NYSE:WES) by 1.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 64,577 shares of the pipeline company’s stock after selling 1,075 shares during the quarter. Dividend Assets Capital LLC’s holdings in Western Midstream Partners were worth $2,645,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Princeton Global Asset Management LLC lifted its holdings in Western Midstream Partners by 133.3% in the first quarter. Princeton Global Asset Management LLC now owns 700 shares of the pipeline company’s stock valued at $29,000 after buying an additional 400 shares during the period. Cary Street Partners Financial LLC bought a new position in Western Midstream Partners during the fourth quarter valued at about $39,000. Harbour Investments Inc. raised its stake in Western Midstream Partners by 555.6% in the fourth quarter. Harbour Investments Inc. now owns 1,180 shares of the pipeline company’s stock valued at $45,000 after purchasing an additional 1,000 shares in the last quarter. Global Retirement Partners LLC bought a new position in shares of Western Midstream Partners in the fourth quarter worth approximately $51,000. Finally, Empowered Funds LLC purchased a new position in shares of Western Midstream Partners in the 4th quarter worth about $53,000. Institutional investors and hedge funds own 84.82% of the company’s stock.

Western Midstream Partners Stock Performance

Western Midstream Partners stock opened at $37.36 on Tuesday. The firm has a market capitalization of $14.25 billion, a P/E ratio of 9.53, a price-to-earnings-growth ratio of 1.40 and a beta of 1.09. The company’s 50-day moving average is $37.73 and its 200 day moving average is $39.40. 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 1-year low of $33.60 and a 1-year high of $43.33.

Western Midstream Partners (NYSE:WES) last announced its earnings results on Wednesday, May 7th. The pipeline company reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.04). The business had revenue of $917.12 million for the quarter, compared to analysts’ expectations of $926.55 million. Western Midstream Partners had a return on equity of 46.02% and a net margin of 42.99%. Western Midstream Partners’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.47 earnings per share. Research analysts forecast that Western Midstream Partners, LP will post 4.02 EPS for the current year.

Western Midstream Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Friday, May 2nd were paid a $0.91 dividend. This is a positive change from Western Midstream Partners’s previous quarterly dividend of $0.88. This represents a $3.64 dividend on an annualized basis and a dividend yield of 9.74%. The ex-dividend date of this dividend was Friday, May 2nd. Western Midstream Partners’s dividend payout ratio is currently 108.66%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on WES. Wall Street Zen raised shares of Western Midstream Partners from a “hold” rating to a “buy” rating in a research note on Saturday, March 8th. Mizuho cut their price target on Western Midstream Partners from $45.00 to $44.00 and set an “outperform” rating for the company in a research note on Tuesday, May 20th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $39.83.

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.