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

Kingstone Capital Partners Texas LLC purchased a new position in shares of Western Midstream Partners, LP (NYSE:WES) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 3,994,189 shares of the pipeline company’s stock, valued at approximately $156,967,000.

Other large investors also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. increased its stake in shares of Western Midstream Partners by 10.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 26,483 shares of the pipeline company’s stock worth $1,085,000 after purchasing an additional 2,485 shares during the last quarter. Catalyst Capital Advisors LLC increased its stake in shares of Western Midstream Partners by 30.6% during the 1st quarter. Catalyst Capital Advisors LLC now owns 461,365 shares of the pipeline company’s stock worth $18,898,000 after purchasing an additional 108,021 shares during the last quarter. CFM Wealth Partners LLC increased its stake in shares of Western Midstream Partners by 28.3% during the 1st quarter. CFM Wealth Partners LLC now owns 44,944 shares of the pipeline company’s stock worth $1,841,000 after purchasing an additional 9,904 shares during the last quarter. Bessemer Group Inc. purchased a new position in Western Midstream Partners in the 1st quarter valued at approximately $41,000. Finally, Inscription Capital LLC purchased a new position in Western Midstream Partners in the 1st quarter valued at approximately $462,000. Hedge funds and other institutional investors own 84.82% of the company’s stock.

Analyst Upgrades and Downgrades

WES has been the subject of a number of recent research reports. Mizuho lifted their price objective on shares of Western Midstream Partners from $44.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, August 29th. Morgan Stanley reduced their price objective on shares of Western Midstream Partners from $41.00 to $39.00 and set an “underweight” rating for the company in a research note on Tuesday, August 26th. Finally, Royal Bank Of Canada lifted their price objective on shares of Western Midstream Partners from $38.00 to $39.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 26th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Western Midstream Partners has a consensus rating of “Reduce” and an average target price of $39.60.

Western Midstream Partners Stock Down 0.6%

WES opened at $38.30 on Friday. The company has a fifty day moving average price of $39.04 and a 200-day moving average price of $38.76. The firm has a market capitalization of $14.60 billion, a P/E ratio of 11.78 and a beta of 1.17. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.30 and a quick ratio of 1.30. Western Midstream Partners, LP has a one year low of $33.60 and a one year high of $43.33.

Western Midstream Partners (NYSE:WES) last released its quarterly earnings results on Wednesday, August 6th. The pipeline company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.05. The firm had revenue of $942.32 million during 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%. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.97 EPS. Equities research analysts expect that Western Midstream Partners, LP will post 4.02 earnings per share for the current fiscal year.

Western Midstream Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 1st were given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 9.5%. The ex-dividend date was Friday, August 1st. Western Midstream Partners’s payout ratio is 112.00%.

Western Midstream Partners 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.