Western Midstream Partners, LP (NYSE:WES) Shares Sold by Kayne Anderson Capital Advisors LP

Kayne Anderson Capital Advisors LP lessened its holdings in shares of Western Midstream Partners, LP (NYSE:WES - Free Report) by 0.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 4,575,487 shares of the pipeline company's stock after selling 15,099 shares during the period. Western Midstream Partners makes up approximately 4.1% of Kayne Anderson Capital Advisors LP's holdings, making the stock its 10th largest position. Kayne Anderson Capital Advisors LP owned 1.20% of Western Midstream Partners worth $187,412,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Princeton Global Asset Management LLC raised its holdings in shares of Western Midstream Partners by 133.3% in the 1st quarter. Princeton Global Asset Management LLC now owns 700 shares of the pipeline company's stock worth $29,000 after buying an additional 400 shares in the last quarter. Bessemer Group Inc. bought a new position in shares of Western Midstream Partners in the 1st quarter worth $41,000. Cary Street Partners Financial LLC bought a new position in shares of Western Midstream Partners in the 4th quarter worth $39,000. Harbour Investments Inc. boosted its position in shares of Western Midstream Partners by 555.6% in the 4th quarter. Harbour Investments Inc. now owns 1,180 shares of the pipeline company's stock worth $45,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV acquired a new stake in Western Midstream Partners during the 1st quarter worth $72,000. Institutional investors and hedge funds own 84.82% of the company's stock.

Western Midstream Partners Stock Up 1.3%

Shares of WES traded up $0.51 during midday trading on Thursday, hitting $40.52. The stock had a trading volume of 297,447 shares, compared to its average volume of 1,149,595. The company has a 50 day simple moving average of $38.77 and a two-hundred day simple moving average of $39.33. Western Midstream Partners, LP has a twelve month low of $33.60 and a twelve month high of $43.33. The firm has a market cap of $15.45 billion, a price-to-earnings ratio of 12.10 and a beta of 1.08. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.18 and a quick ratio of 1.18.

Western Midstream Partners (NYSE:WES - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The pipeline company reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.04). Western Midstream Partners had a net margin of 35.79% and a return on equity of 38.52%. The company had revenue of $917.12 million during the quarter, compared to the consensus estimate of $926.55 million. During the same quarter in the previous year, the business earned $1.47 EPS. Western Midstream Partners's revenue was up 3.3% on a year-over-year basis. On average, analysts anticipate that Western Midstream Partners, LP will post 4.02 EPS for the current year.

Western Midstream Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Friday, August 1st will be issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 8.98%. The ex-dividend date is Friday, August 1st. Western Midstream Partners's payout ratio is currently 108.66%.

Analyst Ratings Changes

Separately, Mizuho dropped their price objective on Western Midstream Partners from $45.00 to $44.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 20th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $39.83.

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.