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

Western Midstream Partners, LP (NYSE:WES) saw a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 4,480,000 shares, a decline of 25.1% from the February 28th total of 5,980,000 shares. Approximately 2.1% of the company’s shares are sold short. Based on an average trading volume of 1,300,000 shares, the days-to-cover ratio is presently 3.4 days.

Hedge Funds Weigh In On Western Midstream Partners

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC lifted its holdings in Western Midstream Partners by 29.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 42,294 shares of the pipeline company’s stock worth $1,625,000 after buying an additional 9,506 shares during the period. Novem Group purchased a new stake in shares of Western Midstream Partners during the 4th quarter worth $695,000. State of Wyoming boosted its position in Western Midstream Partners by 40.6% during the fourth quarter. State of Wyoming now owns 3,323 shares of the pipeline company’s stock valued at $128,000 after purchasing an additional 960 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Western Midstream Partners by 23.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,273,186 shares of the pipeline company’s stock valued at $279,509,000 after purchasing an additional 1,366,341 shares during the last quarter. Finally, Eagle Global Advisors LLC raised its holdings in Western Midstream Partners by 23.2% in the fourth quarter. Eagle Global Advisors LLC now owns 2,434,080 shares of the pipeline company’s stock worth $93,542,000 after purchasing an additional 458,111 shares in the last quarter. 84.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $41.00 target price on shares of Western Midstream Partners in a research note on Monday, December 9th. StockNews.com raised shares of Western Midstream Partners from a “hold” rating to a “buy” rating in a research note on Saturday, March 8th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $38.43.

Western Midstream Partners Stock Performance

WES stock opened at $41.49 on Friday. Western Midstream Partners has a 1-year low of $33.64 and a 1-year high of $43.33. The business has a 50-day moving average price of $40.84 and a 200 day moving average price of $39.56. The company has a market capitalization of $15.82 billion, a P/E ratio of 10.58, a PEG ratio of 1.40 and a beta of 2.88. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.11 and a quick ratio of 1.11.

Western Midstream Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were issued a $0.875 dividend. The ex-dividend date was Monday, February 3rd. This represents a $3.50 annualized dividend and a dividend yield of 8.44%. Western Midstream Partners’s dividend payout ratio is currently 86.85%.

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.