Kayne Anderson Capital Advisors LP Has $95.68 Million Position in Western Midstream Partners, LP (NYSE:WES)

Kayne Anderson Capital Advisors LP lessened its holdings in Western Midstream Partners, LP (NYSE:WES) by 11.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,270,114 shares of the pipeline company’s stock after selling 429,260 shares during the quarter. Western Midstream Partners accounts for approximately 3.0% of Kayne Anderson Capital Advisors LP’s holdings, making the stock its 11th biggest holding. Kayne Anderson Capital Advisors LP owned approximately 0.86% of Western Midstream Partners worth $95,684,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in WES. Apollon Wealth Management LLC increased its stake in Western Midstream Partners by 11.6% in the fourth quarter. Apollon Wealth Management LLC now owns 25,633 shares of the pipeline company’s stock valued at $750,000 after acquiring an additional 2,664 shares during the period. Summit Trail Advisors LLC acquired a new stake in Western Midstream Partners during the fourth quarter valued at approximately $208,000. Axxcess Wealth Management LLC grew its stake in shares of Western Midstream Partners by 26.2% in the 4th quarter. Axxcess Wealth Management LLC now owns 15,300 shares of the pipeline company’s stock valued at $448,000 after purchasing an additional 3,174 shares during the period. Van ECK Associates Corp raised its holdings in shares of Western Midstream Partners by 104.4% in the 4th quarter. Van ECK Associates Corp now owns 58,015 shares of the pipeline company’s stock worth $1,698,000 after buying an additional 29,637 shares in the last quarter. Finally, Jennison Associates LLC lifted its position in shares of Western Midstream Partners by 13.3% during the 4th quarter. Jennison Associates LLC now owns 983,685 shares of the pipeline company’s stock worth $28,783,000 after buying an additional 115,336 shares during the period. Institutional investors and hedge funds own 42.94% of the company’s stock.

Western Midstream Partners Trading Up 2.0 %

NYSE:WES traded up $0.70 during trading hours on Thursday, hitting $36.20. 349,697 shares of the stock were exchanged, compared to its average volume of 1,233,598. The company’s 50 day moving average is $34.96 and its two-hundred day moving average is $30.86. The company has a market capitalization of $13.77 billion, a P/E ratio of 13.65 and a beta of 2.82. Western Midstream Partners, LP has a twelve month low of $25.04 and a twelve month high of $36.79. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 2.40.

Western Midstream Partners (NYSE:WES) last issued its quarterly earnings results on Wednesday, May 8th. The pipeline company reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.62. The business had revenue of $887.73 million for the quarter, compared to analyst estimates of $868.22 million. Western Midstream Partners had a return on equity of 33.58% and a net margin of 32.72%. The firm’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.52 earnings per share. On average, sell-side analysts anticipate that Western Midstream Partners, LP will post 3.42 earnings per share for the current fiscal year.

Western Midstream Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be given a dividend of $0.875 per share. This is a boost from Western Midstream Partners’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $3.50 annualized dividend and a dividend yield of 9.67%. Western Midstream Partners’s payout ratio is currently 134.62%.

Analysts Set New Price Targets

A number of analysts have weighed in on WES shares. Wolfe Research upgraded Western Midstream Partners from an “underperform” rating to a “peer perform” rating in a research report on Thursday, April 18th. Raymond James reiterated a “market perform” rating on shares of Western Midstream Partners in a research report on Tuesday, March 19th. Stifel Nicolaus boosted their price target on shares of Western Midstream Partners from $35.00 to $36.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Citigroup lowered shares of Western Midstream Partners from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $30.00 to $34.00 in a report on Thursday, February 29th. Finally, Mizuho boosted their target price on Western Midstream Partners from $34.00 to $39.00 and gave the stock a “buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $31.09.

Insider Buying and Selling

In other Western Midstream Partners news, Director Lisa A. Stewart acquired 2,500 shares of Western Midstream Partners stock in a transaction on Wednesday, March 6th. The shares were purchased at an average cost of $34.87 per share, with a total value of $87,175.00. Following the completion of the purchase, the director now owns 30,730 shares in the company, valued at $1,071,555.10. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Lisa A. Stewart purchased 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were acquired at an average cost of $34.87 per share, for a total transaction of $87,175.00. Following the transaction, the director now directly owns 30,730 shares of the company’s stock, valued at approximately $1,071,555.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kenneth F. Owen purchased 7,000 shares of Western Midstream Partners stock in a transaction dated Monday, February 26th. The shares were purchased at an average cost of $33.96 per share, for a total transaction of $237,720.00. Following the completion of the transaction, the director now owns 32,730 shares of the company’s stock, valued at $1,111,510.80. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by insiders.

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.