Catalyst Capital Advisors LLC lessened its holdings in shares of Western Midstream Partners, LP (NYSE:WES – Free Report) by 20.4% during the 4th quarter, HoldingsChannel reports. The firm owned 369,992 shares of the pipeline company’s stock after selling 94,848 shares during the period. Catalyst Capital Advisors LLC’s holdings in Western Midstream Partners were worth $14,615,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Howard Financial Services LTD. raised its position in Western Midstream Partners by 2.3% in the 4th quarter. Howard Financial Services LTD. now owns 10,947 shares of the pipeline company’s stock valued at $432,000 after buying an additional 249 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in Western Midstream Partners by 0.9% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 30,784 shares of the pipeline company’s stock valued at $1,218,000 after buying an additional 284 shares during the last quarter. M&T Bank Corp raised its position in Western Midstream Partners by 3.5% in the 4th quarter. M&T Bank Corp now owns 8,540 shares of the pipeline company’s stock valued at $337,000 after buying an additional 288 shares during the last quarter. Mutual Advisors LLC raised its position in Western Midstream Partners by 1.9% in the 4th quarter. Mutual Advisors LLC now owns 15,453 shares of the pipeline company’s stock valued at $610,000 after buying an additional 292 shares during the last quarter. Finally, Albert D Mason Inc. raised its position in Western Midstream Partners by 0.9% in the 4th quarter. Albert D Mason Inc. now owns 33,912 shares of the pipeline company’s stock valued at $1,340,000 after buying an additional 297 shares during the last quarter. Institutional investors and hedge funds own 84.82% of the company’s stock.
Western Midstream Partners Stock Performance
Shares of NYSE WES opened at $42.80 on Friday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.34. Western Midstream Partners, LP has a 12 month low of $36.90 and a 12 month high of $48.01. The stock has a 50 day moving average of $42.63 and a 200-day moving average of $41.21. The company has a market capitalization of $16.85 billion, a P/E ratio of 13.99, a P/E/G ratio of 1.87 and a beta of 0.70.
Western Midstream Partners Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were paid a dividend of $0.93 per share. The ex-dividend date was Friday, May 1st. This represents a $3.72 annualized dividend and a dividend yield of 8.7%. This is an increase from Western Midstream Partners’s previous quarterly dividend of $0.91. Western Midstream Partners’s dividend payout ratio is presently 121.57%.
Insider Activity at Western Midstream Partners
In other Western Midstream Partners news, Director Robert G. Phillips bought 1,250 shares of Western Midstream Partners stock in a transaction dated Wednesday, March 11th. The stock was bought at an average cost of $40.19 per share, for a total transaction of $50,237.50. Following the purchase, the director owned 5,296 shares of the company’s stock, valued at $212,846.24. The trade was a 30.89% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.04% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on WES shares. UBS Group lifted their target price on Western Midstream Partners from $40.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, May 21st. Morgan Stanley lifted their target price on Western Midstream Partners from $41.00 to $51.00 and gave the company an “underweight” rating in a research report on Wednesday. Stifel Nicolaus set a $46.00 target price on Western Midstream Partners and gave the company a “buy” rating in a research report on Thursday, May 7th. Wells Fargo & Company lifted their target price on Western Midstream Partners from $41.00 to $43.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 13th. Finally, Citigroup lifted their target price on Western Midstream Partners from $39.00 to $42.00 and gave the company a “neutral” rating in a research report on Tuesday, May 12th. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $44.75.
Get Our Latest Research Report on WES
Western Midstream Partners Profile
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.
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Want to see what other hedge funds are holding WES? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Western Midstream Partners, LP (NYSE:WES – Free Report).
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