Brookfield Corp ON boosted its stake in shares of Western Midstream Partners, LP (NYSE:WES – Free Report) by 2.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,508,919 shares of the pipeline company’s stock after acquiring an additional 51,125 shares during the period. Brookfield Corp ON owned 0.65% of Western Midstream Partners worth $66,160,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Blair William & Co. IL lifted its position in Western Midstream Partners by 5.2% in the first quarter. Blair William & Co. IL now owns 9,492 shares of the pipeline company’s stock worth $239,000 after buying an additional 470 shares during the last quarter. Chilton Capital Management LLC lifted its position in Western Midstream Partners by 0.6% in the fourth quarter. Chilton Capital Management LLC now owns 79,999 shares of the pipeline company’s stock worth $2,148,000 after buying an additional 492 shares during the last quarter. Creative Planning lifted its position in Western Midstream Partners by 5.5% in the fourth quarter. Creative Planning now owns 9,614 shares of the pipeline company’s stock worth $258,000 after buying an additional 500 shares during the last quarter. American Financial Group Inc. lifted its position in Western Midstream Partners by 2.4% in the first quarter. American Financial Group Inc. now owns 21,000 shares of the pipeline company’s stock worth $554,000 after buying an additional 500 shares during the last quarter. Finally, First Republic Investment Management Inc. lifted its position in Western Midstream Partners by 1.2% in the fourth quarter. First Republic Investment Management Inc. now owns 42,885 shares of the pipeline company’s stock worth $1,151,000 after buying an additional 504 shares during the last quarter. 42.02% of the stock is owned by hedge funds and other institutional investors.
Western Midstream Partners Stock Performance
Shares of Western Midstream Partners stock opened at $26.11 on Tuesday. The company has a market capitalization of $10.04 billion, a PE ratio of 9.78 and a beta of 2.76. The company has a debt-to-equity ratio of 2.26, a quick ratio of 1.28 and a current ratio of 1.28. The company has a 50-day simple moving average of $27.29 and a two-hundred day simple moving average of $26.59. Western Midstream Partners, LP has a one year low of $23.24 and a one year high of $29.18.
Western Midstream Partners Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Monday, July 31st were issued a $0.5625 dividend. The ex-dividend date was Friday, July 28th. This represents a $2.25 dividend on an annualized basis and a yield of 8.62%. Western Midstream Partners’s dividend payout ratio is presently 84.27%.
Wall Street Analyst Weigh In
WES has been the subject of a number of recent analyst reports. US Capital Advisors lowered shares of Western Midstream Partners from an “overweight” rating to a “hold” rating in a research note on Thursday, August 17th. Raymond James lowered their price objective on shares of Western Midstream Partners from $34.00 to $32.00 and set an “outperform” rating for the company in a research note on Friday, July 21st. Mizuho lowered their price objective on shares of Western Midstream Partners from $35.00 to $34.00 and set a “buy” rating for the company in a research note on Wednesday, September 6th. Morgan Stanley lowered their price objective on shares of Western Midstream Partners from $36.00 to $34.00 and set an “overweight” rating for the company in a research note on Tuesday, August 29th. Finally, StockNews.com began coverage on shares of Western Midstream Partners in a research note on Thursday, August 17th. They issued a “buy” rating for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $30.50.
Check Out Our Latest Analysis on Western Midstream Partners
Western Midstream Partners Company Profile
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.
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