MGO One Seven LLC Raises Holdings in Western Midstream Partners, LP (NYSE:WES)

MGO One Seven LLC lifted its position in Western Midstream Partners, LP (NYSE:WES) by 11.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 136,739 shares of the pipeline company’s stock after purchasing an additional 13,545 shares during the quarter. MGO One Seven LLC’s holdings in Western Midstream Partners were worth $5,255,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Stifel Financial Corp increased its stake in Western Midstream Partners by 624.5% in the 4th quarter. Stifel Financial Corp now owns 785,096 shares of the pipeline company’s stock worth $30,171,000 after acquiring an additional 676,729 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Western Midstream Partners by 248.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,195 shares of the pipeline company’s stock worth $277,000 after purchasing an additional 5,130 shares during the last quarter. Tortoise Capital Advisors L.L.C. increased its position in Western Midstream Partners by 2.0% in the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 8,064,089 shares of the pipeline company’s stock worth $309,903,000 after purchasing an additional 159,016 shares during the last quarter. First Trust Advisors LP raised its stake in Western Midstream Partners by 18.5% during the fourth quarter. First Trust Advisors LP now owns 618,538 shares of the pipeline company’s stock valued at $23,770,000 after purchasing an additional 96,781 shares in the last quarter. Finally, Evergreen Capital Management LLC lifted its position in Western Midstream Partners by 1.5% during the fourth quarter. Evergreen Capital Management LLC now owns 193,603 shares of the pipeline company’s stock valued at $7,440,000 after purchasing an additional 2,840 shares during the last quarter. 84.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Western Midstream Partners from a “hold” rating to a “buy” rating in a report on Saturday, March 8th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $38.43.

Western Midstream Partners Trading Up 2.9 %

WES stock opened at $37.96 on Wednesday. The firm’s fifty day simple moving average is $39.48 and its two-hundred day simple moving average is $39.40. The stock has a market capitalization of $14.47 billion, a price-to-earnings ratio of 9.68, a price-to-earnings-growth ratio of 1.40 and a beta of 2.40. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.05. Western Midstream Partners, LP has a twelve month low of $33.60 and a twelve month high of $43.33.

Western Midstream Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Friday, May 2nd will be given a $0.91 dividend. This is a positive change from Western Midstream Partners’s previous quarterly dividend of $0.88. This represents a $3.64 dividend on an annualized basis and a yield of 9.59%. The ex-dividend date of this dividend is Friday, May 2nd. Western Midstream Partners’s dividend payout ratio is 86.85%.

About Western Midstream Partners

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.