Exchange Traded Concepts LLC Decreases Stock Holdings in Western Midstream Partners, LP (NYSE:WES)

Exchange Traded Concepts LLC reduced its position in Western Midstream Partners, LP (NYSE:WES - Free Report) by 7.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 215,060 shares of the pipeline company's stock after selling 16,812 shares during the quarter. Exchange Traded Concepts LLC owned approximately 0.06% of Western Midstream Partners worth $8,265,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Chickasaw Capital Management LLC increased its holdings in Western Midstream Partners by 1.5% in the 4th quarter. Chickasaw Capital Management LLC now owns 6,755,387 shares of the pipeline company's stock worth $259,610,000 after acquiring an additional 99,518 shares during the last quarter. Kayne Anderson Capital Advisors LP increased its stake in shares of Western Midstream Partners by 23.5% in the third quarter. Kayne Anderson Capital Advisors LP now owns 6,228,448 shares of the pipeline company's stock worth $238,300,000 after purchasing an additional 1,184,597 shares in the last quarter. JPMorgan Chase & Co. raised its position 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 purchasing an additional 670,440 shares during the period. Fractal Investments LLC raised its position in shares of Western Midstream Partners by 5.4% in the third quarter. Fractal Investments LLC now owns 1,465,706 shares of the pipeline company's stock valued at $56,078,000 after purchasing an additional 75,145 shares during the period. Finally, Recurrent Investment Advisors LLC lifted its stake in shares of Western Midstream Partners by 5.4% during the 3rd quarter. Recurrent Investment Advisors LLC now owns 1,397,140 shares of the pipeline company's stock valued at $53,455,000 after buying an additional 71,210 shares in the last quarter. 84.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Morgan Stanley cut shares of Western Midstream Partners from an "equal weight" rating to an "underweight" rating and lowered their target price for the company from $42.00 to $40.00 in a report on Friday, October 25th. UBS Group dropped their price objective on Western Midstream Partners from $40.00 to $37.00 and set a "neutral" rating on the stock in a report on Friday, November 15th. US Capital Advisors upgraded Western Midstream Partners from a "hold" rating to a "moderate buy" rating in a research note on Tuesday, November 26th. Bank of America initiated coverage on Western Midstream Partners in a research report on Thursday, October 17th. They set an "underperform" rating and a $37.00 price target on the stock. Finally, 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. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $37.88.

Western Midstream Partners Price Performance

Western Midstream Partners stock traded down $0.04 during mid-day trading on Friday, hitting $42.39. 807,183 shares of the company traded hands, compared to its average volume of 879,214. 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, LP has a one year low of $27.84 and a one year high of $43.33. The stock has a market cap of $16.13 billion, a price-to-earnings ratio of 10.81, a price-to-earnings-growth ratio of 1.41 and a beta of 2.90. The stock has a fifty day moving average price of $39.67 and a 200-day moving average price of $39.15.

Western Midstream Partners (NYSE:WES - Get Free Report) last posted 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). 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 the consensus estimate of $924.83 million. During the same period in the prior year, the firm posted $0.70 earnings per share. The business's revenue was up 13.8% on a year-over-year basis. On average, equities analysts predict that Western Midstream Partners, LP will post 4.03 earnings per share for the current fiscal year.

Western Midstream Partners Dividend Announcement

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