Western Midstream Partners, LP (NYSE:WES) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. cut its holdings in shares of Western Midstream Partners, LP (NYSE:WES) by 3.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 74,435 shares of the pipeline company’s stock after selling 2,635 shares during the quarter. Advisors Asset Management Inc.’s holdings in Western Midstream Partners were worth $2,848,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Farther Finance Advisors LLC increased its holdings in Western Midstream Partners by 287.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,437 shares of the pipeline company’s stock worth $55,000 after purchasing an additional 1,066 shares during the period. EverSource Wealth Advisors LLC purchased a new stake in shares of Western Midstream Partners during the second quarter worth approximately $74,000. Triad Wealth Partners LLC acquired a new stake in Western Midstream Partners in the second quarter valued at approximately $78,000. Cedar Mountain Advisors LLC lifted its stake in Western Midstream Partners by 16.1% in the third quarter. Cedar Mountain Advisors LLC now owns 2,158 shares of the pipeline company’s stock worth $83,000 after acquiring an additional 299 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. grew its holdings in Western Midstream Partners by 63.9% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 2,566 shares of the pipeline company’s stock worth $102,000 after acquiring an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 42.94% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on WES shares. Morgan Stanley lowered shares of Western Midstream Partners from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $42.00 to $40.00 in a report on Friday, October 25th. Bank of America started coverage on Western Midstream Partners in a research report on Thursday, October 17th. They set an “underperform” rating and a $37.00 price objective for the company. Royal Bank of Canada raised their target price on Western Midstream Partners from $38.00 to $41.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 16th. UBS Group dropped their price target on shares of Western Midstream Partners from $40.00 to $37.00 and set a “neutral” rating on the stock in a research note on Friday, November 15th. Finally, StockNews.com downgraded shares of Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 28th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $37.88.

Western Midstream Partners Trading Up 2.5 %

NYSE:WES opened at $38.87 on Friday. Western Midstream Partners, LP has a 12-month low of $26.81 and a 12-month high of $42.80. 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 stock’s 50 day simple moving average is $38.33 and its 200-day simple moving average is $38.65. The firm has a market cap of $14.79 billion, a P/E ratio of 9.92, a PEG ratio of 1.02 and a beta of 2.88.

Western Midstream Partners (NYSE:WES) last announced its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.09). The firm had revenue of $883.36 million for the quarter, compared to analysts’ expectations of $924.83 million. Western Midstream Partners had a return on equity of 46.02% and a net margin of 42.99%. The firm’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.70 EPS. Equities analysts anticipate that Western Midstream Partners, LP will post 4.09 EPS for the current year.

Western Midstream Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were given a dividend of $0.875 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.50 annualized dividend and a dividend yield of 9.00%. Western Midstream Partners’s payout ratio is currently 89.29%.

Western Midstream Partners 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.