Allianz Asset Management GmbH Trims Stock Position in Western Midstream Partners, LP $WES

Allianz Asset Management GmbH decreased its stake in Western Midstream Partners, LP (NYSE:WES) by 27.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 270,864 shares of the pipeline company’s stock after selling 103,500 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.07% of Western Midstream Partners worth $10,642,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Militia Capital Partners LP boosted its position in Western Midstream Partners by 6,733.3% in the 2nd quarter. Militia Capital Partners LP now owns 205,000 shares of the pipeline company’s stock worth $7,934,000 after purchasing an additional 202,000 shares in the last quarter. BROOKFIELD Corp ON lifted its stake in shares of Western Midstream Partners by 19.1% in the 2nd quarter. BROOKFIELD Corp ON now owns 904,361 shares of the pipeline company’s stock valued at $34,999,000 after purchasing an additional 145,094 shares during the period. Empowered Funds LLC purchased a new stake in Western Midstream Partners during the second quarter worth $4,748,000. Empirical Finance LLC purchased a new stake in Western Midstream Partners during the second quarter worth $4,748,000. Finally, Bank of America Corp DE boosted its stake in shares of Western Midstream Partners by 9.4% during the 2nd quarter. Bank of America Corp DE now owns 1,426,731 shares of the pipeline company’s stock worth $55,215,000 after acquiring an additional 122,463 shares in the last quarter. 84.82% of the stock is currently owned by hedge funds and other institutional investors.

Western Midstream Partners Stock Down 0.4%

Shares of NYSE WES opened at $41.08 on Monday. Western Midstream Partners, LP has a 12-month low of $33.60 and a 12-month high of $42.80. The stock has a market cap of $16.76 billion, a PE ratio of 12.15 and a beta of 0.77. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 2.08. The company has a 50-day moving average of $40.16 and a 200 day moving average of $39.21.

Western Midstream Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Monday, February 2nd will be given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 8.9%. The ex-dividend date is Monday, February 2nd. Western Midstream Partners’s dividend payout ratio (DPR) is presently 107.69%.

Wall Street Analysts Forecast Growth

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

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.