CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Has $49.21 Million Stake in Western Midstream Partners, LP (NYSE:WES)

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT reduced its holdings in Western Midstream Partners, LP (NYSE:WES) by 2.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,280,597 shares of the pipeline company’s stock after selling 34,875 shares during the quarter. Western Midstream Partners comprises 3.2% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s portfolio, making the stock its 13th biggest holding. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in Western Midstream Partners were worth $49,213,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in WES. Stifel Financial Corp increased its position in Western Midstream Partners by 42.1% in the 3rd quarter. Stifel Financial Corp now owns 108,367 shares of the pipeline company’s stock worth $4,146,000 after buying an additional 32,119 shares during the period. BNP Paribas Financial Markets increased its position in Western Midstream Partners by 6.5% during the third quarter. BNP Paribas Financial Markets now owns 996,018 shares of the pipeline company’s stock worth $38,108,000 after acquiring an additional 60,603 shares during the period. MAI Capital Management raised its stake in Western Midstream Partners by 293.1% during the 3rd quarter. MAI Capital Management now owns 29,878 shares of the pipeline company’s stock valued at $1,143,000 after purchasing an additional 22,277 shares during the last quarter. Citigroup Inc. boosted its holdings in Western Midstream Partners by 322.1% in the 3rd quarter. Citigroup Inc. now owns 406,587 shares of the pipeline company’s stock valued at $15,556,000 after purchasing an additional 310,260 shares during the period. Finally, JPMorgan Chase & Co. grew its position in Western Midstream Partners by 60.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,785,105 shares of the pipeline company’s stock worth $68,298,000 after purchasing an additional 670,440 shares during the last quarter. 84.82% of the stock is currently owned by institutional investors.

Western Midstream Partners Trading Down 0.1 %

Shares of WES opened at $42.39 on Friday. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market cap of $16.13 billion, a price-to-earnings ratio of 10.81, a PEG ratio of 1.41 and a beta of 2.90. The stock has a fifty day moving average price of $39.67 and a two-hundred day moving average price of $39.15. Western Midstream Partners, LP has a 52-week low of $27.84 and a 52-week high of $43.33.

Western Midstream Partners (NYSE:WES) last released its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.74 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.09). Western Midstream Partners had a net margin of 42.99% and a return on equity of 46.02%. The company had revenue of $883.36 million for the quarter, compared to the consensus estimate of $924.83 million. During the same period last year, the company earned $0.70 earnings per share. Western Midstream Partners’s revenue for the quarter was up 13.8% compared to the same quarter last year. Analysts predict that Western Midstream Partners, LP will post 4.03 EPS for the current fiscal year.

Western Midstream Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be given a dividend of $0.875 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $3.50 dividend on an annualized basis and a dividend yield of 8.26%. Western Midstream Partners’s payout ratio is currently 89.29%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. UBS Group reduced their target price on shares of Western Midstream Partners from $40.00 to $37.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. Morgan Stanley downgraded Western Midstream Partners from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $42.00 to $40.00 in a research report on Friday, October 25th. StockNews.com cut Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 28th. US Capital Advisors raised Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 26th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $41.00 price objective on shares of Western Midstream Partners in a research note on Monday, December 9th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $37.88.

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.