Chickasaw Capital Management LLC Has $259.61 Million Position in Western Midstream Partners, LP (NYSE:WES)

Chickasaw Capital Management LLC grew its holdings in shares of Western Midstream Partners, LP (NYSE:WES - Free Report) by 1.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,755,387 shares of the pipeline company's stock after acquiring an additional 99,518 shares during the quarter. Western Midstream Partners accounts for approximately 10.5% of Chickasaw Capital Management LLC's investment portfolio, making the stock its 4th largest position. Chickasaw Capital Management LLC owned 1.78% of Western Midstream Partners worth $259,610,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in WES. Farther Finance Advisors LLC increased its holdings in Western Midstream Partners by 287.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,437 shares of the pipeline company's stock worth $55,000 after purchasing an additional 1,066 shares in the last quarter. EverSource Wealth Advisors LLC acquired a new stake in Western Midstream Partners during the 2nd quarter worth approximately $74,000. Cedar Mountain Advisors LLC grew its holdings in Western Midstream Partners by 16.1% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 2,158 shares of the pipeline company's stock worth $83,000 after acquiring an additional 299 shares during the last quarter. Millburn Ridgefield Corp acquired a new position in Western Midstream Partners in the 3rd quarter valued at approximately $86,000. Finally, Ashton Thomas Securities LLC bought a new position in shares of Western Midstream Partners during the third quarter valued at $119,000. 84.82% of the stock is currently owned by institutional investors and hedge funds.

Western Midstream Partners Stock Down 0.2 %

NYSE:WES traded down $0.09 on Tuesday, hitting $39.56. The stock had a trading volume of 709,032 shares, compared to its average volume of 1,026,433. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.05. Western Midstream Partners, LP has a 52 week low of $27.49 and a 52 week high of $42.80. The business's fifty day moving average is $38.63 and its 200 day moving average is $39.05. The company has a market cap of $15.05 billion, a PE ratio of 10.09, a P/E/G ratio of 1.08 and a beta of 2.90.

Western Midstream Partners (NYSE:WES - Get Free Report) 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). The business had revenue of $883.36 million for the quarter, compared to analyst estimates of $924.83 million. Western Midstream Partners had a return on equity of 46.02% and a net margin of 42.99%. The business's quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.70 EPS. On average, equities research analysts expect that Western Midstream Partners, LP will post 4.03 EPS for the current fiscal year.

Western Midstream Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were issued a dividend of $0.875 per share. This represents a $3.50 dividend on an annualized basis and a yield of 8.85%. The ex-dividend date of this dividend was Friday, November 1st. Western Midstream Partners's dividend payout ratio is currently 89.29%.

Analyst Ratings Changes

Several analysts recently commented on the company. Royal Bank of Canada reiterated a "sector perform" rating and issued a $41.00 target price on shares of Western Midstream Partners in a report on Monday, December 9th. 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. UBS Group lowered their target price on shares of Western Midstream Partners from $40.00 to $37.00 and set a "neutral" rating for the company in a research note on Friday, November 15th. Morgan Stanley cut shares of Western Midstream Partners from an "equal weight" rating to an "underweight" rating and cut their price target for the company from $42.00 to $40.00 in a research report on Friday, October 25th. Finally, US Capital Advisors raised Western Midstream Partners from a "hold" rating to a "moderate buy" rating in a research report on Tuesday, November 26th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $37.88.

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.