Pacer Advisors Inc. Increases Stock Position in Western Midstream Partners, LP (NYSE:WES)

Pacer Advisors Inc. raised its position in shares of Western Midstream Partners, LP (NYSE:WES) by 15.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 59,722 shares of the pipeline company’s stock after buying an additional 8,022 shares during the period. Pacer Advisors Inc.’s holdings in Western Midstream Partners were worth $2,446,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Princeton Global Asset Management LLC boosted its position in Western Midstream Partners by 133.3% during the 1st quarter. Princeton Global Asset Management LLC now owns 700 shares of the pipeline company’s stock valued at $29,000 after buying an additional 400 shares during the period. Bessemer Group Inc. purchased a new position in Western Midstream Partners during the 1st quarter valued at about $41,000. Cary Street Partners Financial LLC bought a new stake in Western Midstream Partners during the 4th quarter valued at about $39,000. Creative Financial Designs Inc. ADV bought a new stake in Western Midstream Partners during the 1st quarter valued at about $72,000. Finally, RE Dickinson Investment Advisors LLC increased its stake in Western Midstream Partners by 21.8% during the 4th quarter. RE Dickinson Investment Advisors LLC now owns 2,168 shares of the pipeline company’s stock valued at $83,000 after purchasing an additional 388 shares in the last quarter. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Western Midstream Partners Stock Performance

Shares of WES stock opened at $41.12 on Wednesday. The company has a 50 day moving average price of $38.89 and a 200-day moving average price of $39.36. Western Midstream Partners, LP has a 52 week low of $33.60 and a 52 week high of $43.33. The firm has a market capitalization of $15.68 billion, a PE ratio of 12.28 and a beta of 1.08. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 2.08.

Western Midstream Partners (NYSE:WES) last announced its quarterly 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 38.52% and a net margin of 35.79%. 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 firm earned $1.47 earnings per share. The business’s revenue was up 3.3% compared to the same quarter last year. As a group, equities research analysts expect that Western Midstream Partners, LP will post 4.02 earnings per share for the current year.

Western Midstream Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Friday, August 1st will be given a dividend of $0.91 per share. The ex-dividend date of this dividend is Friday, August 1st. This represents a $3.64 annualized dividend and a yield of 8.85%. Western Midstream Partners’s dividend payout ratio (DPR) is 108.66%.

Wall Street Analysts Forecast Growth

Separately, Mizuho reduced their price objective on shares of Western Midstream Partners from $45.00 to $44.00 and set an “outperform” rating for the company in a research note on Tuesday, May 20th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $39.83.

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.