Jennison Associates LLC Has $66.81 Million Stock Holdings in Western Midstream Partners, LP (NYSE:WES)

Jennison Associates LLC lessened its stake in shares of Western Midstream Partners, LP (NYSE:WES - Free Report) by 10.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,746,247 shares of the pipeline company's stock after selling 204,365 shares during the period. Jennison Associates LLC owned 0.46% of Western Midstream Partners worth $66,811,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WES. Kayne Anderson Capital Advisors LP grew its holdings in Western Midstream Partners by 23.5% during 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 purchasing an additional 1,184,597 shares during the last quarter. ING Groep NV grew its stake in shares of Western Midstream Partners by 81.0% in the third quarter. ING Groep NV now owns 746,587 shares of the pipeline company's stock worth $28,564,000 after acquiring an additional 334,187 shares during the last quarter. Blackstone Inc. grew its stake in shares of Western Midstream Partners by 2.0% in the first quarter. Blackstone Inc. now owns 12,980,724 shares of the pipeline company's stock worth $461,465,000 after acquiring an additional 259,928 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its stake in shares of Western Midstream Partners by 10.1% in the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,315,472 shares of the pipeline company's stock worth $50,330,000 after acquiring an additional 120,202 shares during the last quarter. Finally, BROOKFIELD Corp ON grew its stake in shares of Western Midstream Partners by 2.7% in the first quarter. BROOKFIELD Corp ON now owns 2,953,510 shares of the pipeline company's stock worth $104,997,000 after acquiring an additional 77,942 shares during the last quarter. Institutional investors and hedge funds own 42.94% of the company's stock.

Western Midstream Partners Price Performance

Shares of NYSE WES traded up $0.44 during midday trading on Thursday, reaching $37.88. 1,044,031 shares of the company traded hands, compared to its average volume of 1,245,102. The firm has a market cap of $14.42 billion, a PE ratio of 9.68, a PEG ratio of 0.72 and a beta of 2.88. The stock's 50-day simple moving average is $38.36 and its 200-day simple moving average is $38.63. Western Midstream Partners, LP has a 12 month low of $26.81 and a 12 month high of $42.80. 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 (NYSE:WES - Get Free Report) last issued its quarterly earnings data 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). The company had revenue of $883.36 million for the quarter, compared to the consensus estimate of $924.83 million. Western Midstream Partners had a net margin of 42.99% and a return on equity of 46.02%. The firm's revenue was up 13.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.70 earnings per share. As a group, equities analysts anticipate that Western Midstream Partners, LP will post 4.11 earnings per share for the current fiscal year.

Western Midstream Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were issued a $0.875 dividend. The ex-dividend date was Friday, November 1st. This represents a $3.50 dividend on an annualized basis and a dividend yield of 9.24%. Western Midstream Partners's dividend payout ratio is 89.29%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on WES. StockNews.com downgraded shares of Western Midstream Partners from a "strong-buy" rating to a "buy" rating in a research note on Monday, October 28th. Stifel Nicolaus raised their price objective on shares of Western Midstream Partners from $39.00 to $40.00 and gave the stock a "hold" rating in a research note on Friday, August 9th. UBS Group reduced their target price on Western Midstream Partners from $40.00 to $37.00 and set a "neutral" rating for the company in a research report on Friday, November 15th. Royal Bank of Canada raised their target price on Western Midstream Partners from $38.00 to $41.00 and gave the stock a "sector perform" rating in a research report on Wednesday, October 16th. Finally, Bank of America began coverage on Western Midstream Partners in a research report on Thursday, October 17th. They issued an "underperform" rating and a $37.00 target price for the company. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $37.88.

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.