Miller Howard Investments Inc. NY Sells 140,484 Shares of Western Midstream Partners, LP (NYSE:WES)

Miller Howard Investments Inc. NY lowered its holdings in Western Midstream Partners, LP (NYSE:WES) by 8.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,567,197 shares of the pipeline company’s stock after selling 140,484 shares during the quarter. Western Midstream Partners accounts for about 2.0% of Miller Howard Investments Inc. NY’s investment portfolio, making the stock its 18th biggest position. Miller Howard Investments Inc. NY’s holdings in Western Midstream Partners were worth $60,227,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in WES. Chickasaw Capital Management LLC increased its holdings in shares of Western Midstream Partners by 1.5% during the fourth quarter. Chickasaw Capital Management LLC now owns 6,755,387 shares of the pipeline company’s stock worth $259,610,000 after buying an additional 99,518 shares in the last quarter. Kayne Anderson Capital Advisors LP increased its holdings in Western Midstream Partners by 23.5% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 6,228,448 shares of the pipeline company’s stock valued at $238,300,000 after purchasing an additional 1,184,597 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Western Midstream Partners by 60.1% in the third quarter. JPMorgan Chase & Co. now owns 1,785,105 shares of the pipeline company’s stock worth $68,298,000 after purchasing an additional 670,440 shares in the last quarter. Fractal Investments LLC increased its stake in shares of Western Midstream Partners by 5.4% in the third quarter. Fractal Investments LLC now owns 1,465,706 shares of the pipeline company’s stock valued at $56,078,000 after buying an additional 75,145 shares in the last quarter. Finally, Recurrent Investment Advisors LLC lifted its position in Western Midstream Partners by 5.4% during the 3rd quarter. Recurrent Investment Advisors LLC now owns 1,397,140 shares of the pipeline company’s stock worth $53,455,000 after buying an additional 71,210 shares in the last quarter. Institutional investors and hedge funds own 84.82% of the company’s stock.

Western Midstream Partners Trading Down 0.2 %

Shares of NYSE WES opened at $40.35 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.05. Western Midstream Partners, LP has a twelve month low of $27.87 and a twelve month high of $43.33. The company’s fifty day moving average is $40.16 and its 200-day moving average is $39.12. The stock has a market cap of $15.36 billion, a price-to-earnings ratio of 10.29, a P/E/G ratio of 1.36 and a beta of 2.88.

Western Midstream Partners (NYSE:WES) last posted its earnings results on Wednesday, November 6th. The pipeline company reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.09). The business had revenue of $883.36 million during the quarter, compared to analyst estimates of $924.83 million. Western Midstream Partners had a net margin of 42.99% and a return on equity of 46.02%. The firm’s revenue was up 13.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.70 earnings per share. Equities research analysts predict that Western Midstream Partners, LP will post 4.02 EPS for the current year.

Western Midstream Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be given a $0.875 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $3.50 annualized dividend and a dividend yield of 8.67%. Western Midstream Partners’s dividend payout ratio is presently 89.29%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Morgan Stanley downgraded shares of Western Midstream Partners from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $42.00 to $40.00 in a research note on Friday, October 25th. Bank of America initiated coverage on Western Midstream Partners in a research report on Thursday, October 17th. They issued an “underperform” rating and a $37.00 price objective on the stock. US Capital Advisors upgraded Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 26th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $41.00 price target on shares of Western Midstream Partners in a report on Monday, December 9th. Finally, UBS Group dropped their price objective on Western Midstream Partners from $40.00 to $37.00 and set a “neutral” rating for the company in a report on Friday, November 15th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $37.88.

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.