Silvercrest Asset Management Group LLC Decreases Position in Western Midstream Partners, LP (NYSE:WES)

Silvercrest Asset Management Group LLC cut its position in Western Midstream Partners, LP (NYSE:WES) by 3.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 35,177 shares of the pipeline company’s stock after selling 1,098 shares during the quarter. Silvercrest Asset Management Group LLC’s holdings in Western Midstream Partners were worth $1,352,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Invesco Ltd. raised its holdings in Western Midstream Partners by 6.6% in the fourth quarter. Invesco Ltd. now owns 22,809,161 shares of the pipeline company’s stock worth $876,556,000 after buying an additional 1,406,362 shares during the last quarter. Tortoise Capital Advisors L.L.C. raised its holdings in Western Midstream Partners by 2.0% in the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 8,064,089 shares of the pipeline company’s stock worth $309,903,000 after buying an additional 159,016 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Western Midstream Partners by 23.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,273,186 shares of the pipeline company’s stock worth $279,509,000 after buying an additional 1,366,341 shares during the last quarter. Eagle Global Advisors LLC raised its holdings in Western Midstream Partners by 23.2% in the fourth quarter. Eagle Global Advisors LLC now owns 2,434,080 shares of the pipeline company’s stock worth $93,542,000 after buying an additional 458,111 shares during the last quarter. Finally, BROOKFIELD Corp ON raised its holdings in Western Midstream Partners by 1.0% in the fourth quarter. BROOKFIELD Corp ON now owns 1,683,790 shares of the pipeline company’s stock worth $64,708,000 after buying an additional 15,978 shares during the last quarter. 84.82% of the stock is owned by hedge funds and other institutional investors.

Western Midstream Partners Stock Down 0.4%

WES opened at $39.11 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.05. The firm has a 50 day moving average price of $38.64 and a 200-day moving average price of $39.32. Western Midstream Partners, LP has a twelve month low of $33.60 and a twelve month high of $43.33. The stock has a market capitalization of $14.91 billion, a price-to-earnings ratio of 9.98, a PEG ratio of 1.40 and a beta of 1.12.

Western Midstream Partners (NYSE:WES) last released its quarterly earnings data on Wednesday, May 7th. The pipeline company reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.04). Western Midstream Partners had a net margin of 42.99% and a return on equity of 46.02%. The company had revenue of $917.12 million for the quarter, compared to analysts’ expectations of $926.55 million. During the same period in the previous year, the firm earned $1.47 earnings per share. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. Equities research analysts forecast that Western Midstream Partners, LP will post 4.02 earnings per share for the current year.

Western Midstream Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Friday, May 2nd were issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 9.31%. This is a boost from Western Midstream Partners’s previous quarterly dividend of $0.88. The ex-dividend date was Friday, May 2nd. Western Midstream Partners’s payout ratio is presently 108.66%.

Analyst Ratings Changes

Several brokerages have issued reports on WES. Mizuho decreased their target price on shares of Western Midstream Partners from $45.00 to $44.00 and set an “outperform” rating for the company in a report on Tuesday. StockNews.com raised shares of Western Midstream Partners from a “hold” rating to a “buy” rating in a report on Saturday, March 8th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $39.14.

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.