Western Midstream Partners, LP (NYSE:WES) Stock Holdings Lifted by Tortoise Capital Advisors L.L.C.

Tortoise Capital Advisors L.L.C. raised its stake in shares of Western Midstream Partners, LP (NYSE:WES) by 2.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,064,089 shares of the pipeline company’s stock after purchasing an additional 159,016 shares during the period. Western Midstream Partners accounts for 4.0% of Tortoise Capital Advisors L.L.C.’s holdings, making the stock its 9th biggest position. Tortoise Capital Advisors L.L.C. owned about 2.12% of Western Midstream Partners worth $309,903,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Virtu Financial LLC purchased a new stake in Western Midstream Partners during the 3rd quarter valued at about $409,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Western Midstream Partners in the third quarter valued at approximately $166,000. Tidal Investments LLC lifted its position in Western Midstream Partners by 26.4% during the third quarter. Tidal Investments LLC now owns 13,796 shares of the pipeline company’s stock worth $528,000 after buying an additional 2,879 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Western Midstream Partners by 60.1% during the third quarter. JPMorgan Chase & Co. now owns 1,785,105 shares of the pipeline company’s stock worth $68,298,000 after buying an additional 670,440 shares during the last quarter. Finally, Chickasaw Capital Management LLC grew its holdings in Western Midstream Partners by 1.5% in the 4th 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 in the last quarter. Institutional investors and hedge funds own 84.82% of the company’s stock.

Western Midstream Partners Stock Performance

Shares of WES stock opened at $38.10 on Friday. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market cap of $14.53 billion, a P/E ratio of 9.72, a P/E/G ratio of 1.40 and a beta of 2.40. The firm’s 50 day moving average price is $39.59 and its 200-day moving average price is $39.42. Western Midstream Partners, LP has a one year low of $33.60 and a one year high of $43.33.

Western Midstream Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were given 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 dividend yield of 9.19%. Western Midstream Partners’s dividend payout ratio is currently 86.85%.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Western Midstream Partners from a “hold” rating to a “buy” rating in a report on Saturday, March 8th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average 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.