Miller Howard Investments Inc. NY reduced its stake in shares of Western Midstream Partners, LP (NYSE:WES - Free Report) by 8.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,567,197 shares of the pipeline company's stock after selling 140,484 shares during the quarter. Western Midstream Partners comprises 2.0% of Miller Howard Investments Inc. NY's portfolio, making the stock its 18th biggest position. Miller Howard Investments Inc. NY owned 0.41% of Western Midstream Partners worth $60,227,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of WES. Kayne Anderson Capital Advisors LP grew its stake in shares of Western Midstream Partners by 23.5% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 6,228,448 shares of the pipeline company's stock worth $238,300,000 after acquiring an additional 1,184,597 shares in the last quarter. Duff & Phelps Investment Management Co. boosted its holdings in Western Midstream Partners by 6,986.8% during the third quarter. Duff & Phelps Investment Management Co. now owns 708,683 shares of the pipeline company's stock worth $27,114,000 after purchasing an additional 698,683 shares during the last quarter. JPMorgan Chase & Co. grew its position in 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 purchasing an additional 670,440 shares in the last quarter. ING Groep NV increased its stake in Western Midstream Partners by 81.0% in the 3rd quarter. ING Groep NV now owns 746,587 shares of the pipeline company's stock valued at $28,564,000 after buying an additional 334,187 shares during the last quarter. Finally, Citigroup Inc. lifted its position in Western Midstream Partners by 322.1% during the 3rd quarter. Citigroup Inc. now owns 406,587 shares of the pipeline company's stock worth $15,556,000 after buying an additional 310,260 shares in the last quarter. 84.82% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
WES has been the topic of a number of recent research reports. 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, December 9th. UBS Group lowered their price target on Western Midstream Partners from $40.00 to $37.00 and set a "neutral" rating on the stock in a research report on Friday, November 15th. Morgan Stanley cut shares of Western Midstream Partners from an "equal weight" rating to an "underweight" rating and decreased their target price for the company from $42.00 to $40.00 in a research note on Friday, October 25th. StockNews.com lowered shares of Western Midstream Partners from a "strong-buy" rating to a "buy" rating in a research report on Monday, October 28th. Finally, US Capital Advisors raised shares of Western Midstream Partners from a "hold" rating to a "moderate buy" rating in a research report on Tuesday, November 26th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, Western Midstream Partners presently has a consensus rating of "Hold" and a consensus target price of $37.88.
Read Our Latest Research Report on WES
Western Midstream Partners Stock Performance
Shares of WES stock traded down $0.11 during midday trading on Wednesday, hitting $39.95. 678,071 shares of the company were exchanged, compared to its average volume of 1,318,449. Western Midstream Partners, LP has a 52 week low of $27.89 and a 52 week high of $43.33. The firm has a market capitalization of $15.20 billion, a P/E ratio of 10.19, a PEG ratio of 1.36 and a beta of 2.88. The firm's 50 day moving average price is $40.17 and its two-hundred day moving average price is $39.09. 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 Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be given a $0.875 dividend. This represents a $3.50 annualized dividend and a dividend yield of 8.76%. The ex-dividend date is Monday, February 3rd. Western Midstream Partners's payout ratio is 89.29%.
About Western Midstream Partners
(
Free Report)
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.
Featured Articles
Before you consider Western Midstream Partners, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Western Midstream Partners wasn't on the list.
While Western Midstream Partners currently has a "Reduce" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
