Kingstone Capital Partners Texas LLC Invests $156.97 Million in Western Midstream Partners, LP $WES

Key Points

• Kingstone Capital Partners Texas LLC invested approximately $156.97 million in Western Midstream Partners, acquiring nearly 4 million shares, which represents about 1.05% ownership of the company.
• Western Midstream Partners has reported earnings of $0.87 per share for the latest quarter, exceeding analysts' expectations, and has announced a quarterly dividend of $0.91 per share, resulting in a yield of 9.5%.
• The company's stock price recently opened at $38.30, with a 52-week range between $33.60 and $43.33; its market cap stands at $14.60 billion, and it has a P/E ratio of 11.78.

Kingstone Capital Partners Texas LLC bought a new stake in shares of Western Midstream Partners, LP (NYSE:WES - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,994,189 shares of the pipeline company's stock, valued at approximately $156,967,000. Kingstone Capital Partners Texas LLC owned about 1.05% of Western Midstream Partners at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in WES. Princeton Global Asset Management LLC grew its position in shares of Western Midstream Partners by 133.3% in the first quarter. Princeton Global Asset Management LLC now owns 700 shares of the pipeline company's stock valued at $29,000 after purchasing an additional 400 shares in the last quarter. Financial Network Wealth Advisors LLC grew its position in Western Midstream Partners by 1,856.4% in the first quarter. Financial Network Wealth Advisors LLC now owns 763 shares of the pipeline company's stock worth $31,000 after acquiring an additional 724 shares in the last quarter. Bessemer Group Inc. purchased a new position in Western Midstream Partners in the first quarter worth $41,000. Creative Financial Designs Inc. ADV purchased a new position in Western Midstream Partners in the first quarter worth $72,000. Finally, Militia Capital Partners LP purchased a new position in Western Midstream Partners in the first quarter worth $123,000. Hedge funds and other institutional investors own 84.82% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on WES shares. Mizuho lifted their target price on shares of Western Midstream Partners from $44.00 to $46.00 and gave the stock an "outperform" rating in a research report on Friday, August 29th. Royal Bank Of Canada lifted 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 report on Tuesday, August 26th. Finally, Morgan Stanley reduced their price objective on shares of Western Midstream Partners from $41.00 to $39.00 and set an "underweight" rating on the stock in a research report on Tuesday, August 26th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Reduce" and an average price target of $39.60.

Western Midstream Partners Trading Up 0.5%

Shares of NYSE WES traded up $0.18 during trading on Tuesday, reaching $38.49. The stock had a trading volume of 313,202 shares, compared to its average volume of 1,176,240. The company has a market cap of $14.68 billion, a P/E ratio of 11.84 and a beta of 1.18. 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, LP has a fifty-two week low of $33.60 and a fifty-two week high of $43.33. The business's 50-day moving average price is $39.00 and its 200-day moving average price is $38.77.

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

Western Midstream Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Friday, August 1st were issued a $0.91 dividend. The ex-dividend date of this dividend was Friday, August 1st. This represents a $3.64 annualized dividend and a yield of 9.5%. Western Midstream Partners's dividend payout ratio is 112.00%.

About Western Midstream Partners

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.