Duff & Phelps Investment Management Co. Has $27.11 Million Position in Western Midstream Partners, LP (NYSE:WES)

Duff & Phelps Investment Management Co. raised its stake in Western Midstream Partners, LP (NYSE:WES - Free Report) by 6,986.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 708,683 shares of the pipeline company's stock after purchasing an additional 698,683 shares during the quarter. Duff & Phelps Investment Management Co. owned about 0.19% of Western Midstream Partners worth $27,114,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of WES. Kayne Anderson Capital Advisors LP grew its stake in shares of Western Midstream Partners by 23.5% in the third quarter. Kayne Anderson Capital Advisors LP now owns 6,228,448 shares of the pipeline company's stock valued at $238,300,000 after buying an additional 1,184,597 shares in the last quarter. Fractal Investments LLC boosted its holdings in Western Midstream Partners by 5.4% in the 3rd quarter. Fractal Investments LLC now owns 1,465,706 shares of the pipeline company's stock worth $56,078,000 after acquiring an additional 75,145 shares during the period. Miller Howard Investments Inc. NY boosted its holdings in Western Midstream Partners by 2.8% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 1,458,530 shares of the pipeline company's stock worth $57,947,000 after acquiring an additional 39,827 shares during the period. Recurrent Investment Advisors LLC grew its position in Western Midstream Partners by 5.4% in the third quarter. Recurrent Investment Advisors LLC now owns 1,397,140 shares of the pipeline company's stock valued at $53,455,000 after acquiring an additional 71,210 shares in the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its stake in shares of Western Midstream Partners by 10.1% during the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,315,472 shares of the pipeline company's stock valued at $50,330,000 after purchasing an additional 120,202 shares during the period. Institutional investors and hedge funds own 84.82% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on WES shares. Bank of America began coverage on shares of Western Midstream Partners in a research note on Thursday, October 17th. They set an "underperform" rating and a $37.00 price target on the stock. Morgan Stanley cut Western Midstream Partners from an "equal weight" rating to an "underweight" rating and cut their price target for the stock from $42.00 to $40.00 in a research note on Friday, October 25th. UBS Group lowered their price objective on 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. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $41.00 target price on shares of Western Midstream Partners in a research report on Monday. Finally, StockNews.com cut Western Midstream Partners from a "strong-buy" rating to a "buy" rating in a research note on Monday, October 28th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $37.88.

Western Midstream Partners Stock Down 1.5 %

NYSE:WES traded down $0.59 during trading hours on Monday, hitting $39.65. 1,375,833 shares of the company's stock traded hands, compared to its average volume of 1,239,715. Western Midstream Partners, LP has a twelve month low of $26.81 and a twelve month high of $42.80. The firm has a market cap of $15.09 billion, a P/E ratio of 10.27, a P/E/G ratio of 1.09 and a beta of 2.90. 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 stock's fifty day moving average price is $38.48 and its two-hundred day moving average price is $38.84.

Western Midstream Partners (NYSE:WES - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.74 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.83 by ($0.09). Western Midstream Partners had a return on equity of 46.02% and a net margin of 42.99%. The company had revenue of $883.36 million during the quarter, compared to analysts' expectations of $924.83 million. During the same period last year, the company earned $0.70 earnings per share. Western Midstream Partners's revenue for the quarter was up 13.8% compared to the same quarter last year. On average, research analysts expect that Western Midstream Partners, LP will post 4.05 earnings per share for the current fiscal year.

Western Midstream Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were paid a $0.875 dividend. This represents a $3.50 dividend on an annualized basis and a dividend yield of 8.83%. The ex-dividend date was Friday, November 1st. Western Midstream Partners's dividend payout ratio (DPR) is presently 89.29%.

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.