Western Midstream Partners, LP (NYSE:WES) Short Interest Up 46.3% in January

Western Midstream Partners, LP (NYSE:WES) was the target of a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 7,460,000 shares, an increase of 46.3% from the January 15th total of 5,100,000 shares. Currently, 3.6% of the company’s stock are short sold. Based on an average daily trading volume, of 1,370,000 shares, the days-to-cover ratio is presently 5.4 days.

Western Midstream Partners Stock Performance

Shares of NYSE WES traded up $0.07 during midday trading on Friday, hitting $40.57. 1,067,835 shares of the company’s stock were exchanged, compared to its average volume of 1,413,380. 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 has a 12 month low of $28.07 and a 12 month high of $43.33. The company’s 50 day moving average price is $40.18 and its 200 day moving average price is $39.09. The firm has a market capitalization of $15.44 billion, a PE ratio of 10.35, a price-to-earnings-growth ratio of 1.36 and a beta of 2.88.

Western Midstream Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were paid a $0.875 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $3.50 annualized dividend and a yield of 8.63%. Western Midstream Partners’s dividend payout ratio (DPR) is presently 89.29%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Morgan Stanley lowered Western Midstream Partners from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $42.00 to $40.00 in a research report on Friday, October 25th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $41.00 price target on shares of Western Midstream Partners in a research report on Monday, December 9th. UBS Group lowered their price target on Western Midstream Partners from $40.00 to $37.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. StockNews.com lowered Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 28th. Finally, US Capital Advisors raised Western Midstream Partners from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 26th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $37.88.

Institutional Trading of Western Midstream Partners

Institutional investors have recently added to or reduced their stakes in the company. Harbour Investments Inc. lifted its position in shares of Western Midstream Partners by 555.6% during the 4th quarter. Harbour Investments Inc. now owns 1,180 shares of the pipeline company’s stock valued at $45,000 after acquiring an additional 1,000 shares during the period. Global Retirement Partners LLC acquired a new position in shares of Western Midstream Partners during the 4th quarter worth $51,000. Empowered Funds LLC acquired a new position in shares of Western Midstream Partners during the 4th quarter worth $53,000. Farther Finance Advisors LLC raised its holdings in shares of Western Midstream Partners by 287.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,437 shares of the pipeline company’s stock worth $55,000 after buying an additional 1,066 shares in the last quarter. Finally, Kieckhefer Group LLC acquired a new position in shares of Western Midstream Partners during the 4th quarter worth $58,000. 84.82% of the stock is currently owned by institutional investors.

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.