Western Midstream Partners, LP (NYSE:WES) Shares Sold by Duff & Phelps Investment Management Co.

Duff & Phelps Investment Management Co. decreased its position in Western Midstream Partners, LP (NYSE:WES) by 13.8% in the 4th quarter, HoldingsChannel reports. The firm owned 611,183 shares of the pipeline company’s stock after selling 97,500 shares during the period. Duff & Phelps Investment Management Co.’s holdings in Western Midstream Partners were worth $23,488,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Harbour Investments Inc. grew its holdings in 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 during the period. Global Retirement Partners LLC purchased a new position in Western Midstream Partners during the fourth quarter worth approximately $51,000. Empowered Funds LLC acquired a new position in shares of Western Midstream Partners in the 4th quarter valued at $53,000. Kieckhefer Group LLC purchased a new stake in shares of Western Midstream Partners during the 4th quarter valued at $58,000. Finally, Farther Finance Advisors LLC increased its holdings 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 buying an additional 498 shares during the last quarter. 84.82% of the stock is owned by hedge funds and other institutional investors.

Western Midstream Partners Price Performance

WES stock opened at $40.99 on Friday. The firm has a market cap of $15.63 billion, a P/E ratio of 10.46, a price-to-earnings-growth ratio of 1.40 and a beta of 2.88. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.11 and a current ratio of 1.11. Western Midstream Partners, LP has a 1 year low of $33.64 and a 1 year high of $43.33. The stock has a 50-day simple moving average of $40.84 and a 200-day simple moving average of $39.53.

Western Midstream Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were paid a $0.875 dividend. The ex-dividend date was Monday, February 3rd. This represents a $3.50 annualized dividend and a dividend yield of 8.54%. Western Midstream Partners’s dividend payout ratio (DPR) is presently 86.85%.

Analyst Ratings Changes

A number of brokerages recently weighed in on WES. StockNews.com upgraded Western Midstream Partners from a “hold” rating to a “buy” rating in a report on Saturday, March 8th. Royal Bank of Canada reiterated a “sector perform” rating and set a $41.00 target price on shares of Western Midstream Partners in a report on Monday, December 9th. Two investment 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’s stock. According to MarketBeat, the company presently 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.