Dividend Assets Capital LLC Sells 1,075 Shares of Western Midstream Partners, LP (NYSE:WES)

Dividend Assets Capital LLC trimmed its stake in shares of Western Midstream Partners, LP (NYSE:WES) by 1.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 64,577 shares of the pipeline company’s stock after selling 1,075 shares during the quarter. Dividend Assets Capital LLC’s holdings in Western Midstream Partners were worth $2,645,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Sonora Investment Management Group LLC bought a new stake in shares of Western Midstream Partners during the 1st quarter valued at $205,000. Daymark Wealth Partners LLC grew its position in Western Midstream Partners by 8.6% in the first quarter. Daymark Wealth Partners LLC now owns 45,506 shares of the pipeline company’s stock worth $1,864,000 after acquiring an additional 3,605 shares during the period. Baldwin Wealth Partners LLC MA acquired a new position in Western Midstream Partners during the 1st quarter worth $205,000. Princeton Global Asset Management LLC boosted its stake in Western Midstream Partners by 133.3% in the first quarter. Princeton Global Asset Management LLC now owns 700 shares of the pipeline company’s stock valued at $29,000 after acquiring an additional 400 shares in the last quarter. Finally, Penbrook Management LLC boosted its stake in shares of Western Midstream Partners by 81.3% in the first quarter. Penbrook Management LLC now owns 11,600 shares of the pipeline company’s stock valued at $475,000 after buying an additional 5,200 shares in the last quarter. Institutional investors own 84.82% of the company’s stock.

Western Midstream Partners Stock Performance

NYSE WES opened at $37.36 on Tuesday. The firm has a market capitalization of $14.25 billion, a price-to-earnings ratio of 9.53, a P/E/G ratio of 1.40 and a beta of 1.09. Western Midstream Partners, LP has a 52-week low of $33.60 and a 52-week high of $43.33. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.11 and a quick ratio of 1.11. The company’s fifty day moving average is $37.73 and its two-hundred day moving average is $39.40.

Western Midstream Partners (NYSE:WES) last announced its quarterly earnings data on Wednesday, May 7th. The pipeline company reported $0.79 earnings per share 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 analyst estimates of $926.55 million. Western Midstream Partners had a net margin of 42.99% and a return on equity of 46.02%. Western Midstream Partners’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.47 EPS. Equities research analysts forecast that Western Midstream Partners, LP will post 4.02 EPS for the current year.

Western Midstream Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Friday, May 2nd were issued a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 9.74%. The ex-dividend date of this dividend was Friday, May 2nd. This is a positive change from Western Midstream Partners’s previous quarterly dividend of $0.88. Western Midstream Partners’s dividend payout ratio (DPR) is 108.66%.

Analyst Upgrades and Downgrades

WES has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of Western Midstream Partners from a “hold” rating to a “buy” rating in a research note on Saturday, March 8th. Mizuho lowered their price objective on Western Midstream Partners from $45.00 to $44.00 and set an “outperform” rating for the company in a research report on Tuesday, May 20th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Western Midstream Partners 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.