Western Midstream Partners, LP (NYSE:WES) Stock Position Increased by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. lifted its position in Western Midstream Partners, LP (NYSE:WES) by 5.0% during the first quarter, Holdings Channel reports. The institutional investor owned 8,559 shares of the pipeline company’s stock after buying an additional 411 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Western Midstream Partners were worth $351,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of WES. Alps Advisors Inc. raised its position in shares of Western Midstream Partners by 7.6% during the first quarter. Alps Advisors Inc. now owns 33,824,487 shares of the pipeline company’s stock worth $1,385,451,000 after purchasing an additional 2,400,891 shares during the period. Tortoise Capital Advisors L.L.C. raised its position in shares of Western Midstream Partners by 2.0% during 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 purchasing an additional 159,016 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Western Midstream Partners by 23.1% during 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 purchasing an additional 1,366,341 shares during the period. Eagle Global Advisors LLC raised its position in shares of Western Midstream Partners by 23.2% during the fourth quarter. Eagle Global Advisors LLC now owns 2,434,080 shares of the pipeline company’s stock worth $93,542,000 after purchasing an additional 458,111 shares during the period. Finally, BROOKFIELD Corp ON raised its position in shares of Western Midstream Partners by 1.0% during the fourth quarter. BROOKFIELD Corp ON now owns 1,683,790 shares of the pipeline company’s stock worth $64,708,000 after purchasing an additional 15,978 shares during the period. Institutional investors own 84.82% of the company’s stock.

Western Midstream Partners Trading Down 0.3%

NYSE:WES opened at $38.53 on Friday. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.30 and a quick ratio of 1.30. Western Midstream Partners, LP has a fifty-two week low of $33.60 and a fifty-two week high of $43.33. The stock’s 50-day moving average is $39.14 and its two-hundred day moving average is $39.15. The stock has a market cap of $14.69 billion, a PE ratio of 11.86 and a beta of 1.13.

Western Midstream Partners (NYSE:WES) last released its earnings results on Wednesday, August 6th. The pipeline company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.05. Western Midstream Partners had a return on equity of 37.70% and a net margin of 34.45%. The company had revenue of $942.32 million for the quarter, compared to analysts’ expectations of $954.17 million. During the same quarter in the previous year, the business posted $0.97 EPS. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. As a group, equities research analysts forecast that Western Midstream Partners, LP will post 4.02 earnings per share for the current fiscal year.

Western Midstream Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Friday, August 1st were paid a $0.91 dividend. The ex-dividend date was Friday, August 1st. This represents a $3.64 dividend on an annualized basis and a yield of 9.4%. Western Midstream Partners’s payout ratio is 112.00%.

Analysts Set New Price Targets

Separately, Mizuho cut their target price on Western Midstream Partners from $45.00 to $44.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 20th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $39.80.

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.