Western Midstream Partners, LP (NYSE:WES) Position Lessened by M&T Bank Corp

M&T Bank Corp reduced its stake in shares of Western Midstream Partners, LP (NYSE:WES) by 40.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,000 shares of the pipeline company’s stock after selling 8,000 shares during the quarter. M&T Bank Corp’s holdings in Western Midstream Partners were worth $492,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC boosted its stake in Western Midstream Partners by 4.7% during the 4th quarter. Integrated Wealth Concepts LLC now owns 6,833 shares of the pipeline company’s stock valued at $263,000 after purchasing an additional 306 shares during the period. Virtus ETF Advisers LLC increased its position in Western Midstream Partners by 7.3% in the 4th quarter. Virtus ETF Advisers LLC now owns 4,564 shares of the pipeline company’s stock valued at $175,000 after acquiring an additional 311 shares during the period. RE Dickinson Investment Advisors LLC raised its stake in Western Midstream Partners by 21.8% during the 4th quarter. RE Dickinson Investment Advisors LLC now owns 2,168 shares of the pipeline company’s stock valued at $83,000 after acquiring an additional 388 shares in the last quarter. Princeton Global Asset Management LLC boosted its position in Western Midstream Partners by 133.3% during the 1st quarter. Princeton Global Asset Management LLC now owns 700 shares of the pipeline company’s stock worth $29,000 after acquiring an additional 400 shares during the period. Finally, Farther Finance Advisors LLC grew its stake in shares of Western Midstream Partners by 34.7% in the fourth 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 in the last quarter. 84.82% of the stock is owned by institutional investors and hedge funds.

Western Midstream Partners Stock Performance

WES opened at $40.18 on Thursday. The company has a market capitalization of $15.32 billion, a price-to-earnings ratio of 11.99 and a beta of 1.08. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.18 and a quick ratio of 1.18. Western Midstream Partners, LP has a 1-year low of $33.60 and a 1-year high of $43.33. The business has a 50 day moving average price of $38.60 and a two-hundred day moving average price of $39.29.

Western Midstream Partners (NYSE:WES) last posted its quarterly earnings data on Wednesday, May 7th. The pipeline company reported $0.79 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.04). The firm had revenue of $917.12 million during 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 quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.47 EPS. Research analysts predict that Western Midstream Partners, LP will post 4.02 EPS for the current fiscal year.

Western Midstream Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Friday, May 2nd were issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 9.06%. This is an increase from Western Midstream Partners’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Friday, May 2nd. Western Midstream Partners’s dividend payout ratio is presently 108.66%.

Analyst Ratings Changes

Separately, Mizuho cut their price objective on shares of Western Midstream Partners from $45.00 to $44.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 20th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Western Midstream Partners presently has an average rating of “Hold” and a consensus price target of $39.83.

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.