Cambridge Investment Research Advisors Inc. Has $1.09 Million Position in Western Midstream Partners, LP (NYSE:WES)

Cambridge Investment Research Advisors Inc. boosted its holdings in Western Midstream Partners, LP (NYSE:WES) by 10.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,483 shares of the pipeline company’s stock after buying an additional 2,485 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Western Midstream Partners were worth $1,085,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of WES. 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 purchasing an additional 1,406,362 shares during the period. 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 purchasing an additional 159,016 shares during the period. 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 purchasing an additional 1,366,341 shares during the period. 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 purchasing an additional 458,111 shares during the period. 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 purchasing an additional 15,978 shares during the period. 84.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Mizuho cut their target price on shares of Western Midstream Partners from $45.00 to $44.00 and set an “outperform” rating on the stock in a report on Tuesday, May 20th. Wall Street Zen raised shares of Western Midstream Partners from a “hold” rating to a “buy” rating in a research report on Saturday, March 8th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $39.83.

Western Midstream Partners Stock Down 0.8%

Shares of WES stock opened at $38.78 on Friday. The firm has a fifty day moving average of $38.19 and a 200-day moving average of $39.26. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 2.08. Western Midstream Partners, LP has a 12-month low of $33.60 and a 12-month high of $43.33. The company has a market capitalization of $14.79 billion, a price-to-earnings ratio of 11.57 and a beta of 1.08.

Western Midstream Partners (NYSE:WES) last issued its quarterly earnings data on Wednesday, May 7th. The pipeline company reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.04). The company had revenue of $917.12 million for the quarter, compared to the consensus estimate of $926.55 million. Western Midstream Partners had a return on equity of 38.52% and a net margin of 35.79%. The firm’s revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.47 EPS. As a group, equities research analysts predict that Western Midstream Partners, LP will post 4.02 earnings per share for the current fiscal year.

Western Midstream Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Friday, May 2nd were given a $0.91 dividend. The ex-dividend date was Friday, May 2nd. This represents a $3.64 dividend on an annualized basis and a yield of 9.39%. This is an increase from Western Midstream Partners’s previous quarterly dividend of $0.88. Western Midstream Partners’s dividend payout ratio (DPR) is 108.66%.

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.