Western Midstream Partners, LP $WES Shares Acquired by Catalyst Capital Advisors LLC

Catalyst Capital Advisors LLC boosted its holdings in Western Midstream Partners, LP (NYSE:WES) by 8.6% in the 1st quarter, Holdings Channel reports. The firm owned 401,812 shares of the pipeline company’s stock after purchasing an additional 31,820 shares during the period. Catalyst Capital Advisors LLC’s holdings in Western Midstream Partners were worth $16,543,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Eagle Bay Advisors LLC purchased a new position in Western Midstream Partners during the 4th quarter worth $27,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Western Midstream Partners in the fourth quarter valued at about $27,000. Rothschild Investment LLC raised its holdings in shares of Western Midstream Partners by 76.2% in the fourth quarter. Rothschild Investment LLC now owns 793 shares of the pipeline company’s stock valued at $31,000 after buying an additional 343 shares during the last quarter. Garton & Associates Financial Advisors LLC acquired a new stake in shares of Western Midstream Partners during the fourth quarter worth about $32,000. Finally, Global Wealth Strategies & Associates acquired a new stake in shares of Western Midstream Partners during the fourth quarter worth about $35,000. Institutional investors and hedge funds own 84.82% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on WES shares. Stifel Nicolaus set a $46.00 price target on Western Midstream Partners and gave the company a “buy” rating in a research report on Thursday, May 7th. UBS Group increased their price objective on Western Midstream Partners from $45.00 to $48.00 and gave the stock a “neutral” rating in a research report on Friday, July 10th. Mizuho boosted their target price on Western Midstream Partners from $48.00 to $51.00 and gave the company an “outperform” rating in a report on Tuesday. JPMorgan Chase & Co. upped their price target on Western Midstream Partners from $46.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Wall Street Zen raised Western Midstream Partners from a “hold” rating to a “buy” rating in a report on Sunday, July 12th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Western Midstream Partners currently has an average rating of “Hold” and an average price target of $46.25.

Western Midstream Partners Stock Performance

NYSE WES opened at $46.02 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. The business’s 50 day moving average is $44.48 and its two-hundred day moving average is $42.41. Western Midstream Partners, LP has a 12-month low of $36.90 and a 12-month high of $48.01. The stock has a market capitalization of $18.12 billion, a price-to-earnings ratio of 15.04, a PEG ratio of 1.94 and a beta of 0.68.

Western Midstream Partners (NYSE:WES) last posted its quarterly earnings results on Wednesday, May 6th. The pipeline company reported $0.85 EPS for the quarter, beating the consensus estimate 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 business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same period last year, the firm earned $0.79 EPS. The company’s quarterly revenue was up 22.5% compared to the same quarter last year. Research analysts expect that Western Midstream Partners, LP will post 3.45 EPS for the current year.

Western Midstream Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were given a dividend of $0.93 per share. The ex-dividend date was Friday, May 1st. This is an increase from Western Midstream Partners’s previous quarterly dividend of $0.91. This represents a $3.72 annualized dividend and a yield of 8.1%. Western Midstream Partners’s dividend payout ratio (DPR) is currently 121.57%.

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.