Western Midstream Partners, LP (NYSE:WES) Shares Sold by CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lowered its holdings in shares of Western Midstream Partners, LP (NYSE:WES - Free Report) by 2.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,280,597 shares of the pipeline company's stock after selling 34,875 shares during the period. Western Midstream Partners accounts for 3.2% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's investment portfolio, making the stock its 13th largest holding. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned 0.34% of Western Midstream Partners worth $49,213,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Stifel Financial Corp increased its stake in Western Midstream Partners by 42.1% in the 3rd quarter. Stifel Financial Corp now owns 108,367 shares of the pipeline company's stock valued at $4,146,000 after buying an additional 32,119 shares during the period. BNP Paribas Financial Markets increased its stake in shares of Western Midstream Partners by 6.5% during the third quarter. BNP Paribas Financial Markets now owns 996,018 shares of the pipeline company's stock worth $38,108,000 after acquiring an additional 60,603 shares during the period. MAI Capital Management raised its holdings in Western Midstream Partners by 293.1% during the third quarter. MAI Capital Management now owns 29,878 shares of the pipeline company's stock worth $1,143,000 after purchasing an additional 22,277 shares in the last quarter. Citigroup Inc. lifted its position in Western Midstream Partners by 322.1% in the third quarter. Citigroup Inc. now owns 406,587 shares of the pipeline company's stock valued at $15,556,000 after purchasing an additional 310,260 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in Western Midstream Partners by 60.1% in the 3rd 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. 84.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Royal Bank of Canada reissued a "sector perform" rating and set a $41.00 target price on shares of Western Midstream Partners in a research note on Monday, December 9th. Morgan Stanley lowered shares of Western Midstream Partners from an "equal weight" rating to an "underweight" rating and decreased their target price for the stock from $42.00 to $40.00 in a research report on Friday, October 25th. US Capital Advisors upgraded shares of Western Midstream Partners from a "hold" rating to a "moderate buy" rating in a report on Tuesday, November 26th. Bank of America started coverage on shares of Western Midstream Partners in a research note on Thursday, October 17th. They issued an "underperform" rating and a $37.00 price objective for the company. Finally, StockNews.com cut shares of Western Midstream Partners from a "strong-buy" rating to a "buy" rating in a report on Monday, October 28th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $37.88.

Western Midstream Partners Price Performance

Shares of WES traded down $0.04 during mid-day trading on Friday, reaching $42.39. 807,183 shares of the company's stock were exchanged, compared to its average volume of 879,214. 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 52-week low of $27.84 and a 52-week high of $43.33. The company has a market cap of $16.13 billion, a price-to-earnings ratio of 10.81, a PEG ratio of 1.41 and a beta of 2.90. The company has a 50-day simple moving average of $39.67 and a two-hundred day simple moving average of $39.15.

Western Midstream Partners (NYSE:WES - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.74 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts' expectations of $924.83 million. During the same period in the previous year, the business posted $0.70 EPS. The business's quarterly revenue was up 13.8% on a year-over-year basis. On average, sell-side analysts predict that Western Midstream Partners, LP will post 4.03 EPS for the current fiscal year.

Western Midstream Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be paid a $0.875 dividend. This represents a $3.50 annualized dividend and a yield of 8.26%. The ex-dividend date is Monday, February 3rd. Western Midstream Partners's payout ratio is 89.29%.

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.