Western Midstream Partners, LP (NYSE:WES) Position Boosted by Van ECK Associates Corp

Van ECK Associates Corp lifted its position in Western Midstream Partners, LP (NYSE:WES) by 39.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 42,612 shares of the pipeline company’s stock after buying an additional 11,996 shares during the quarter. Van ECK Associates Corp’s holdings in Western Midstream Partners were worth $1,638,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Empowered Funds LLC bought a new stake in shares of Western Midstream Partners in the 4th quarter valued at approximately $53,000. Apollon Wealth Management LLC grew its stake in shares of Western Midstream Partners by 1.2% in the 4th 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 in the last quarter. Tectonic Advisors LLC grew its stake in shares of Western Midstream Partners by 2.4% in the 4th quarter. Tectonic Advisors LLC now owns 136,278 shares of the pipeline company’s stock valued at $5,237,000 after buying an additional 3,130 shares in the last quarter. Caprock Group LLC grew its stake in shares of Western Midstream Partners by 236.9% in the 4th quarter. Caprock Group LLC now owns 17,869 shares of the pipeline company’s stock valued at $687,000 after buying an additional 12,565 shares in the last quarter. Finally, Penbrook Management LLC bought a new stake in shares of Western Midstream Partners in the 4th quarter valued at approximately $246,000. Institutional investors own 84.82% of the company’s stock.

Western Midstream Partners Stock Performance

Shares of NYSE WES opened at $41.15 on Friday. The business has a fifty day simple moving average of $40.36 and a 200 day simple moving average of $39.16. 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 firm has a market capitalization of $15.66 billion, a price-to-earnings ratio of 10.50, a PEG ratio of 1.39 and a beta of 2.88. Western Midstream Partners, LP has a one year low of $31.60 and a one year high of $43.33.

Western Midstream Partners Announces Dividend

The business 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 dividend on an annualized basis and a yield of 8.51%. The ex-dividend date of this dividend was Monday, February 3rd. Western Midstream Partners’s dividend payout ratio (DPR) is 89.29%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Morgan Stanley lowered Western Midstream Partners from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $42.00 to $40.00 in a report 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. UBS Group reduced their target price on Western Midstream Partners from $40.00 to $37.00 and set a “neutral” rating for the company in a report on Friday, November 15th. US Capital Advisors upgraded Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 26th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $41.00 price target on shares of Western Midstream Partners in a report on Monday, December 9th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $37.88.

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.