Kayne Anderson Capital Advisors LP Cuts Position in Western Midstream Partners, LP $WES

Kayne Anderson Capital Advisors LP lessened its holdings in Western Midstream Partners, LP (NYSE:WES) by 25.1% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,429,135 shares of the pipeline company’s stock after selling 1,146,352 shares during the period. Western Midstream Partners makes up approximately 3.1% of Kayne Anderson Capital Advisors LP’s portfolio, making the stock its 11th biggest holding. Kayne Anderson Capital Advisors LP owned 0.90% of Western Midstream Partners worth $132,708,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Financial Network Wealth Advisors LLC boosted its stake in shares of Western Midstream Partners by 1,856.4% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 763 shares of the pipeline company’s stock worth $31,000 after buying an additional 724 shares during the last quarter. Sound Income Strategies LLC purchased a new position in Western Midstream Partners in the second quarter valued at approximately $39,000. Ameritas Advisory Services LLC purchased a new position in Western Midstream Partners in the second quarter valued at approximately $49,000. Iron Horse Wealth Management LLC purchased a new position in Western Midstream Partners in the second quarter valued at approximately $58,000. Finally, Militia Capital Partners LP purchased a new position in Western Midstream Partners in the first quarter valued at approximately $123,000. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Western Midstream Partners Stock Up 2.4%

WES opened at $38.24 on Thursday. The stock has a market cap of $14.58 billion, a PE ratio of 11.77 and a beta of 1.14. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 2.08. Western Midstream Partners, LP has a 52 week low of $33.60 and a 52 week high of $43.33. The business’s fifty day simple moving average is $38.38 and its 200 day simple moving average is $38.56.

Western Midstream Partners (NYSE:WES) last released its earnings results on Tuesday, November 4th. The pipeline company reported $0.87 EPS for the quarter, meeting analysts’ consensus estimates of $0.87. Western Midstream Partners had a return on equity of 37.70% and a net margin of 34.45%.The business had revenue of $952.48 million for the quarter, compared to analysts’ expectations of $965.55 million. During the same quarter in the prior year, the firm earned $0.74 earnings per share. The firm’s revenue was up 7.8% on a year-over-year basis. As a group, research analysts expect that Western Midstream Partners, LP will post 4.02 earnings per share for the current fiscal year.

Western Midstream Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 9.5%. The ex-dividend date is Friday, October 31st. Western Midstream Partners’s dividend payout ratio is currently 107.69%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on WES shares. Citigroup began coverage on Western Midstream Partners in a research note on Monday, October 20th. They issued a “neutral” rating and a $39.00 price objective on the stock. Morgan Stanley lowered their target price on shares of Western Midstream Partners from $41.00 to $39.00 and set an “underweight” rating on the stock in a report on Tuesday, August 26th. Royal Bank Of Canada boosted their target price on shares of Western Midstream Partners from $38.00 to $39.00 and gave the company a “sector perform” rating in a report on Tuesday, August 26th. Finally, Mizuho upped their price target on shares of Western Midstream Partners from $44.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, August 29th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Western Midstream Partners currently has a consensus rating of “Hold” and a consensus price target of $40.00.

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.