Advisors Asset Management Inc. Buys 30,449 Shares of Western Midstream Partners, LP (NYSE:WES)

Advisors Asset Management Inc. lifted its holdings in shares of Western Midstream Partners, LP (NYSE:WES) by 40.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 104,884 shares of the pipeline company’s stock after purchasing an additional 30,449 shares during the period. Advisors Asset Management Inc.’s holdings in Western Midstream Partners were worth $4,031,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of WES. Apollon Wealth Management LLC lifted its holdings in Western Midstream Partners by 1.2% in the fourth quarter. Apollon Wealth Management LLC now owns 25,691 shares of the pipeline company’s stock valued at $987,000 after buying an additional 295 shares during the period. Farther Finance Advisors LLC lifted its holdings in Western Midstream Partners by 34.7% in the fourth quarter. Farther Finance Advisors LLC now owns 1,935 shares of the pipeline company’s stock valued at $74,000 after buying an additional 498 shares during the period. PFG Investments LLC lifted its holdings in 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 buying an additional 540 shares during the period. Mutual Advisors LLC lifted its holdings in Western Midstream Partners by 10.5% in the fourth quarter. Mutual Advisors LLC now owns 6,060 shares of the pipeline company’s stock valued at $247,000 after buying an additional 577 shares during the period. Finally, Independent Advisor Alliance raised its holdings in shares of Western Midstream Partners by 3.7% during the third quarter. Independent Advisor Alliance now owns 22,647 shares of the pipeline company’s stock valued at $866,000 after purchasing an additional 800 shares during the period. Institutional investors and hedge funds own 84.82% of the company’s stock.

Wall Street Analyst Weigh In

WES has been the topic of a number of research analyst reports. Royal Bank of Canada reissued a “sector perform” rating and set a $41.00 price objective on shares of Western Midstream Partners in a research report on Monday, December 9th. StockNews.com raised shares of Western Midstream Partners from a “hold” rating to a “buy” rating in a research report on Saturday, March 8th. Finally, US Capital Advisors raised shares of Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 26th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $38.43.

Western Midstream Partners Price Performance

Shares of NYSE WES opened at $41.85 on Friday. Western Midstream Partners, LP has a fifty-two week low of $33.64 and a fifty-two week high of $43.33. The stock has a market cap of $15.96 billion, a price-to-earnings ratio of 10.68, a PEG ratio of 1.40 and a beta of 2.88. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.11 and a current ratio of 1.11. The firm’s 50-day simple moving average is $40.77 and its 200 day simple moving average is $39.41.

Western Midstream Partners Dividend Announcement

The firm also recently declared 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 8.36%. Western Midstream Partners’s payout ratio is 86.85%.

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.