Miller Howard Investments Inc. NY Acquires 93,543 Shares of Western Midstream Partners, LP $WES

Miller Howard Investments Inc. NY lifted its holdings in Western Midstream Partners, LP (NYSE:WES) by 6.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,584,975 shares of the pipeline company’s stock after acquiring an additional 93,543 shares during the period. Western Midstream Partners accounts for approximately 1.8% of Miller Howard Investments Inc. NY’s holdings, making the stock its 15th biggest holding. Miller Howard Investments Inc. NY owned 0.40% of Western Midstream Partners worth $65,253,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WES. Eagle Bay Advisors LLC bought a new stake in Western Midstream Partners during the fourth quarter worth approximately $27,000. Northwestern Mutual Wealth Management Co. purchased a new stake in Western Midstream Partners during the fourth quarter valued at approximately $27,000. Rothschild Investment LLC lifted its stake in shares of Western Midstream Partners by 76.2% in the 4th quarter. Rothschild Investment LLC now owns 793 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 343 shares during the last quarter. Garton & Associates Financial Advisors LLC bought a new stake in shares of Western Midstream Partners in the 4th quarter valued at approximately $32,000. Finally, Global Wealth Strategies & Associates purchased a new position in shares of Western Midstream Partners in the 4th quarter worth approximately $35,000. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on WES. JPMorgan Chase & Co. cut their target price 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. Wall Street Zen upgraded Western Midstream Partners from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Wells Fargo & Company boosted their price objective on shares of Western Midstream Partners from $41.00 to $43.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 13th. Citigroup increased their target price on shares of Western Midstream Partners from $39.00 to $42.00 and gave the company a “neutral” rating in a research note on Tuesday, May 12th. Finally, Stifel Nicolaus set a $46.00 target price on shares of Western Midstream Partners and gave the stock a “buy” rating in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $45.00.

Western Midstream Partners Trading Up 1.4%

WES opened at $43.58 on Wednesday. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.09 and a current ratio of 1.09. The stock’s 50 day moving average price is $43.44 and its 200-day moving average price is $41.80. Western Midstream Partners, LP has a one year low of $36.90 and a one year high of $48.01. The stock has a market cap of $17.16 billion, a price-to-earnings ratio of 14.24, a P/E/G ratio of 1.81 and a beta of 0.68.

Western Midstream Partners (NYSE:WES) last issued its quarterly earnings results on Wednesday, May 6th. The pipeline company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.11. Western Midstream Partners had a return on equity of 33.89% and a net margin of 29.98%.The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the company earned $0.79 EPS. Western Midstream Partners’s quarterly revenue was up 22.5% compared to the same quarter last year. On average, equities analysts forecast that Western Midstream Partners, LP will post 3.44 EPS for the current year.

Western Midstream Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were paid a $0.93 dividend. The ex-dividend date was Friday, May 1st. This is a positive change from Western Midstream Partners’s previous quarterly dividend of $0.91. This represents a $3.72 dividend on an annualized basis and a yield of 8.5%. Western Midstream Partners’s payout ratio is 121.57%.

Western Midstream Partners Profile

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.