Recurrent Investment Advisors LLC Increases Position in Western Midstream Partners, LP (NYSE:WES)

Recurrent Investment Advisors LLC raised its holdings in Western Midstream Partners, LP (NYSE:WES) by 0.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,397,780 shares of the pipeline company’s stock after buying an additional 640 shares during the quarter. Western Midstream Partners accounts for 4.9% of Recurrent Investment Advisors LLC’s investment portfolio, making the stock its 9th largest holding. Recurrent Investment Advisors LLC’s holdings in Western Midstream Partners were worth $53,717,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Invesco Ltd. grew 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Western Midstream Partners by 23.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,273,186 shares of the pipeline company’s stock valued at $279,509,000 after buying an additional 1,366,341 shares in the last quarter. Stifel Financial Corp increased its position in Western Midstream Partners by 624.5% in the 4th quarter. Stifel Financial Corp now owns 785,096 shares of the pipeline company’s stock valued at $30,171,000 after buying an additional 676,729 shares in the last quarter. Barclays PLC raised its stake in Western Midstream Partners by 83.1% during the 4th quarter. Barclays PLC now owns 1,404,381 shares of the pipeline company’s stock worth $53,971,000 after buying an additional 637,266 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Western Midstream Partners in the fourth quarter worth approximately $19,079,000. 84.82% of the stock is currently owned by institutional investors.

Western Midstream Partners Stock Up 1.1%

WES stock opened at $39.80 on Thursday. The stock’s 50 day moving average is $38.71 and its 200-day moving average is $39.25. Western Midstream Partners, LP has a twelve month low of $33.60 and a twelve month high of $43.33. The firm has a market capitalization of $15.18 billion, a PE ratio of 10.15, a P/E/G ratio of 1.40 and a beta of 1.12. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.05.

Western Midstream Partners (NYSE:WES) last posted its quarterly earnings data on Wednesday, May 7th. The pipeline company reported $0.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.04). Western Midstream Partners had a return on equity of 46.02% and a net margin of 42.99%. The firm had revenue of $917.12 million for the quarter, compared to analysts’ expectations of $926.55 million. During the same period in the prior year, the firm earned $1.47 earnings per share. Western Midstream Partners’s revenue was up 3.3% compared to the same quarter last year. Sell-side analysts expect that Western Midstream Partners, LP will post 4.02 EPS for the current fiscal year.

Western Midstream Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Friday, May 2nd will be paid a $0.91 dividend. This is a positive change from Western Midstream Partners’s previous quarterly dividend of $0.88. The ex-dividend date is Friday, May 2nd. This represents a $3.64 annualized dividend and a yield of 9.15%. Western Midstream Partners’s dividend payout ratio (DPR) is 108.66%.

Analysts Set New Price Targets

Separately, StockNews.com raised Western Midstream Partners from a “hold” rating to a “buy” rating in a research report on Saturday, March 8th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $38.33.

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.