Catalyst Capital Advisors LLC Acquires 11,055 Shares of Western Midstream Partners, LP $WES

Key Points

• Catalyst Capital Advisors LLC has increased its stake in Western Midstream Partners, LP by 2.4%, acquiring an additional 11,055 shares, bringing its total ownership to approximately 472,420 shares worth $18.3 million.
• Several institutional investors have also boosted their positions in Western Midstream Partners, with a significant increase reported by Stephens Inc. AR, who raised their holding by 215.4% during the second quarter.
• Analysts' price targets for Western Midstream Partners vary, with Royal Bank of Canada raising their target to $39.00, while Mizuho increased theirs to $46.00, indicating a diverse outlook on the company’s stock performance.

Catalyst Capital Advisors LLC increased its stake in Western Midstream Partners, LP (NYSE:WES - Free Report) by 2.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 472,420 shares of the pipeline company's stock after buying an additional 11,055 shares during the quarter. Catalyst Capital Advisors LLC owned approximately 0.12% of Western Midstream Partners worth $18,283,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cornerstone Management Inc. bought a new position in Western Midstream Partners during the second quarter worth about $740,000. Brookstone Capital Management increased its position in Western Midstream Partners by 10.7% during the 2nd quarter. Brookstone Capital Management now owns 12,457 shares of the pipeline company's stock worth $482,000 after purchasing an additional 1,208 shares in the last quarter. D.A. Davidson & CO. boosted its holdings in shares of Western Midstream Partners by 17.1% during the 2nd quarter. D.A. Davidson & CO. now owns 68,044 shares of the pipeline company's stock valued at $2,633,000 after acquiring an additional 9,945 shares in the last quarter. Stephens Inc. AR boosted its position in Western Midstream Partners by 215.4% during the 2nd quarter. Stephens Inc. AR now owns 131,361 shares of the pipeline company's stock worth $5,084,000 after buying an additional 89,707 shares during the period. Finally, Chicago Partners Investment Group LLC increased its stake in shares of Western Midstream Partners by 2.6% in the second quarter. Chicago Partners Investment Group LLC now owns 22,598 shares of the pipeline company's stock valued at $904,000 after buying an additional 573 shares during the period. 84.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Western Midstream Partners Price Performance

Shares of NYSE WES opened at $38.97 on Friday. The company has a market capitalization of $14.86 billion, a price-to-earnings ratio of 11.99 and a beta of 1.12. The company has a 50 day simple moving average of $38.41 and a two-hundred day simple moving average of $38.45. Western Midstream Partners, LP has a fifty-two week low of $33.60 and a fifty-two week high of $43.33. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.30 and a current ratio of 1.30.

Western Midstream Partners (NYSE:WES - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The pipeline company reported $0.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.82 by $0.05. Western Midstream Partners had a net margin of 34.45% and a return on equity of 37.70%. The firm had revenue of $942.32 million for the quarter, compared to the consensus estimate of $954.17 million. During the same quarter last year, the firm posted $0.97 EPS. The business's quarterly revenue was up 4.1% compared to the same quarter last year. Analysts expect that Western Midstream Partners, LP will post 4.02 EPS for the current fiscal year.

Western Midstream Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be given a dividend of $0.91 per share. The ex-dividend date of this dividend is Friday, October 31st. This represents a $3.64 annualized dividend and a dividend yield of 9.3%. Western Midstream Partners's payout ratio is currently 112.00%.

Western Midstream Partners 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.

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