Clearbridge Investments LLC Decreases Stake in Western Midstream Partners, LP (NYSE:WES)

Clearbridge Investments LLC cut its position in Western Midstream Partners, LP (NYSE:WES) by 6.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,324,043 shares of the pipeline company’s stock after selling 163,692 shares during the period. Clearbridge Investments LLC owned 0.61% of Western Midstream Partners worth $89,313,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Chickasaw Capital Management LLC increased its holdings in Western Midstream Partners by 1.5% in the fourth quarter. Chickasaw Capital Management LLC now owns 6,755,387 shares of the pipeline company’s stock valued at $259,610,000 after buying an additional 99,518 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Western Midstream Partners by 60.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,785,105 shares of the pipeline company’s stock worth $68,298,000 after acquiring an additional 670,440 shares in the last quarter. Recurrent Investment Advisors LLC increased its holdings in shares of Western Midstream Partners by 5.4% in the 3rd quarter. Recurrent Investment Advisors LLC now owns 1,397,140 shares of the pipeline company’s stock valued at $53,455,000 after acquiring an additional 71,210 shares during the last quarter. Duff & Phelps Investment Management Co. raised its position in shares of Western Midstream Partners by 6,986.8% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 708,683 shares of the pipeline company’s stock worth $27,114,000 after acquiring an additional 698,683 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Western Midstream Partners during the fourth quarter worth approximately $19,079,000. 84.82% of the stock is currently owned by institutional investors and hedge funds.

Western Midstream Partners Price Performance

WES stock opened at $40.94 on Tuesday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.05. The company has a market capitalization of $15.61 billion, a P/E ratio of 10.44, a PEG ratio of 1.40 and a beta of 2.88. The business has a 50 day simple moving average of $40.83 and a 200-day simple moving average of $39.59. Western Midstream Partners, LP has a twelve month low of $33.64 and a twelve month high of $43.33.

Western Midstream Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were paid a dividend of $0.875 per share. This represents a $3.50 dividend on an annualized basis and a yield of 8.55%. The ex-dividend date of this dividend was Monday, February 3rd. Western Midstream Partners’s dividend payout ratio is currently 86.85%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on WES shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $41.00 price target on shares of Western Midstream Partners in a research note on Monday, December 9th. StockNews.com upgraded shares of Western Midstream Partners from a “hold” rating to a “buy” rating in a report on Saturday, March 8th. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $38.43.

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.