Advisors Asset Management Inc. Boosts Stake in Western Midstream Partners, LP (NYSE:WES)

Advisors Asset Management Inc. raised its position in Western Midstream Partners, LP (NYSE:WES) by 40.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 104,884 shares of the pipeline company’s stock after purchasing an additional 30,449 shares during the period. Advisors Asset Management Inc.’s holdings in Western Midstream Partners were worth $4,031,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Harbour Investments Inc. increased its stake in shares of Western Midstream Partners by 555.6% during the 4th quarter. Harbour Investments Inc. now owns 1,180 shares of the pipeline company’s stock worth $45,000 after purchasing an additional 1,000 shares during the last quarter. Global Retirement Partners LLC purchased a new stake in shares of Western Midstream Partners during the 4th quarter worth approximately $51,000. Empowered Funds LLC purchased a new stake in shares of Western Midstream Partners during the 4th quarter worth approximately $53,000. Kieckhefer Group LLC purchased a new stake in shares of Western Midstream Partners during the 4th quarter worth approximately $58,000. Finally, Farther Finance Advisors LLC increased its stake in shares of Western Midstream Partners by 34.7% during the 4th quarter. Farther Finance Advisors LLC now owns 1,935 shares of the pipeline company’s stock worth $74,000 after purchasing an additional 498 shares during the last quarter. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Western Midstream Partners Stock Up 0.0 %

Shares of NYSE:WES opened at $41.85 on Friday. The firm has a fifty day moving average price of $40.77 and a two-hundred day moving average price of $39.41. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.11 and a quick ratio of 1.11. Western Midstream Partners, LP has a one year low of $33.64 and a one year high of $43.33. The company has a market cap of $15.96 billion, a price-to-earnings ratio of 10.68, a PEG ratio of 1.40 and a beta of 2.88.

Western Midstream Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a $0.875 dividend. This represents a $3.50 annualized dividend and a yield of 8.36%. The ex-dividend date was Monday, February 3rd. Western Midstream Partners’s payout ratio is 86.85%.

Wall Street Analyst Weigh In

WES has been the subject of several research analyst reports. US Capital Advisors upgraded shares of Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. StockNews.com upgraded shares of Western Midstream Partners from a “hold” rating to a “buy” rating in a research note on Saturday, March 8th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $41.00 price objective on shares of Western Midstream Partners in a report on Monday, December 9th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $38.43.

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.