Short Interest in Western Midstream Partners, LP (NYSE:WES) Drops By 25.1%

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

Hedge Funds Weigh In On Western Midstream Partners

Institutional investors have recently modified their holdings of the company. Apollon Wealth Management LLC increased its stake in Western Midstream Partners by 1.2% during the 4th quarter. Apollon Wealth Management LLC now owns 25,691 shares of the pipeline company’s stock valued at $987,000 after purchasing an additional 295 shares in the last quarter. Integrated Wealth Concepts LLC grew its holdings in shares of Western Midstream Partners by 4.7% during the fourth quarter. Integrated Wealth Concepts LLC now owns 6,833 shares of the pipeline company’s stock valued at $263,000 after buying an additional 306 shares during the last quarter. Virtus ETF Advisers LLC increased its position in shares of Western Midstream Partners by 7.3% during the fourth quarter. Virtus ETF Advisers LLC now owns 4,564 shares of the pipeline company’s stock worth $175,000 after acquiring an additional 311 shares in the last quarter. RE Dickinson Investment Advisors LLC raised its holdings in shares of Western Midstream Partners by 21.8% in the 4th quarter. RE Dickinson Investment Advisors LLC now owns 2,168 shares of the pipeline company’s stock worth $83,000 after acquiring an additional 388 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its position in Western Midstream Partners by 34.7% in the 4th quarter. Farther Finance Advisors LLC now owns 1,935 shares of the pipeline company’s stock valued at $74,000 after acquiring an additional 498 shares in the last quarter. 84.82% of the stock is owned by institutional investors and hedge funds.

Western Midstream Partners Stock Up 0.0 %

Shares of WES traded up $0.00 during trading hours on Tuesday, hitting $40.96. The stock had a trading volume of 774,766 shares, compared to its average volume of 1,224,983. Western Midstream Partners has a 1-year low of $33.64 and a 1-year high of $43.33. The firm has a market capitalization of $15.62 billion, a P/E ratio of 10.45, a price-to-earnings-growth ratio of 1.40 and a beta of 2.88. The firm has a 50 day simple moving average of $40.79 and a 200-day simple moving average of $39.60. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were issued a dividend of $0.875 per share. The ex-dividend date was Monday, February 3rd. This represents a $3.50 annualized dividend and a dividend yield of 8.54%. Western Midstream Partners’s dividend payout ratio is 86.85%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on WES shares. Royal Bank of Canada restated a “sector perform” rating and issued a $41.00 target price on shares of Western Midstream Partners in a report on Monday, December 9th. StockNews.com upgraded Western Midstream Partners from a “hold” rating to a “buy” rating in a research report on Saturday, March 8th. Two 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. Based on data from MarketBeat, Western Midstream Partners currently has an average rating of “Hold” and a consensus price target of $38.43.

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.