Western Midstream Partners (NYSE:WES) Sets New 12-Month Low – Here’s What Happened

Western Midstream Partners, LP (NYSE:WES)’s stock price hit a new 52-week low during trading on Wednesday . The stock traded as low as $33.60 and last traded at $35.91, with a volume of 1231830 shares trading hands. The stock had previously closed at $34.99.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Western Midstream Partners from a “hold” rating to a “buy” rating in a research report on Saturday, March 8th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Western Midstream Partners has an average rating of “Hold” and an average target price of $38.43.

Western Midstream Partners Stock Up 4.3 %

The stock has a 50 day moving average price of $40.24 and a 200 day moving average price of $39.51. The company has a market cap of $13.91 billion, a P/E ratio of 9.31, a P/E/G ratio of 1.40 and a beta of 2.40. 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 Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 9.59%. The ex-dividend date was Monday, February 3rd. Western Midstream Partners’s payout ratio is 86.85%.

Institutional Trading of Western Midstream Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Penbrook Management LLC boosted its holdings in Western Midstream Partners by 81.3% during the first quarter. Penbrook Management LLC now owns 11,600 shares of the pipeline company’s stock worth $475,000 after buying an additional 5,200 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Western Midstream Partners by 29.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 42,294 shares of the pipeline company’s stock valued at $1,625,000 after acquiring an additional 9,506 shares during the last quarter. Novem Group bought a new stake in shares of Western Midstream Partners during the 4th quarter worth $695,000. State of Wyoming grew its holdings in shares of Western Midstream Partners by 40.6% in the 4th quarter. State of Wyoming now owns 3,323 shares of the pipeline company’s stock worth $128,000 after acquiring an additional 960 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Western Midstream Partners by 23.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,273,186 shares of the pipeline company’s stock worth $279,509,000 after purchasing an additional 1,366,341 shares during the period. 84.82% of the stock is currently owned by institutional investors.

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.