First Trust Advisors LP Has $23.77 Million Stake in Western Midstream Partners, LP (NYSE:WES)

First Trust Advisors LP raised its holdings in Western Midstream Partners, LP (NYSE:WES - Free Report) by 18.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 618,538 shares of the pipeline company's stock after acquiring an additional 96,781 shares during the quarter. First Trust Advisors LP owned about 0.16% of Western Midstream Partners worth $23,770,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of WES. Virtu Financial LLC bought a new stake in Western Midstream Partners during the third quarter valued at about $409,000. Wilmington Savings Fund Society FSB bought a new stake in Western Midstream Partners during the third quarter valued at about $166,000. Tidal Investments LLC boosted its holdings in Western Midstream Partners by 26.4% during the third quarter. Tidal Investments LLC now owns 13,796 shares of the pipeline company's stock valued at $528,000 after acquiring an additional 2,879 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Western Midstream Partners by 60.1% in the third quarter. JPMorgan Chase & Co. now owns 1,785,105 shares of the pipeline company's stock valued at $68,298,000 after buying an additional 670,440 shares during the period. Finally, Chickasaw Capital Management LLC lifted its stake in shares of Western Midstream Partners by 1.5% in 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. Institutional investors own 84.82% of the company's stock.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Western Midstream Partners from a "hold" rating to a "buy" rating in a research note on Saturday, March 8th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $38.43.

Western Midstream Partners Price Performance

WES traded down $0.67 during midday trading on Tuesday, reaching $38.28. 624,060 shares of the company's stock were exchanged, compared to its average volume of 1,249,770. The firm has a market capitalization of $14.60 billion, a price-to-earnings ratio of 9.77, a price-to-earnings-growth ratio of 1.40 and a beta of 2.40. 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 one year low of $33.60 and a one year high of $43.33. The business has a 50-day simple moving average of $39.30 and a two-hundred day simple moving average of $39.37.

Western Midstream Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Friday, May 2nd will be paid a dividend of $0.91 per share. This is a boost from Western Midstream Partners's previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Friday, May 2nd. This represents a $3.64 dividend on an annualized basis and a yield of 9.51%. Western Midstream Partners's dividend payout ratio (DPR) is currently 90.32%.

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.