Western Midstream Partners, LP (NYSE:WES) Holdings Cut by Wells Fargo & Company MN

Wells Fargo & Company MN lowered its position in Western Midstream Partners, LP (NYSE:WES - Free Report) by 5.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 715,044 shares of the pipeline company's stock after selling 41,219 shares during the quarter. Wells Fargo & Company MN owned about 0.19% of Western Midstream Partners worth $27,479,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Summit Financial LLC boosted its position in Western Midstream Partners by 2.6% during the 4th quarter. Summit Financial LLC now owns 93,977 shares of the pipeline company's stock worth $3,612,000 after acquiring an additional 2,409 shares during the period. Wambolt & Associates LLC bought a new position in Western Midstream Partners in the 4th quarter valued at about $853,000. Aire Advisors LLC acquired a new position in Western Midstream Partners during the 4th quarter valued at about $467,000. LPL Financial LLC raised its position in shares of Western Midstream Partners by 16.8% during the 4th quarter. LPL Financial LLC now owns 227,107 shares of the pipeline company's stock worth $8,728,000 after buying an additional 32,628 shares in the last quarter. Finally, Samalin Investment Counsel LLC acquired a new stake in shares of Western Midstream Partners in the 4th quarter worth approximately $1,085,000. 84.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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Western Midstream Partners Trading Up 2.4 %

Shares of WES stock traded up $0.90 during trading hours on Tuesday, reaching $38.53. 996,296 shares of the stock traded hands, compared to its average volume of 1,246,277. The business has a fifty day moving average price of $39.74 and a 200 day moving average price of $39.43. Western Midstream Partners, LP has a 1-year low of $33.60 and a 1-year high of $43.33. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.05. The firm has a market capitalization of $14.69 billion, a PE ratio of 9.83, a PEG ratio of 1.40 and a beta of 2.40.

Western Midstream Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were given a $0.875 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $3.50 annualized dividend and a dividend yield of 9.08%. Western Midstream Partners's dividend payout ratio (DPR) is presently 86.85%.

About Western Midstream Partners

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.