Western Midstream Partners, LP (NYSE:WES) Short Interest Update

Western Midstream Partners, LP (NYSE:WES) was the recipient of a large decrease in short interest during the month of February. As of February 15th, there was short interest totalling 6,340,000 shares, a decrease of 15.0% from the January 31st total of 7,460,000 shares. Based on an average daily volume of 1,230,000 shares, the days-to-cover ratio is currently 5.2 days. Approximately 3.0% of the shares of the stock are sold short.

Western Midstream Partners Price Performance

WES stock traded up $1.10 during mid-day trading on Friday, hitting $38.97. The company had a trading volume of 1,278,064 shares, compared to its average volume of 1,398,479. The company has a market capitalization of $14.86 billion, a price-to-earnings ratio of 9.94, a P/E/G ratio of 1.40 and a beta of 2.88. The company has a 50-day moving average price of $40.46 and a 200 day moving average price of $39.23. 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 has a 12-month low of $33.39 and a 12-month high of $43.33.

Western Midstream Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were issued a $0.875 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $3.50 dividend on an annualized basis and a dividend yield of 8.98%. Western Midstream Partners’s dividend payout ratio (DPR) is presently 86.85%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cary Street Partners Financial LLC purchased a new stake in shares of Western Midstream Partners in the fourth quarter valued at $39,000. Harbour Investments Inc. boosted its holdings in shares of Western Midstream Partners by 555.6% in the 4th quarter. Harbour Investments Inc. now owns 1,180 shares of the pipeline company’s stock valued at $45,000 after buying an additional 1,000 shares in the last quarter. Global Retirement Partners LLC bought a new position in shares of Western Midstream Partners during the 4th quarter worth approximately $51,000. Empowered Funds LLC purchased a new stake in Western Midstream Partners during the fourth quarter valued at approximately $53,000. Finally, Farther Finance Advisors LLC boosted its stake in Western Midstream Partners by 287.3% in the third quarter. Farther Finance Advisors LLC now owns 1,437 shares of the pipeline company’s stock valued at $55,000 after acquiring an additional 1,066 shares in the last quarter. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on WES shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $41.00 target price on shares of Western Midstream Partners in a research report on Monday, December 9th. UBS Group cut their target price on Western Midstream Partners from $40.00 to $37.00 and set a “neutral” rating on the stock in a research note on Friday, November 15th. StockNews.com downgraded Western Midstream Partners from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Finally, US Capital Advisors upgraded Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 26th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $38.43.

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.