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Western Midstream Partners, LP (WES)

39.85 -2.69 (-6.32%)
At close: November 5 at 4:00:03 PM EST
39.95 +0.15 (+0.37%)
Pre-Market: 9:02:42 AM EST
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WES Q3 2026 earnings call
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16m ago
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Western Midstream reported strong operating volumes in the third quarter, supported by acquisitions, produced-water growth, and cost reductions. Management raised confidence in full-year adjusted EBITDA, while maintaining its $0.93-per-unit quarterly distributionand planning significant Delaware Basin investment.

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  • Previous Close 42.54
  • Open 42.60
  • Bid 39.79 x 60000
  • Ask 43.55 x 40000
  • Day's Range 39.75 - 42.67
  • 52 Week Range 37.75 - 50.07
  • Volume 4,839,956
  • Avg. Volume 1,096,770
  • Market Cap (intraday) 16.467B
  • Beta (5Y Monthly) 0.71
  • PE Ratio (TTM) 12.98
  • EPS (TTM) 3.07
  • Earnings Date Nov 4, 2026
  • Forward Dividend & Yield 3.72 (8.74%)
  • 1y Target Est 49.54
  • Zacks Rating Neutral

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.

www.westernmidstream.com

1,704

Full Time Employees

December 31

Fiscal Year Ends

Energy

Sector

Recent News

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Performance Overview

Trailing total returns as of 11/5/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC) .

YTD Return

WES
9.71%
S&P 500 (^GSPC)
7.42%

1-Year Return

WES
13.29%
S&P 500 (^GSPC)
8.20%

3-Year Return

WES
80.98%
S&P 500 (^GSPC)
68.73%

5-Year Return

WES
182.60%
S&P 500 (^GSPC)
56.54%

Earnings Trends

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Earnings Per Share

GAAP
Normalized
GAAP
Normalized

Revenue vs. Earnings

Annual
Quarterly
Annual
Quarterly
Q3 FY26
Revenue 1.19B
Earnings 324.78M
Profit Margin 27.20%

Q4

FY25

Q1

FY26

Q2

FY26

Q3

FY26

0
200M
400M
600M
800M
1B
1B
20.0%
25.0%
30.0%

Analyst Insights

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Analyst Price Targets

41.00
49.54 Average
39.85 Current
59.00 High

Analyst Recommendations

  • Strong Buy
  • Buy
  • Hold
  • Underperform
  • Sell

Latest Rating

Date 10/21/2026
Analyst Morgan Stanley
Rating Action Maintains
Rating Equal-Weight
Price Action Lowers
Price Target 55 -> 52

Statistics

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Valuation Measures

Annual
  • Market Cap

  • Enterprise Value

  • Trailing P/E

  • Forward P/E

  • PEG Ratio (current)

  • Price/Sales (ttm)

  • Price/Book (mrq)

  • Enterprise Value/Revenue

  • Enterprise Value/EBITDA

Financial Highlights

Profitability and Income Statement

  • Profit Margin

    29.00%

  • Return on Assets (ttm)

    7.49%

  • Return on Equity (ttm)

    34.11%

  • Revenue (ttm)

    4.33B

  • Net Income Avi to Common (ttm)

    1.26B

  • Diluted EPS (ttm)

    3.07

Balance Sheet and Cash Flow

  • Total Cash (mrq)

    104.77M

  • Total Debt/Equity (mrq)

    207.38%

  • Levered Free Cash Flow (ttm)

    866.98M

Company Insights

Research Reports

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