Symbols / WES Stock $41.04 -0.17% Western Midstream Partners, LP

Energy • Oil & Gas Midstream • United States • NYQ
WES (Stock) Chart
O: — H: — L: — C: — V: —
SMA 20: — SMA 50: — SMA 200: —
Stock Fundamentals
Scroll to Statements
Index EQUITY
Sector Energy
Industry Oil & Gas Midstream
CEO Mr. Oscar K. Brown
Exch · Country NYQ · United States
Market Cap 16.74B
Enterprise Value 24.30B
Income 1.15B
Sales 3.84B
FCF (ttm) 794.36M
Book/sh 9.84
Cash/sh 2.08
Employees 1,704
Insider 10d —
IPO Dec 10, 2012
Div forward ($/yr)
Div TTM ($/yr)
Dividend Yield
Ex-Div Date
5Y Avg Yield
Yield vs 5Y Avg
Payout 120.97%
P/E 13.77
Forward P/E 11.05
PEG —
P/S 4.36
P/B 4.17
P/C —
EV/EBITDA 10.69
EV/Sales 6.32
Quick Ratio 1.30
Current Ratio 1.34
Debt/Eq 211.85
LT Debt/Eq —
EPS (ttm) 2.98
EPS next Y 3.72
EPS Growth -45.20%
Revenue Growth 11.10%
EPS Gr Q/Q -42.60%
Rev Gr Q/Q —
Earnings (next) 2026-05-06
Earnings (prior) 2026-02-18
ROA 6.85%
ROE 32.17%
ROIC —
Gross Margin 70.78%
Oper. Margin 28.09%
Profit Margin 30.04%
Shs Outstand 393.67M
Shs Float 242.46M
Insider Own 38.44%
Instit Own 42.77%
Short Float 3.20%
Short Ratio 6.52
Short Interest 7.75M
52W High 44.74
vs 52W High -8.27%
52W Low 35.25
vs 52W Low 16.43%
Beta 0.70
Impl. Vol. 0.10%
Rel Volume 0.59
Avg Volume 1.48M
Volume 874.84K
Target (mean) $41.92
Tgt Median $41.00
Tgt Low $38.00
Tgt High $49.00
# Analysts 12
Recom Hold
Prev Close $41.11
Price $41.04
Change -0.17%
About

Western Midstream Partners, LP, together with its subsidiaries, operates as a midstream energy company primarily in the United States. The company 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 of produced water. It also buys and sells residue, NGLs, and condensates. The company operates assets located in Texas, New Mexico, and the Rocky Mountains. It also provides water handling solutions. The company was formerly known as Western Gas Equity Partners, LP and changed its name to Western Midstream Partners, LP in February 2019. Western Midstream Partners, LP was incorporated in 2007 and is based in The Woodlands, Texas.

Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$41.92
Mean price target
2. Current target
$41.04
Latest analyst target
3. DCF / Fair value
$36.32
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$41.04
Low
$38.00
High
$49.00
Mean
$41.92

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-03-13 main Wells Fargo Equal-Weight → Equal-Weight $41
2026-03-12 main JP Morgan Neutral → Neutral $43
2026-02-20 main Stifel Hold → Hold $42
2026-01-22 main Wells Fargo Equal-Weight → Equal-Weight $39
2025-11-28 main RBC Capital Sector Perform → Sector Perform $42
2025-11-13 main Wells Fargo Equal-Weight → Equal-Weight $40
2025-08-29 main Mizuho Outperform → Outperform $46
2025-08-26 main Morgan Stanley Underweight → Underweight $39
2025-08-26 main RBC Capital Sector Perform → Sector Perform $39
2025-05-20 main Mizuho Outperform → Outperform $44
2024-12-09 reit RBC Capital Sector Perform → Sector Perform $41
2024-11-15 main UBS Neutral → Neutral $37
2024-10-25 down Morgan Stanley Equal-Weight → Underweight $40
2024-08-09 main Stifel Hold → Hold $40
2024-07-10 down Stifel Buy → Hold $39
2024-05-21 main Wells Fargo Equal-Weight → Equal-Weight $35
2024-05-07 main Mizuho Buy → Buy $39
2024-04-18 up Wolfe Research Underperform → Peer Perform —
2024-03-19 down Raymond James Outperform → Market Perform —
2024-03-11 main RBC Capital Sector Perform → Sector Perform $34
News
RSS: Latest WES news
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2026-03-11 PHILLIPS ROBERT G Director — 1,250 $40.19 $50,238
2026-02-12 STEWART LISA A. Director — 3,843 — —
2026-02-12 PHILLIPS ROBERT G Director — 4,046 — —
2026-02-12 SCHULTE DAVID J Director — 3,843 — —
2026-02-12 OWEN KENNETH F Director — 3,843 — —
2026-02-12 BROWN OSCAR K Chief Executive Officer — 24,022 — —
2026-02-12 GREEN CATHERINE A. Officer — 63,315 — —
2026-02-12 DIAL CHRISTOPHER B General Counsel — 5,879 $42.35 $248,976
2026-02-12 DIAL CHRISTOPHER B General Counsel — 91,788 — —
2026-02-12 SHULTS KRISTEN S. Chief Financial Officer — 91,788 — —
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Revenue
3,843.40
+6.61%
3,605.22
+16.06%
3,106.48
-4.47%
3,251.72
Operating Revenue
3,841.60
+6.59%
3,604.14
+16.06%
3,105.51
-4.47%
3,250.77
Cost Of Revenue
917.76
+11.56%
822.68
+7.50%
765.27
-23.72%
1,003.26
Reconciled Cost Of Revenue
917.76
+11.56%
822.68
+7.50%
765.27
-23.72%
1,003.26
Gross Profit
2,925.65
+5.14%
2,782.54
+18.85%
2,341.21
+4.13%
2,248.46
Operating Expense
1,384.16
+13.94%
1,214.76
+15.51%
1,051.62
+13.43%
927.14
Selling General And Administration
398.92
+46.92%
271.53
+16.72%
232.63
+19.90%
194.02
General And Administrative Expense
398.92
+46.92%
271.53
+16.72%
232.63
+19.90%
194.02
Other Gand A
398.92
+46.92%
271.53
+16.72%
232.63
+19.90%
194.02
Total Expenses
2,301.92
+12.98%
2,037.44
+12.14%
1,816.89
-5.88%
1,930.41
Operating Income
1,541.49
-1.68%
1,567.78
+21.57%
1,289.59
-2.40%
1,321.31
Total Operating Income As Reported
1,601.40
-18.74%
1,970.73
+42.85%
1,379.56
-13.12%
1,587.89
EBITDA
2,317.81
-12.37%
2,645.00
+32.16%
2,001.29
-7.34%
2,159.74
Normalized EBITDA
2,343.68
-0.23%
2,349.03
+14.65%
2,048.90
-1.33%
2,076.55
Reconciled Depreciation
710.78
+9.28%
650.43
+8.28%
600.67
+3.14%
582.37
EBIT
1,607.03
-19.43%
1,994.57
+42.41%
1,400.62
-11.21%
1,577.37
Total Unusual Items
-25.87
-108.74%
295.97
+721.68%
-47.61
-157.23%
83.18
Total Unusual Items Excluding Goodwill
-25.87
-108.74%
295.97
+721.68%
-47.61
-157.23%
83.18
Special Income Charges
-25.87
-108.74%
295.97
+721.68%
-47.61
-157.23%
83.18
Other Special Charges
—
-5.40
+64.87%
-15.38
-16798.90%
-0.09
Impairment Of Capital Assets
14.76
+137.83%
6.21
-88.26%
52.88
+156.91%
20.59
Net Income
1,180.98
-24.95%
1,573.57
+53.94%
1,022.22
-16.01%
1,217.10
Pretax Income
1,227.54
-24.66%
1,629.36
+54.82%
1,052.39
-16.19%
1,255.64
Net Non Operating Interest Income Expense
-390.49
-3.16%
-378.51
-8.70%
-348.23
-4.28%
-333.94
Interest Expense Non Operating
379.49
+3.91%
365.21
+4.88%
348.23
+8.24%
321.73
Net Interest Income
-390.49
-3.16%
-378.51
-8.70%
-348.23
-4.28%
-333.94
Interest Expense
379.49
+3.91%
365.21
+4.88%
348.23
+8.24%
321.73
Interest Income Non Operating
—
—
—
0.00
Interest Income
—
—
—
0.00
Other Income Expense
76.54
-82.61%
440.09
+296.37%
111.03
-58.61%
268.27
Other Non Operating Income Expenses
16.63
-47.61%
31.74
+458.92%
5.68
+254.27%
1.60
Gain On Sale Of Business
-11.11
-103.74%
296.77
+3037.75%
-10.10
-109.74%
103.68
Tax Provision
15.09
-16.70%
18.11
+313.02%
4.38
+4.73%
4.19
Tax Rate For Calcs
0.00
+0.00%
0.00
+139.98%
0.00
+24.95%
0.00
Tax Effect Of Unusual Items
-0.26
-108.74%
2.96
+1592.01%
-0.20
-171.52%
0.28
Net Income Including Noncontrolling Interests
1,212.45
-24.75%
1,611.25
+53.74%
1,048.01
-16.26%
1,251.46
Net Income From Continuing Operation Net Minority Interest
1,180.98
-24.95%
1,573.57
+53.94%
1,022.22
-16.01%
1,217.10
Net Income From Continuing And Discontinued Operation
1,180.98
-24.95%
1,573.57
+53.94%
1,022.22
-16.01%
1,217.10
Net Income Continuous Operations
1,212.45
-24.75%
1,611.25
+53.74%
1,048.01
-16.26%
1,251.46
Minority Interests
-31.47
+16.48%
-37.68
-46.10%
-25.79
+24.92%
-34.35
Normalized Income
1,206.60
-5.78%
1,280.56
+19.72%
1,069.63
-5.69%
1,134.20
Net Income Common Stockholders
1,154.50
-24.88%
1,536.97
+53.92%
998.53
-16.06%
1,189.56
Otherunder Preferred Stock Dividend
—
—
—
—
Diluted EPS
—
4.02
+54.62%
2.60
-13.33%
3.00
Basic EPS
—
4.04
+54.79%
2.61
-13.29%
3.01
Basic Average Shares
—
380.40
-0.69%
383.03
-3.02%
394.95
Diluted Average Shares
—
382.45
-0.51%
384.41
-2.99%
396.24
Diluted NI Availto Com Stockholders
1,154.50
-24.88%
1,536.97
+53.92%
998.53
-16.06%
1,189.56
Earnings From Equity Interest
85.79
-23.67%
112.39
-26.53%
152.96
-16.64%
183.48
Other Taxes
69.34
+10.65%
62.67
+11.00%
56.46
-28.13%
78.56
Preferred Stock Dividends
26.48
-27.64%
36.60
+54.55%
23.68
-14.00%
27.54
Total Other Finance Cost
11.00
-17.32%
13.30
+7.34%
12.39
+1.50%
12.21
Line Item Trend 2023-12-31
Total Assets
12,471.61
Current Assets
992.41
Cash Cash Equivalents And Short Term Investments
272.79
Cash And Cash Equivalents
272.79
Receivables
681.29
Accounts Receivable
665.89
Other Receivables
5.80
Inventory
2.56
Prepaid Assets
21.07
Other Current Assets
14.71
Total Non Current Assets
11,479.20
Net PPE
9,655.02
Gross PPE
14,945.43
Accumulated Depreciation
-5,290.41
Construction In Progress
479.37
Other Properties
14,466.06
Goodwill And Other Intangible Assets
686.19
Goodwill
4.78
Other Intangible Assets
681.41
Investments And Advances
904.53
Long Term Equity Investment
904.53
Other Non Current Assets
233.46
Total Liabilities Net Minority Interest
9,442.48
Current Liabilities
1,304.06
Payables And Accrued Expenses
645.09
Payables
426.64
Accounts Payable
362.45
Current Accrued Expenses
218.44
Total Tax Payable
64.19
Income Tax Payable
2.91
Current Debt And Capital Lease Obligation
629.01
Current Debt
610.31
Other Current Borrowings
—
Current Capital Lease Obligation
18.70
Current Deferred Liabilities
16.87
Current Deferred Revenue
16.87
Total Non Current Liabilities Net Minority Interest
8,138.42
Long Term Debt And Capital Lease Obligation
7,283.56
Long Term Debt
7,254.89
Long Term Capital Lease Obligation
28.67
Long Term Provisions
359.19
Non Current Deferred Liabilities
15.47
Non Current Deferred Taxes Liabilities
15.47
Other Non Current Liabilities
480.21
Stockholders Equity
0.00
Common Stock Equity
2,897.42
Share Issued
379.52
Ordinary Shares Number
379.52
Treasury Shares Number
0.00
Minority Interest
131.71
Total Equity Gross Minority Interest
3,029.13
Total Capitalization
10,152.31
Working Capital
-311.65
Invested Capital
10,762.62
Total Debt
7,912.56
Net Debt
7,592.41
Capital Lease Obligations
47.36
Net Tangible Assets
-686.19
Tangible Book Value
2,211.23
Commercial Paper
610.31
Current Notes Payable
—
Current Provisions
13.10
General Partnership Capital
3.19
Interest Payable
124.94
Limited Partnership Capital
2,894.23
Other Inventories
2.56
Total Partnership Capital
2,897.42
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Operating Cash Flow
2,222.62
+4.01%
2,136.86
+28.62%
1,661.33
-1.94%
1,694.13
Cash Flow From Continuing Operating Activities
2,222.62
+4.01%
2,136.86
+28.62%
1,661.33
-1.94%
1,694.13
Net Income From Continuing Operations
1,212.45
-24.75%
1,611.25
+53.74%
1,048.01
-16.43%
1,254.07
Depreciation Amortization Depletion
710.78
+9.28%
650.43
+8.28%
600.67
+3.14%
582.37
Depreciation And Amortization
710.78
+9.28%
650.43
+8.28%
600.67
+3.14%
582.37
Other Non Cash Items
7.25
-23.59%
9.49
+10.39%
8.59
+12.30%
7.65
Stock Based Compensation
50.80
+33.71%
37.99
+18.71%
32.01
+17.61%
27.21
Asset Impairment Charge
14.76
+137.83%
6.21
-88.26%
52.88
+156.91%
20.59
Deferred Tax
3.94
-72.25%
14.21
+1261.21%
1.04
-47.77%
2.00
Deferred Income Tax
3.94
-72.25%
14.21
+1261.21%
1.04
-47.77%
2.00
Operating Gains Losses
-74.67
+81.99%
-414.56
-161.99%
-158.24
+44.91%
-287.25
Change In Working Capital
206.34
+86.81%
110.46
+240.17%
-78.80
+20.13%
-98.66
Change In Receivables
36.02
+184.16%
-42.80
+45.37%
-78.35
+32.63%
-116.30
Changes In Account Receivables
36.02
+184.16%
-42.80
+45.37%
-78.35
+32.63%
-116.30
Change In Payables And Accrued Expense
-3.97
+81.91%
-21.93
+67.75%
-68.02
-295.71%
-17.19
Change In Other Working Capital
174.29
-0.51%
175.19
+159.29%
67.56
+94.00%
34.83
Investing Cash Flow
-1,085.21
-2670.64%
-39.17
+97.56%
-1,607.29
-636.49%
-218.24
Cash Flow From Continuing Investing Activities
-1,085.21
-2670.64%
-39.17
+97.56%
-1,607.29
-636.49%
-218.24
Capital Expenditure
-727.99
+12.70%
-833.86
-13.44%
-735.08
-50.87%
-487.23
Capital Expenditure Reported
-727.99
+12.70%
-833.86
-13.44%
-735.08
-50.87%
-487.23
Net Business Purchase And Sale
-368.64
-3537.99%
-10.13
+98.85%
-878.90
-1666.31%
-49.76
Purchase Of Business
-368.64
-3537.99%
-10.13
+98.85%
-878.90
-1666.31%
-49.76
Gain Loss On Sale Of Business
11.11
+103.74%
-296.77
-3037.75%
10.10
+109.74%
-103.68
Net Other Investing Changes
-19.97
-102.58%
773.97
+2487.62%
-32.42
-112.72%
254.85
Financing Cash Flow
-1,408.39
-10.03%
-1,280.02
-1784.81%
-67.91
+95.10%
-1,385.39
Cash Flow From Continuing Financing Activities
-1,408.39
-10.03%
-1,280.02
-1784.81%
-67.91
+95.10%
-1,385.39
Net Issuance Payments Of Debt
103.70
+197.31%
34.88
-96.80%
1,090.72
+942.01%
-129.54
Issuance Of Debt
1,184.29
+50.09%
789.04
-74.20%
3,058.65
+120.20%
1,389.01
Repayment Of Debt
-1,080.59
-43.28%
-754.16
+61.68%
-1,967.93
-29.59%
-1,518.55
Long Term Debt Issuance
1,184.29
+50.09%
789.04
-67.78%
2,448.73
+76.29%
1,389.01
Long Term Debt Payments
-1,080.59
-651.18%
-143.85
+92.69%
-1,967.93
-29.59%
-1,518.55
Net Long Term Debt Issuance
103.70
-83.93%
645.19
+34.19%
480.81
+471.17%
-129.54
Short Term Debt Issuance
0.00
—
609.92
0.00
Short Term Debt Payments
—
-610.31
—
—
Net Short Term Debt Issuance
0.00
+100.00%
-610.31
-200.07%
609.92
0.00
Net Common Stock Issuance
0.00
0.00
+100.00%
-134.60
+72.39%
-487.59
Common Stock Payments
0.00
0.00
+100.00%
-134.60
+72.39%
-487.59
Common Stock Dividend Paid
-1,431.02
-14.84%
-1,246.07
-27.35%
-978.43
+21.38%
-1,244.53
Cash Dividends Paid
-1,431.02
-14.84%
-1,246.07
-27.35%
-978.43
+21.38%
-1,244.53
Repurchase Of Capital Stock
0.00
0.00
+100.00%
-134.60
+72.39%
-487.59
Net Other Financing Charges
-81.07
-17.79%
-68.83
-50.93%
-45.60
-302.76%
-11.32
Changes In Cash
-270.97
-133.14%
817.68
+5995.72%
-13.87
-115.32%
90.50
Beginning Cash Position
1,090.46
+299.75%
272.79
-4.84%
286.66
+46.55%
195.60
End Cash Position
819.49
-24.85%
1,090.46
+299.75%
272.79
-4.65%
286.10
Free Cash Flow
1,494.63
+14.71%
1,303.00
+40.67%
926.25
-23.25%
1,206.90
Interest Paid Supplemental Data
380.98
+5.58%
360.85
+10.37%
326.95
-8.00%
355.36
Income Tax Paid Supplemental Data
3.11
+39.64%
2.23
-46.14%
4.13
+352.96%
0.91
Dividend Received CFO
90.97
-18.33%
111.39
-28.22%
155.17
-16.64%
186.15
Dividends Received CFI
31.39
+1.75%
30.85
-21.11%
39.10
-38.80%
63.90
Earnings Losses From Equity Investments
-85.79
+23.67%
-112.39
+26.53%
-152.96
+16.64%
-183.48
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

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