Aire Advisors LLC Acquires New Stake in Western Midstream Partners, LP (NYSE:WES)

Aire Advisors LLC bought a new stake in shares of Western Midstream Partners, LP (NYSE:WES - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 12,145 shares of the pipeline company's stock, valued at approximately $467,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Chickasaw Capital Management LLC lifted its position in Western Midstream Partners by 1.5% during the fourth quarter. Chickasaw Capital Management LLC now owns 6,755,387 shares of the pipeline company's stock valued at $259,610,000 after buying an additional 99,518 shares during the period. JPMorgan Chase & Co. lifted its position in Western Midstream Partners by 60.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,785,105 shares of the pipeline company's stock valued at $68,298,000 after acquiring an additional 670,440 shares during the period. Recurrent Investment Advisors LLC boosted its stake in Western Midstream Partners by 5.4% during the third quarter. Recurrent Investment Advisors LLC now owns 1,397,140 shares of the pipeline company's stock worth $53,455,000 after acquiring an additional 71,210 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in Western Midstream Partners by 6.5% in the third quarter. BNP Paribas Financial Markets now owns 996,018 shares of the pipeline company's stock worth $38,108,000 after purchasing an additional 60,603 shares during the period. Finally, Duff & Phelps Investment Management Co. increased its stake in shares of Western Midstream Partners by 6,986.8% during the third quarter. Duff & Phelps Investment Management Co. now owns 708,683 shares of the pipeline company's stock valued at $27,114,000 after purchasing an additional 698,683 shares in the last quarter. Hedge funds and other institutional investors own 84.82% of the company's stock.

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Western Midstream Partners Stock Up 1.1 %

Shares of WES stock traded up $0.44 during mid-day trading on Friday, hitting $41.49. The company's stock had a trading volume of 1,166,854 shares, compared to its average volume of 1,226,414. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.11 and a current ratio of 1.11. Western Midstream Partners, LP has a 52-week low of $33.64 and a 52-week high of $43.33. The stock has a market cap of $15.82 billion, a price-to-earnings ratio of 10.58, a PEG ratio of 1.40 and a beta of 2.88. The business has a 50-day moving average price of $40.84 and a 200 day moving average price of $39.56.

Western Midstream Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were paid a dividend of $0.875 per share. This represents a $3.50 annualized dividend and a yield of 8.44%. The ex-dividend date was Monday, February 3rd. Western Midstream Partners's dividend payout ratio is currently 86.85%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on WES. StockNews.com raised Western Midstream Partners from a "hold" rating to a "buy" rating in a research report on Saturday, March 8th. Royal Bank of Canada reissued a "sector perform" rating and issued a $41.00 target price on shares of Western Midstream Partners in a research note on Monday, December 9th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $38.43.

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.