Dividend Assets Capital LLC Acquires 5,352 Shares of Western Midstream Partners, LP (NYSE:WES)

Dividend Assets Capital LLC grew its holdings in shares of Western Midstream Partners, LP (NYSE:WES) by 8.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,652 shares of the pipeline company’s stock after buying an additional 5,352 shares during the quarter. Dividend Assets Capital LLC’s holdings in Western Midstream Partners were worth $2,523,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Apollon Wealth Management LLC boosted its stake in Western Midstream Partners by 1.2% during the 4th 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. Concurrent Investment Advisors LLC grew its position in Western Midstream Partners by 6.2% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 6,053 shares of the pipeline company’s stock worth $232,000 after purchasing an additional 352 shares in the last quarter. Private Advisor Group LLC boosted its stake in shares of Western Midstream Partners by 9.6% in the 3rd quarter. Private Advisor Group LLC now owns 6,066 shares of the pipeline company’s stock worth $232,000 after buying an additional 531 shares during the last quarter. PFG Investments LLC grew its holdings in shares of Western Midstream Partners by 1.6% in the fourth quarter. PFG Investments LLC now owns 33,424 shares of the pipeline company’s stock valued at $1,284,000 after acquiring an additional 540 shares in the last quarter. Finally, Mutual Advisors LLC increased its position in shares of Western Midstream Partners by 10.5% during the fourth quarter. Mutual Advisors LLC now owns 6,060 shares of the pipeline company’s stock valued at $247,000 after acquiring an additional 577 shares during the last quarter. 84.82% of the stock is owned by institutional investors.

Western Midstream Partners Stock Performance

Shares of WES opened at $41.15 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.05. Western Midstream Partners, LP has a 12-month low of $31.60 and a 12-month high of $43.33. The company has a market cap of $15.66 billion, a PE ratio of 10.50, a price-to-earnings-growth ratio of 1.40 and a beta of 2.88. The stock has a 50-day moving average price of $40.36 and a 200-day moving average price of $39.16.

Western Midstream Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were given a $0.875 dividend. The ex-dividend date was Monday, February 3rd. This represents a $3.50 annualized dividend and a yield of 8.51%. Western Midstream Partners’s dividend payout ratio (DPR) is presently 89.29%.

Analyst Ratings Changes

WES has been the topic of several research analyst reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $41.00 price objective on shares of Western Midstream Partners in a research report on Monday, December 9th. 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. Morgan Stanley cut shares of Western Midstream Partners from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $42.00 to $40.00 in a research note on Friday, October 25th. StockNews.com lowered Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, October 28th. Finally, UBS Group reduced their target price on shares of Western Midstream Partners from $40.00 to $37.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $37.88.

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.