Western Midstream Partners, LP (NYSE:WES) Short Interest Update

Western Midstream Partners, LP (NYSE:WES) was the target of a significant drop in short interest during the month of December. As of December 15th, there was short interest totalling 5,180,000 shares, a drop of 16.2% from the November 30th total of 6,180,000 shares. Approximately 2.5% of the shares of the stock are short sold. Based on an average trading volume of 1,200,000 shares, the short-interest ratio is currently 4.3 days.

Western Midstream Partners Trading Down 1.1 %

WES traded down $0.42 during midday trading on Tuesday, reaching $38.43. 932,545 shares of the company’s stock traded hands, compared to its average volume of 1,235,863. Western Midstream Partners has a 52 week low of $27.49 and a 52 week high of $42.80. 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 firm has a fifty day moving average of $38.52 and a two-hundred day moving average of $39.01. The stock has a market capitalization of $14.62 billion, a price-to-earnings ratio of 9.80, a P/E/G ratio of 1.08 and a beta of 2.90.

Western Midstream Partners (NYSE:WES) last announced its earnings results on Wednesday, November 6th. The pipeline company reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.09). The business had revenue of $883.36 million for the quarter, compared to the consensus estimate of $924.83 million. Western Midstream Partners had a net margin of 42.99% and a return on equity of 46.02%. Western Midstream Partners’s revenue was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.70 EPS. On average, equities analysts anticipate that Western Midstream Partners will post 4.03 earnings per share for the current fiscal year.

Western Midstream Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were given a $0.875 dividend. The ex-dividend date was Friday, November 1st. This represents a $3.50 annualized dividend and a dividend yield of 9.11%. Western Midstream Partners’s dividend payout ratio is 89.29%.

Hedge Funds Weigh In On Western Midstream Partners

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Farther Finance Advisors LLC boosted its position in Western Midstream Partners by 287.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,437 shares of the pipeline company’s stock valued at $55,000 after acquiring an additional 1,066 shares in the last quarter. EverSource Wealth Advisors LLC purchased a new position in shares of Western Midstream Partners in the 2nd quarter valued at approximately $74,000. Cedar Mountain Advisors LLC boosted its position in shares of Western Midstream Partners by 16.1% during the third quarter. Cedar Mountain Advisors LLC now owns 2,158 shares of the pipeline company’s stock valued at $83,000 after purchasing an additional 299 shares in the last quarter. Millburn Ridgefield Corp purchased a new stake in Western Midstream Partners in the third quarter worth $86,000. Finally, Farmers & Merchants Investments Inc. raised its holdings in Western Midstream Partners by 63.9% in the second quarter. Farmers & Merchants Investments Inc. now owns 2,566 shares of the pipeline company’s stock worth $102,000 after purchasing an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Analyst Ratings Changes

WES has been the subject of a number of recent research reports. Morgan Stanley lowered shares of Western Midstream Partners from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $42.00 to $40.00 in a report on Friday, October 25th. US Capital Advisors raised shares of Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $41.00 price objective on shares of Western Midstream Partners in a report on Monday, December 9th. UBS Group dropped their target price 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. Finally, Bank of America initiated coverage on Western Midstream Partners in a research report on Thursday, October 17th. They set an “underperform” rating and a $37.00 price target on the stock. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Western Midstream Partners presently 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.