Kayne Anderson Capital Advisors LP Cuts Holdings in Western Midstream Partners, LP (NYSE:WES)

Kayne Anderson Capital Advisors LP trimmed its holdings in shares of Western Midstream Partners, LP (NYSE:WES - Free Report) by 11.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,270,114 shares of the pipeline company's stock after selling 429,260 shares during the period. Western Midstream Partners comprises 3.0% of Kayne Anderson Capital Advisors LP's investment portfolio, making the stock its 11th largest position. Kayne Anderson Capital Advisors LP owned 0.86% of Western Midstream Partners worth $95,684,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of WES. Larson Financial Group LLC acquired a new position in Western Midstream Partners during the 3rd quarter worth approximately $27,000. Fortitude Family Office LLC purchased a new position in shares of Western Midstream Partners in the fourth quarter valued at $43,000. UMB Bank n.a. purchased a new position in shares of Western Midstream Partners in the fourth quarter valued at $74,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Western Midstream Partners during the 4th quarter valued at $80,000. Finally, CENTRAL TRUST Co increased its stake in Western Midstream Partners by 518.4% during the 4th quarter. CENTRAL TRUST Co now owns 4,205 shares of the pipeline company's stock worth $123,000 after buying an additional 3,525 shares during the period. 42.94% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on WES shares. Stifel Nicolaus raised their target price on Western Midstream Partners from $35.00 to $36.00 and gave the company a "buy" rating in a research note on Friday, February 23rd. Raymond James restated a "market perform" rating on shares of Western Midstream Partners in a report on Tuesday, March 19th. Wolfe Research upgraded Western Midstream Partners from an "underperform" rating to a "peer perform" rating in a research note on Thursday, April 18th. Mizuho lifted their price target on shares of Western Midstream Partners from $34.00 to $39.00 and gave the stock a "buy" rating in a research note on Tuesday. Finally, Citigroup downgraded shares of Western Midstream Partners from a "buy" rating to a "neutral" rating and increased their price objective for the company from $30.00 to $34.00 in a research note on Thursday, February 29th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, Western Midstream Partners has a consensus rating of "Hold" and a consensus target price of $31.09.

Western Midstream Partners Stock Performance

Shares of NYSE WES traded up $0.92 during midday trading on Thursday, hitting $36.42. The company's stock had a trading volume of 2,190,968 shares, compared to its average volume of 1,254,831. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.76 and a current ratio of 0.76. Western Midstream Partners, LP has a 1-year low of $25.04 and a 1-year high of $36.79. The firm's fifty day moving average price is $35.02 and its 200-day moving average price is $30.89. The firm has a market cap of $13.86 billion, a P/E ratio of 14.01 and a beta of 2.82.

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

Western Midstream Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be paid a dividend of $0.875 per share. This is an increase from Western Midstream Partners's previous quarterly dividend of $0.58. This represents a $3.50 dividend on an annualized basis and a yield of 9.61%. The ex-dividend date is Tuesday, April 30th. Western Midstream Partners's dividend payout ratio is presently 134.62%.

Insiders Place Their Bets

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

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.