Envestnet Asset Management Inc. Raises Stake in Western Midstream Partners, LP (NYSE:WES)

Envestnet Asset Management Inc. increased its position in Western Midstream Partners, LP (NYSE:WES) by 7.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 142,877 shares of the pipeline company’s stock after purchasing an additional 10,343 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Western Midstream Partners were worth $5,491,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Harbour Investments Inc. increased its position in Western Midstream Partners by 555.6% during the 4th quarter. Harbour Investments Inc. now owns 1,180 shares of the pipeline company’s stock valued at $45,000 after purchasing an additional 1,000 shares during the period. Global Retirement Partners LLC acquired a new stake in Western Midstream Partners in the fourth quarter valued at approximately $51,000. Empowered Funds LLC acquired a new stake in shares of Western Midstream Partners in the 4th quarter worth $53,000. Kieckhefer Group LLC purchased a new stake in shares of Western Midstream Partners during the fourth quarter worth about $58,000. Finally, Farther Finance Advisors LLC grew its position in Western Midstream Partners by 34.7% during the 4th quarter. Farther Finance Advisors LLC now owns 1,935 shares of the pipeline company’s stock worth $74,000 after purchasing an additional 498 shares during the last quarter. 84.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Western Midstream Partners from a “hold” rating to a “buy” rating in a research report on Saturday, March 8th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Western Midstream Partners has an average rating of “Hold” and a consensus target price of $38.43.

Western Midstream Partners Stock Down 3.3 %

Shares of WES stock opened at $36.87 on Tuesday. 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 cap of $14.06 billion, a P/E ratio of 9.41, a P/E/G ratio of 1.40 and a beta of 2.40. The stock has a 50 day moving average of $39.53 and a 200 day moving average of $39.41. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.05.

Western Midstream Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were issued a dividend of $0.875 per share. This represents a $3.50 dividend on an annualized basis and a yield of 9.49%. The ex-dividend date of this dividend was Monday, February 3rd. Western Midstream Partners’s dividend payout ratio (DPR) is presently 86.85%.

About Western Midstream Partners

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.