Western Midstream Partners, LP (NYSE:WES) Sees Significant Drop in Short Interest

Western Midstream Partners, LP (NYSE:WES) was the target of a large drop in short interest during the month of March. As of March 15th, there was short interest totalling 4,480,000 shares, a drop of 25.1% from the February 28th total of 5,980,000 shares. Based on an average daily volume of 1,300,000 shares, the short-interest ratio is currently 3.4 days. Currently, 2.1% of the company’s shares are sold short.

Western Midstream Partners Trading Down 1.3 %

Shares of Western Midstream Partners stock traded down $0.53 during trading hours on Monday, hitting $40.94. The company’s stock had a trading volume of 757,580 shares, compared to its average volume of 1,224,547. Western Midstream Partners has a 12 month low of $33.64 and a 12 month high of $43.33. 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 capitalization of $15.61 billion, a PE ratio of 10.44, a price-to-earnings-growth ratio of 1.40 and a beta of 2.88. The stock has a 50 day moving average of $40.83 and a 200 day moving average of $39.59.

Western Midstream Partners Dividend Announcement

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Western Midstream Partners by 29.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 42,294 shares of the pipeline company’s stock worth $1,625,000 after acquiring an additional 9,506 shares during the period. Novem Group bought a new position in Western Midstream Partners during the 4th quarter worth about $695,000. State of Wyoming raised its stake in shares of Western Midstream Partners by 40.6% in the 4th quarter. State of Wyoming now owns 3,323 shares of the pipeline company’s stock valued at $128,000 after purchasing an additional 960 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Western Midstream Partners by 23.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,273,186 shares of the pipeline company’s stock valued at $279,509,000 after purchasing an additional 1,366,341 shares in the last quarter. Finally, Eagle Global Advisors LLC boosted its position in shares of 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 worth $93,542,000 after buying an additional 458,111 shares during the period. Institutional investors own 84.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on WES. StockNews.com upgraded Western Midstream Partners from a “hold” rating to a “buy” rating in a report on Saturday, March 8th. Royal Bank of Canada restated a “sector perform” rating and set a $41.00 target price on shares of Western Midstream Partners in a research report on Monday, December 9th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Western Midstream Partners currently has an average rating of “Hold” and a consensus target price of $38.43.

About Western Midstream Partners

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.