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

Western Midstream Partners, LP (NYSE:WES) saw a large decline in short interest in March. As of March 15th, there was short interest totalling 4,480,000 shares, a decline of 25.1% from the February 28th total of 5,980,000 shares. Approximately 2.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,300,000 shares, the days-to-cover ratio is presently 3.4 days.

Analyst Upgrades and Downgrades

WES has been the topic of a number of recent analyst reports. StockNews.com raised shares of Western Midstream Partners from a “hold” rating to a “buy” rating in a research note on Saturday, March 8th. Royal Bank of Canada reissued a “sector perform” rating and set a $41.00 price target on shares of Western Midstream Partners in a report on Monday, December 9th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $38.43.

Hedge Funds Weigh In On Western Midstream Partners

Large investors have recently modified their holdings of the business. Cary Street Partners Financial LLC acquired a new stake in Western Midstream Partners in the fourth quarter valued at $39,000. Harbour Investments Inc. grew its position 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 during the last quarter. Global Retirement Partners LLC acquired a new stake in shares of Western Midstream Partners in the fourth quarter valued at about $51,000. Empowered Funds LLC bought a new position in shares of Western Midstream Partners during the fourth quarter worth about $53,000. Finally, Kieckhefer Group LLC acquired a new position in shares of Western Midstream Partners in the fourth quarter worth approximately $58,000. Institutional investors own 84.82% of the company’s stock.

Western Midstream Partners Price Performance

Shares of NYSE WES traded up $0.00 during mid-day trading on Tuesday, hitting $40.96. 774,766 shares of the stock traded hands, compared to its average volume of 1,224,983. Western Midstream Partners has a twelve month low of $33.64 and a twelve month high of $43.33. The firm has a 50 day simple moving average of $40.79 and a two-hundred day simple moving average of $39.60. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market cap of $15.62 billion, a PE ratio of 10.45, a price-to-earnings-growth ratio of 1.40 and a beta of 2.88.

Western Midstream Partners Dividend Announcement

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

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.