Catalyst Capital Advisors LLC Has $14.62 Million Stock Holdings in Western Midstream Partners, LP $WES

Key Points

• Catalyst Capital Advisors cut its stake in Western Midstream Partners by 20.4% in Q4, selling 94,848 shares and ending with 369,992 shares worth about $14.62 million.
• Western Midstream reported strong quarterly results, with EPS of $0.85 beating estimates and revenue of $1.12 billion topping expectations, while revenue rose 22.5% year over year.
• The company also raised its quarterly dividend to $0.93 per share, implying an annualized yield of 8.7%, though its payout ratio is high at 121.57%.

Catalyst Capital Advisors LLC cut its holdings in Western Midstream Partners, LP (NYSE:WES - Free Report) by 20.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 369,992 shares of the pipeline company's stock after selling 94,848 shares during the quarter. Catalyst Capital Advisors LLC owned approximately 0.09% of Western Midstream Partners worth $14,615,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WES. Geode Capital Management LLC increased its stake in shares of Western Midstream Partners by 6.4% in the second quarter. Geode Capital Management LLC now owns 8,525 shares of the pipeline company's stock valued at $330,000 after buying an additional 512 shares in the last quarter. Creative Planning increased its stake in shares of Western Midstream Partners by 17.0% in the second quarter. Creative Planning now owns 6,878 shares of the pipeline company's stock valued at $266,000 after buying an additional 999 shares in the last quarter. Guggenheim Capital LLC increased its stake in shares of Western Midstream Partners by 6.0% in the second quarter. Guggenheim Capital LLC now owns 23,029 shares of the pipeline company's stock valued at $891,000 after buying an additional 1,298 shares in the last quarter. Cerity Partners LLC increased its stake in shares of Western Midstream Partners by 39.1% in the second quarter. Cerity Partners LLC now owns 25,003 shares of the pipeline company's stock valued at $968,000 after buying an additional 7,032 shares in the last quarter. Finally, NewEdge Advisors LLC acquired a new stake in shares of Western Midstream Partners in the second quarter valued at $2,172,000. 84.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Western Midstream Partners

In other Western Midstream Partners news, Director Robert G. Phillips acquired 1,250 shares of the business's stock in a transaction dated Wednesday, March 11th. The shares were acquired at an average price of $40.19 per share, for a total transaction of $50,237.50. Following the acquisition, the director directly owned 5,296 shares of the company's stock, valued at approximately $212,846.24. This trade represents a 30.89% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.04% of the stock is owned by company insiders.

Western Midstream Partners Price Performance

Shares of WES opened at $42.80 on Friday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.34. Western Midstream Partners, LP has a 1 year low of $36.90 and a 1 year high of $48.01. The stock has a market cap of $16.85 billion, a P/E ratio of 13.99, a price-to-earnings-growth ratio of 1.87 and a beta of 0.70. The stock's 50-day moving average price is $42.63 and its two-hundred day moving average price is $41.21.

Western Midstream Partners (NYSE:WES - Get Free Report) last issued its earnings results on Wednesday, May 6th. The pipeline company reported $0.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.74 by $0.11. Western Midstream Partners had a return on equity of 33.89% and a net margin of 29.98%.The firm had revenue of $1.12 billion for the quarter, compared to analysts' expectations of $1.01 billion. During the same quarter last year, the business earned $0.79 earnings per share. The company's revenue was up 22.5% compared to the same quarter last year. On average, equities analysts predict that Western Midstream Partners, LP will post 3.41 earnings per share for the current year.

Western Midstream Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were issued a dividend of $0.93 per share. This is a boost from Western Midstream Partners's previous quarterly dividend of $0.91. The ex-dividend date was Friday, May 1st. This represents a $3.72 annualized dividend and a dividend yield of 8.7%. Western Midstream Partners's dividend payout ratio (DPR) is presently 121.57%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Stifel Nicolaus set a $46.00 price target on Western Midstream Partners and gave the company a "buy" rating in a report on Thursday, May 7th. UBS Group raised their price target on Western Midstream Partners from $40.00 to $45.00 and gave the company a "neutral" rating in a report on Thursday, May 21st. JPMorgan Chase & Co. decreased their price target on Western Midstream Partners from $44.00 to $43.00 and set a "neutral" rating on the stock in a report on Thursday, March 12th. Morgan Stanley raised their price target on Western Midstream Partners from $41.00 to $51.00 and gave the company an "underweight" rating in a report on Wednesday. Finally, Wells Fargo & Company raised their price target on Western Midstream Partners from $41.00 to $43.00 and gave the company an "equal weight" rating in a report on Wednesday, May 13th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $44.75.

About Western Midstream Partners

Western Midstream Partners, LP NYSE: WES is a midstream energy infrastructure company that owns, operates and develops an integrated network of crude oil, natural gas and produced water gathering, processing, transportation and storage assets in the United States. The partnership's primary offerings include pipeline transportation, fractionation services, natural gas liquids (NGL) logistics and produced water handling. Through its fee-based and commodity-based contracts, Western Midstream provides its customers with essential services that support efficient energy production and distribution.

The company's asset portfolio spans key onshore basins, including the Delaware Basin in West Texas and southeastern New Mexico, the San Juan Basin in New Mexico and Colorado, and the Denver-Julesburg Basin in Colorado.

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