Advisors Asset Management Inc. Has $7.34 Million Stock Position in Western Midstream Partners, LP $WES

Advisors Asset Management Inc. raised its holdings in shares of Western Midstream Partners, LP (NYSE:WES) by 18.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 186,853 shares of the pipeline company’s stock after purchasing an additional 29,754 shares during the quarter. Advisors Asset Management Inc.’s holdings in Western Midstream Partners were worth $7,341,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in WES. Jones Financial Companies Lllp boosted its stake in shares of Western Midstream Partners by 86.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 908 shares of the pipeline company’s stock valued at $36,000 after purchasing an additional 420 shares in the last quarter. MTM Investment Management LLC purchased a new stake in Western Midstream Partners in the second quarter worth $39,000. Allworth Financial LP purchased a new position in Western Midstream Partners in the 2nd quarter worth about $43,000. Mather Group LLC. bought a new stake in Western Midstream Partners during the 3rd quarter valued at about $49,000. Finally, Global Retirement Partners LLC boosted its position in Western Midstream Partners by 39.0% in the 3rd quarter. Global Retirement Partners LLC now owns 1,850 shares of the pipeline company’s stock valued at $73,000 after buying an additional 519 shares during the period. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on WES. Stifel Nicolaus set a $43.00 target price on shares of Western Midstream Partners in a research report on Thursday, November 6th. Wall Street Zen downgraded Western Midstream Partners from a “buy” rating to a “hold” rating in a report on Saturday, December 27th. Citigroup assumed coverage on Western Midstream Partners in a research report on Monday, October 20th. They set a “neutral” rating and a $39.00 target price for the company. Wells Fargo & Company dropped their price target on Western Midstream Partners from $40.00 to $39.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 22nd. Finally, Royal Bank Of Canada lifted their price objective on Western Midstream Partners from $39.00 to $42.00 and gave the company a “sector perform” rating in a report on Friday, November 28th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $41.33.

Western Midstream Partners Trading Up 1.8%

Shares of NYSE:WES opened at $42.46 on Thursday. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 2.08. Western Midstream Partners, LP has a 52-week low of $33.60 and a 52-week high of $42.80. The stock has a market cap of $17.32 billion, a price-to-earnings ratio of 12.56 and a beta of 0.77. The business has a 50-day moving average price of $40.32 and a 200-day moving average price of $39.25.

Western Midstream Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Monday, February 2nd will be paid a $0.91 dividend. The ex-dividend date is Monday, February 2nd. This represents a $3.64 dividend on an annualized basis and a dividend yield of 8.6%. Western Midstream Partners’s dividend payout ratio is presently 107.69%.

About Western Midstream Partners

Western Midstream Partners, LP (NYSE: WES) is a midstream energy infrastructure company that owns, operates and develops an integrated network of crude oil, natural gas and produced water gathering, processing, transportation and storage assets in the United States. The partnership’s primary offerings include pipeline transportation, fractionation services, natural gas liquids (NGL) logistics and produced water handling. Through its fee-based and commodity-based contracts, Western Midstream provides its customers with essential services that support efficient energy production and distribution.

The company’s asset portfolio spans key onshore basins, including the Delaware Basin in West Texas and southeastern New Mexico, the San Juan Basin in New Mexico and Colorado, and the Denver-Julesburg Basin in Colorado.