WES|Analyst Targets
WES|Company Info
WES|Insider Trading
WES|Fundamentals
WES|Earnings Snapshot
EPS
| Qtr | Est | Actual | +/− |
|---|---|---|---|
| Q4'26 | $0.93 | - | - |
| Q3'26 | $0.92 | $0.74 | -19.2% |
| Q2'26 | $0.92 | $1.00 | +8.8% |
| Q4'25 | $0.86 | $0.47 | -45.4% |
| Q4'24 | $0.88 | $0.88 | -0.0% |
Revenue
| Qtr | Est | Actual | +/− |
|---|---|---|---|
| Q4'26 | $1.2B | - | - |
| Q3'26 | $1.2B | $1.2B | -2.4% |
| Q2'26 | $1.1B | $1.2B | +10.3% |
| Q4'25 | $1.1B | $1.0B | -3.1% |
| Q4'24 | - | $929M | - |
WES|Monthly Returns
Market Data
WES Stock Snapshot
- Market cap
- 17.60B
- P/E ratio
- 13.7
- Day range
- $40.29 – $40.30
- News sentiment
- 62/100 · Bullish
- Analyst target
- $49.54 (+23.0%)
- Consensus
- Hold · 21 analysts
WES's technical picture is constructive, with trend and momentum pointing the same direction. Sector peers are worth watching - large caps in Energy tend to move together on rotation.
Reverse DCF
What growth is priced into WES?
At today's price, Western Midstream Partners, LP needs to grow free cash flow about -6.0% a year for 3 years, slowing to a long-run rate by year 10, to justify its valuation at a 6.59% cost of capital. Over the last five years its revenue has trended at 8.4% a year, so the market is asking for 14.5 percentage points below its own delivered rate. On that basis WES looks priced below what its own growth record supports.
- Implied FCF growth
- -6.0%
- Growth trend
- 8.4%
- Growth gap
- -14.5 pts
- Verdict
- CHEAP
- Discount rate (WACC)
- 6.59%
- Beta
- 0.66
Behaviour On Record
What WES's own history says about today's numbers
- Realized volatility (21d)
- 31.1% 55th pct
- Below its peak
- -35.5%
- vs 200-day average
- -4.5%
- Up days (1y)
- 52%
Western Midstream Partners, LP is currently running 31.1% annualised volatility over the last 21 sessions. Measured against WES's own 13 years of daily returns rather than a market-wide average, that is the 55th percentile — close to its own typical level, against a typical reading of 28.9%.
WES is trading -35.5% below its running peak. Across 13 full years on file, its median worst-drawdown-in-a-year was -24.2%, and the deepest was -85.8% in 2020. The current drawdown is already deeper than this stock's typical annual low point, which puts it in the part of its range where past recoveries began, and where past declines also continued.
Price sits -4.5% from its 200-day moving average. Against every other day in its history, that gap ranks at the 29th percentile — a narrower gap than it typically runs. Over the past year WES closed higher on 52% of sessions, and it is currently 4 sessions into a falling streak.
On November specifically: over 13 years of records, WES finished the month higher 8 of 13 times, with a median return of +0.6% and an average of +4.8%. Its strongest month historically has been April at +14.5% on average, its weakest March at -4.7%.
Overnight risk is measurable too: WES has opened more than 2% away from the prior close in 296 of 3,268 sessions (9.1% of the time), with the largest gaps running +19.1% and -10.5%.
Across the last 3 dated reports on file, WES moved an average of 1.7% in the session after earnings, closing higher 1 of those 3 times, with a median move of -0.8% and a largest of -3.4%.
All figures computed from 3,269 daily closes between 2013-11-06 and 2026-11-05, split-adjusted, recomputed daily. Percentiles are against WES's own 13-year history, not a peer group or index.
Sector Rotation
Is money rotating into or out of WES's sector?
Western Midstream Partners, LP sits in the Industrials sector, currently ranked 8th of 12 GICS sectors by relative-strength rotation score (weakening).
- Sector rank
- #8 of 12
- Sector state
- Weakening
- Sector rotation score
- 27
Analyst Consensus Estimates
What do analysts expect WES to earn?
Analysts expect Western Midstream Partners, LP to earn $3.72 per share in the fiscal year ending Dec 2026 and $4.38 in the fiscal year ending Dec 2028, from 5 estimates. These are analyst forecasts, not company guidance, and later years rest on fewer analysts.
Revenue marked ~ is our calculation from the EPS estimate, not analyst consensus.
Analyst Rating Changes
Are analysts turning bullish or bearish on WES?
Morgan Stanley most recently reiterated its rating on Western Midstream Partners, LP to Equal-Weight on Oct 21, 2026 with a price target of $52 (from $55). Over the last 90 days, coverage has run 0 upgrades against 0 downgrades, a net mixed lean.
- Latest action
- Morgan Stanley: Equal-Weight
- 90-day upgrades
- 0
- 90-day downgrades
- 0
- Net rating momentum
- 0
Earnings Release, Scored
What did Western Midstream Partners, LP's latest earnings release say?
Most important lines
- 1
This represents an increase of more than $250.0 million relative to the $2.600 billion midpoint of our original Adjusted EBITDA guidance range announced in February, or more than $150.0 million above the midpoint excluding the Brazos acquisition.
New this quarter - 2
“With a greater number of wells expected to come online relative to the third quarter, we expect strong fourth-quarter results and anticipate full-year Adjusted EBITDA above the midpoint of our guidance range of $2.750 billion to $2.950 billion.
New this quarter - 3
“We expect this momentum to carry into 2027, with incremental customer activity, a full year of contribution from Brazos, the start-up of the Pathfinder pipeline, North Loving II coming online, and new gathering and processing agreements in the Powder River Basin positioning us for throughput growth across all three product lines again next year.
New this quarter
Peers
WES peers
Oil & Gas MidstreamMarket cap · today
News & sentiment
What is the news saying about WES?
WES fell 12.7% over the month to Nov 5. News tone held between 42 and 81 from Oct 5 to Oct 14, then jumped to 99 on Oct 15.
- Oct 16 +3.3%
- Nov 2 -5.2%same day: Western Midstream Partners LP's Dividend Analysis
- Nov 5 -6.3%same day: Western Midstream Partners, LP Q3 2026 Earnings Call Summary
Technical analysis
How strong is WES's momentum right now?
On the daily chart WES ranks at the 70th percentile for momentum against 1,060 stocks and ETFs, a bullish reading.
Institutional ownership
Are big funds buying or selling WES?
20 of the 56 tracked managers added to WES in their latest 13F and 24 trimmed. Together they own 23.0% of the company, worth $4.4B. Invesco and Morgan Stanley alone hold 10.4%.
- 1Invesco Ltd.5.52%$1.1B positionAdded 0.3% last quarter
- 2Morgan Stanley4.86%$929.1M positionAdded 366.6% last quarter
- 3Blackstone Inc.2.37%$453.7M positionAdded 18.4% last quarter
- $378.0M positionTrimmed 2.6% last quarter
- 5Goldman Sachs Group Inc1.95%$373.2M positionTrimmed 2.6% last quarter
- $270.9M positionTrimmed 1.5% last quarter
- 7UBS Group AG0.82%$156.1M positionTrimmed 4.2% last quarter
- $118.6M positionAdded 3.3% last quarter
- $87.2M positionTrimmed 5.4% last quarter
- 10ING Groep NV0.36%$69.5M positionUnchanged last quarter
Discover more
How has WES done against its peers?
Over the six months to Nov 5, WES returned −6.5%. Of the 15 related stocks and ETFs, 12 did better, led by MPC at +44.8%.
- 1MPCMarathon Petroleum Corporationup 44.8%+51.3 pts
- 2VLOValero Energy Corporationup 39.9%+46.4 pts
- 3PSXPhillips 66up 37.3%+43.8 pts
- 4CVXChevron Corporationup 11.2%+17.7 pts
- 5COPConocoPhillipsup 10.5%+16.9 pts
- 6XOMExxon Mobil Corporationup 7.2%+13.7 pts
- 7XLEEnergy Select Sector SPDR Fundup 4.3%+10.8 pts
- 8CNQCanadian Natural Resources Limitedup 2.5%+9.0 pts
- 13WESThis stockdown 6.5%
- 16OIHVanEck Oil Services ETFdown 21.0%−14.5 pts