Clearbridge Investments LLC Reduces Holdings in Western Midstream Partners, LP (NYSE:WES)

Clearbridge Investments LLC reduced its position in shares of Western Midstream Partners, LP (NYSE:WES - Free Report) by 6.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,324,043 shares of the pipeline company's stock after selling 163,692 shares during the period. Clearbridge Investments LLC owned about 0.61% of Western Midstream Partners worth $89,313,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Harbour Investments Inc. boosted its holdings in Western Midstream Partners by 555.6% during the 4th quarter. Harbour Investments Inc. now owns 1,180 shares of the pipeline company's stock valued at $45,000 after acquiring an additional 1,000 shares during the period. Global Retirement Partners LLC acquired a new position in shares of Western Midstream Partners in the fourth quarter valued at approximately $51,000. Empowered Funds LLC acquired a new position in shares of Western Midstream Partners in the fourth quarter valued at approximately $53,000. Kieckhefer Group LLC purchased a new stake in Western Midstream Partners during the 4th quarter worth approximately $58,000. Finally, Farther Finance Advisors LLC lifted its holdings in Western Midstream Partners by 34.7% during the 4th quarter. Farther Finance Advisors LLC now owns 1,935 shares of the pipeline company's stock worth $74,000 after buying an additional 498 shares in the last quarter. 84.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WES has been the subject of several research reports. Royal Bank of Canada restated a "sector perform" rating and issued a $41.00 price target on shares of Western Midstream Partners in a research note on Monday, December 9th. StockNews.com raised Western Midstream Partners from a "hold" rating to a "buy" rating in a research note on Saturday, March 8th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $38.43.

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Western Midstream Partners Stock Down 7.8 %

Shares of NYSE:WES traded down $3.14 on Friday, hitting $37.06. 1,695,274 shares of the company's stock were exchanged, compared to its average volume of 1,225,330. Western Midstream Partners, LP has a 1-year low of $33.64 and a 1-year high of $43.33. The company has a market capitalization of $14.13 billion, a PE ratio of 9.43, a P/E/G ratio of 1.40 and a beta of 2.40. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.11 and a current ratio of 1.11. The firm's 50-day moving average is $40.74 and its 200 day moving average is $39.61.

Western Midstream Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were paid a $0.875 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $3.50 annualized dividend and a yield of 9.44%. Western Midstream Partners's dividend payout ratio is currently 86.85%.

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.