Recurrent Investment Advisors LLC Buys 640 Shares of Western Midstream Partners, LP (NYSE:WES)

Recurrent Investment Advisors LLC raised its position in shares of Western Midstream Partners, LP (NYSE:WES) by 0.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,397,780 shares of the pipeline company’s stock after acquiring an additional 640 shares during the period. Western Midstream Partners makes up approximately 4.9% of Recurrent Investment Advisors LLC’s investment portfolio, making the stock its 9th largest position. Recurrent Investment Advisors LLC owned about 0.37% of Western Midstream Partners worth $53,717,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Invesco Ltd. lifted its holdings in shares of Western Midstream Partners by 6.6% during the fourth quarter. Invesco Ltd. now owns 22,809,161 shares of the pipeline company’s stock worth $876,556,000 after buying an additional 1,406,362 shares in the last quarter. Tortoise Capital Advisors L.L.C. lifted its position in shares of Western Midstream Partners by 2.0% during the 4th quarter. Tortoise Capital Advisors L.L.C. now owns 8,064,089 shares of the pipeline company’s stock valued at $309,903,000 after acquiring an additional 159,016 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Western Midstream Partners by 23.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,273,186 shares of the pipeline company’s stock worth $279,509,000 after purchasing an additional 1,366,341 shares during the period. Eagle Global Advisors LLC raised its stake in Western Midstream Partners by 23.2% in the fourth quarter. Eagle Global Advisors LLC now owns 2,434,080 shares of the pipeline company’s stock valued at $93,542,000 after purchasing an additional 458,111 shares in the last quarter. Finally, BROOKFIELD Corp ON raised its stake in Western Midstream Partners by 1.0% in the fourth quarter. BROOKFIELD Corp ON now owns 1,683,790 shares of the pipeline company’s stock valued at $64,708,000 after purchasing an additional 15,978 shares in the last quarter. Institutional investors and hedge funds own 84.82% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com raised Western Midstream Partners from a “hold” rating to a “buy” rating in a report on Saturday, March 8th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Western Midstream Partners has a consensus rating of “Hold” and an average price target of $38.33.

Western Midstream Partners Price Performance

Shares of WES opened at $39.80 on Thursday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.05. The stock has a market cap of $15.18 billion, a PE ratio of 10.15, a PEG ratio of 1.40 and a beta of 1.12. Western Midstream Partners, LP has a 12-month low of $33.60 and a 12-month high of $43.33. The business has a 50-day simple moving average of $38.71 and a two-hundred day simple moving average of $39.25.

Western Midstream Partners (NYSE:WES) last issued its quarterly earnings results on Wednesday, May 7th. The pipeline company reported $0.79 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.04). The business had revenue of $917.12 million for the quarter, compared to analyst estimates 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 revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.47 EPS. Analysts anticipate that Western Midstream Partners, LP will post 4.02 earnings per share for the current fiscal year.

Western Midstream Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Friday, May 2nd will be given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 9.15%. This is an increase from Western Midstream Partners’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Friday, May 2nd. Western Midstream Partners’s dividend payout ratio (DPR) is 108.66%.

Western Midstream Partners 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.