7,642,081 Shares in Western Midstream Partners, LP $WES Acquired by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Western Midstream Partners, LP (NYSE:WES) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 7,642,081 shares of the pipeline company’s stock, valued at approximately $300,257,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 1.87% of Western Midstream Partners at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Jones Financial Companies Lllp grew its stake in shares of Western Midstream Partners by 86.1% in the third quarter. Jones Financial Companies Lllp now owns 908 shares of the pipeline company’s stock worth $36,000 after acquiring an additional 420 shares during the last quarter. MTM Investment Management LLC purchased a new position in shares of Western Midstream Partners in the 2nd quarter worth about $39,000. Allworth Financial LP purchased a new position in shares of Western Midstream Partners in the 2nd quarter worth about $43,000. Mather Group LLC. bought a new position in Western Midstream Partners in the 3rd quarter worth about $49,000. Finally, Larson Financial Group LLC purchased a new stake in Western Midstream Partners during the 3rd quarter valued at about $55,000. 84.82% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Robert G. Phillips purchased 1,250 shares of the stock in a transaction dated Wednesday, March 11th. The shares were purchased at an average cost of $40.19 per share, with a total value of $50,237.50. Following the acquisition, the director directly owned 5,296 shares of the company’s stock, valued at $212,846.24. This represents a 30.89% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Christopher B. Dial sold 5,879 shares of the firm’s stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $42.35, for a total value of $248,975.65. Following the completion of the transaction, the senior vice president owned 185,011 shares in the company, valued at approximately $7,835,215.85. This trade represents a 3.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.04% of the company’s stock.

Western Midstream Partners Price Performance

WES opened at $41.03 on Tuesday. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a market capitalization of $16.15 billion, a P/E ratio of 13.68 and a beta of 0.76. The company’s 50-day simple moving average is $41.39 and its two-hundred day simple moving average is $39.70. Western Midstream Partners, LP has a 52-week low of $33.60 and a 52-week high of $44.74.

Western Midstream Partners (NYSE:WES) last announced its quarterly earnings results on Wednesday, February 18th. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.44). Western Midstream Partners had a net margin of 30.52% and a return on equity of 33.14%. The company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same period in the previous year, the business earned $0.85 EPS. The business’s revenue was up 11.1% compared to the same quarter last year. As a group, analysts predict that Western Midstream Partners, LP will post 4.02 EPS for the current year.

Western Midstream Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Monday, February 2nd were given a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 8.9%. The ex-dividend date of this dividend was Monday, February 2nd. Western Midstream Partners’s payout ratio is 121.33%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on WES shares. Royal Bank Of Canada raised their price objective on shares of Western Midstream Partners from $39.00 to $42.00 and gave the company a “sector perform” rating in a research note on Friday, November 28th. Stifel Nicolaus reduced their price target on shares of Western Midstream Partners from $43.00 to $42.00 and set a “hold” rating for the company in a research report on Friday, February 20th. Wells Fargo & Company boosted their price objective on shares of Western Midstream Partners from $39.00 to $41.00 and gave the stock an “equal weight” rating in a report on Friday. JPMorgan Chase & Co. lowered their price objective on Western Midstream Partners from $44.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, March 12th. Finally, Wall Street Zen downgraded Western Midstream Partners from a “buy” rating to a “hold” rating in a research note on Saturday, December 27th. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Western Midstream Partners presently has an average rating of “Hold” and a consensus price target of $41.71.

About Western Midstream Partners

Western Midstream Partners, LP (NYSE: WES) is a midstream energy infrastructure company that owns, operates and develops an integrated network of crude oil, natural gas and produced water gathering, processing, transportation and storage assets in the United States. The partnership’s primary offerings include pipeline transportation, fractionation services, natural gas liquids (NGL) logistics and produced water handling. Through its fee-based and commodity-based contracts, Western Midstream provides its customers with essential services that support efficient energy production and distribution.

The company’s asset portfolio spans key onshore basins, including the Delaware Basin in West Texas and southeastern New Mexico, the San Juan Basin in New Mexico and Colorado, and the Denver-Julesburg Basin in Colorado.