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

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

Hedge Funds Weigh In On Western Midstream Partners

A number of institutional investors have recently bought and sold shares of WES. Cary Street Partners Financial LLC acquired a new stake in shares of Western Midstream Partners in the fourth quarter worth $39,000. Harbour Investments Inc. boosted its holdings in Western Midstream Partners by 555.6% in the fourth quarter. Harbour Investments Inc. now owns 1,180 shares of the pipeline company’s stock valued at $45,000 after purchasing an additional 1,000 shares during the last quarter. Global Retirement Partners LLC acquired a new stake in Western Midstream Partners during the 4th quarter worth about $51,000. Empowered Funds LLC acquired a new position in shares of Western Midstream Partners in the 4th quarter valued at about $53,000. Finally, Kieckhefer Group LLC purchased a new stake in shares of Western Midstream Partners in the fourth quarter worth about $58,000. 84.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WES has been the subject of several recent analyst reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $41.00 price target on shares of Western Midstream Partners in a report on Monday, December 9th. StockNews.com raised shares of Western Midstream Partners from a “hold” rating to a “buy” rating in a research report on Saturday, March 8th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $38.43.

Western Midstream Partners Stock Up 1.1 %

Shares of WES stock opened at $41.49 on Friday. Western Midstream Partners has a fifty-two week low of $33.64 and a fifty-two week high of $43.33. The firm has a market capitalization of $15.82 billion, a PE ratio of 10.58, a P/E/G ratio of 1.40 and a beta of 2.88. 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 stock’s 50-day simple moving average is $40.84 and its 200-day simple moving average is $39.56.

Western Midstream Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors 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 yield of 8.44%. Western Midstream Partners’s dividend payout ratio (DPR) is presently 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.