MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Purchases 1,366,341 Shares of Western Midstream Partners, LP (NYSE:WES)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Western Midstream Partners, LP (NYSE:WES) by 23.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 7,273,186 shares of the pipeline company’s stock after acquiring an additional 1,366,341 shares during the quarter. Western Midstream Partners comprises approximately 0.6% of MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings, making the stock its 26th largest holding. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Western Midstream Partners were worth $279,509,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of WES. Invesco Ltd. lifted its stake in shares of Western Midstream Partners by 6.6% in the 4th quarter. Invesco Ltd. now owns 22,809,161 shares of the pipeline company’s stock valued at $876,556,000 after purchasing an additional 1,406,362 shares during the last quarter. Stifel Financial Corp raised its holdings in Western Midstream Partners by 624.5% during the 4th quarter. Stifel Financial Corp now owns 785,096 shares of the pipeline company’s stock valued at $30,171,000 after buying an additional 676,729 shares during the period. Barclays PLC lifted its position in Western Midstream Partners by 83.1% in the fourth quarter. Barclays PLC now owns 1,404,381 shares of the pipeline company’s stock worth $53,971,000 after buying an additional 637,266 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Western Midstream Partners during the fourth quarter worth $19,079,000. Finally, Eagle Global Advisors LLC increased its position in Western Midstream Partners by 23.2% during the fourth quarter. Eagle Global Advisors LLC now owns 2,434,080 shares of the pipeline company’s stock valued at $93,542,000 after acquiring an additional 458,111 shares during the last quarter. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Western Midstream Partners from a “hold” rating to a “buy” rating in a report on Saturday, March 8th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $38.33.

Western Midstream Partners Trading Up 1.5%

NYSE WES opened at $37.16 on Monday. The stock has a market cap of $14.17 billion, a PE ratio of 9.48, a PEG ratio of 1.40 and a beta of 1.12. Western Midstream Partners, LP has a 12 month low of $33.60 and a 12 month high of $43.33. The company’s 50-day moving average price is $38.66 and its 200-day moving average price is $39.25. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.05.

Western Midstream Partners (NYSE:WES) last issued its earnings results on Wednesday, May 7th. The pipeline company reported $0.79 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.04). Western Midstream Partners had a return on equity of 46.02% and a net margin of 42.99%. The company had revenue of $917.12 million during the quarter, compared to the consensus estimate of $926.55 million. During the same quarter in the prior year, the company earned $1.47 earnings per share. Western Midstream Partners’s revenue was up 3.3% on a year-over-year basis. Equities research analysts forecast that Western Midstream Partners, LP will post 4.02 earnings per share for the current year.

Western Midstream Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Friday, May 2nd will be issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 9.80%. This is a boost from Western Midstream Partners’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Friday, May 2nd. Western Midstream Partners’s dividend payout ratio is presently 108.66%.

Western Midstream Partners 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.