Western Midstream Partners (NYSE:WES) Reaches New 1-Year Low - Here's Why

Western Midstream Partners, LP (NYSE:WES - Get Free Report) shares reached a new 52-week low during trading on Wednesday . The stock traded as low as $33.60 and last traded at $35.91, with a volume of 1231830 shares changing hands. The stock had previously closed at $34.99.

Wall Street Analysts Forecast Growth

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

Western Midstream Partners Trading Up 2.6 %

The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.05. The company has a market capitalization of $14.34 billion, a price-to-earnings ratio of 9.59, a PEG ratio of 1.40 and a beta of 2.40. The firm has a 50-day moving average price of $39.78 and a 200-day moving average price of $39.44.

Western Midstream Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were given a $0.875 dividend. This represents a $3.50 annualized dividend and a yield of 9.31%. The ex-dividend date was Monday, February 3rd. Western Midstream Partners's dividend payout ratio (DPR) is presently 86.85%.

Remove Ads

Hedge Funds Weigh In On Western Midstream Partners

Several large investors have recently made changes to their positions in the business. Apollon Wealth Management LLC lifted its stake in Western Midstream Partners by 1.2% during the fourth quarter. Apollon Wealth Management LLC now owns 25,691 shares of the pipeline company's stock valued at $987,000 after purchasing an additional 295 shares during the last quarter. Integrated Wealth Concepts LLC increased its holdings in shares of Western Midstream Partners by 4.7% in the fourth quarter. Integrated Wealth Concepts LLC now owns 6,833 shares of the pipeline company's stock valued at $263,000 after buying an additional 306 shares in the last quarter. Virtus ETF Advisers LLC lifted its position in shares of Western Midstream Partners by 7.3% during the 4th quarter. Virtus ETF Advisers LLC now owns 4,564 shares of the pipeline company's stock valued at $175,000 after acquiring an additional 311 shares during the last quarter. RE Dickinson Investment Advisors LLC boosted its stake in shares of Western Midstream Partners by 21.8% during the 4th quarter. RE Dickinson Investment Advisors LLC now owns 2,168 shares of the pipeline company's stock worth $83,000 after acquiring an additional 388 shares in the last quarter. Finally, Princeton Global Asset Management LLC grew its holdings in shares of Western Midstream Partners by 133.3% in the 1st quarter. Princeton Global Asset Management LLC now owns 700 shares of the pipeline company's stock worth $29,000 after acquiring an additional 400 shares during the last quarter. Institutional investors own 84.82% of the company's stock.

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.