Western Midstream Partners LP WES Stock Analysis
- NYSE
- Stock
- Market closed · opens Monday 9:30 AM ET
$39.86 up $0.01, 0.03% on Nov 6
Last price · Previous close $39.85
- Market cap
- At the last price
- P/E ratio
- 12.98On last 12 months’ EPS
- Diluted EPS
- $3.07Last 12 months
- Dividend yield
- 9.28%Last 12 months
Price chart
$39.86up $0.01, 0.03%Fri, Nov 6 session
Use the left and right arrow keys to move along the chart.
Price data
Trading
- Previous close$39.85Nov 5
- Volume4.84MNov 5 session
Shares traded on all US exchanges in the last completed session. Live intraday volume covers IEX only, so it is left out.
- Avg. volume1.63MLast 21 sessions
The average daily shares traded over the last 21 trading sessions, about one calendar month.
- 52-week range: $38.44 to $50.07; now $39.86
The lowest and highest trades over the past 52 weeks, adjusted for splits. The marker shows the latest price.
Member SIPC.Low CommissionsLearn More (opens in a new tab)Sponsored. Affiliate link: I may earn a commission. The inclusion of Interactive Brokers’ (IBKR) name, logo or weblink is present pursuant to an advertising arrangement only. IBKR is not a contributor, reviewer, provider or sponsor of content published on this site, and is not responsible for the accuracy of any products or services discussed.
Performance
Past performance, measured to the last price. Total return includes reinvested dividends.Price change only, without dividends. Compared with the S&P 500, using SPY.
WES beat the S&P 500 in 4 of 7 periods.
| Period | WES and S&P 500 | vs S&P 500 |
|---|---|---|
| Short term | ||
| 1M | WES: down 11.9% S&P 500: down 5.6% | WES trailed the S&P 500 by 6.3 percentage points Trailed |
| 3M | WES: down 13.3% S&P 500: down 4.1% | WES trailed the S&P 500 by 9.2 percentage points Trailed |
| YTD | WES: up 9.8% S&P 500: up 8.7% | WES beat the S&P 500 by 1.1 percentage points Beat |
| 1Y | WES: up 12.6% S&P 500: up 10.9% | WES beat the S&P 500 by 1.7 percentage points Beat |
| Long term | ||
| 3Y | WES: up 84.1% S&P 500: up 75.0% +22.6% vs +20.5% a year | WES beat the S&P 500 by 9.1 percentage points Beat |
| 5Y | WES: up 183.4% S&P 500: up 67.8% +23.2% vs +10.9% a year | WES beat the S&P 500 by 115.6 percentage points Beat |
| 10Y | WES: up 120.1% S&P 500: up 313.1% +8.2% vs +15.2% a year | WES trailed the S&P 500 by 193.0 percentage points Trailed |
$10,000 invested in WES 10 years ago (Nov 4, 2016) would be worth about $22,015 as of , with dividends reinvested. The same amount in the S&P 500 would be worth about $41,313.
WES beat the S&P 500 in 1 of 7 periods.
| Period | WES and S&P 500 | vs S&P 500 |
|---|---|---|
| Short term | ||
| 1M | WES: down 13.7% S&P 500: down 5.6% | WES trailed the S&P 500 by 8.1 percentage points Trailed |
| 3M | WES: down 15.1% S&P 500: down 4.3% | WES trailed the S&P 500 by 10.8 percentage points Trailed |
| YTD | WES: up 0.9% S&P 500: up 7.8% | WES trailed the S&P 500 by 6.9 percentage points Trailed |
| 1Y | WES: up 3.5% S&P 500: up 9.7% | WES trailed the S&P 500 by 6.2 percentage points Trailed |
| Long term | ||
| 3Y | WES: up 40.7% S&P 500: up 68.8% +12.1% vs +19.1% a year | WES trailed the S&P 500 by 28.1 percentage points Trailed |
| 5Y | WES: up 84.4% S&P 500: up 56.9% +13.0% vs +9.4% a year | WES beat the S&P 500 by 27.5 percentage points Beat |
| 10Y | WES: down 4.9% S&P 500: up 252.6% −0.5% vs +13.4% a year | WES trailed the S&P 500 by 257.5 percentage points Trailed |
$10,000 invested in WES 10 years ago (Nov 4, 2016) would be worth about $9,513 as of , not counting dividends. The same amount in the S&P 500 would be worth about $35,257.
All-time high
$65.51
Closing high on . Now 39.2% below that record.
Split-adjusted daily closes since Dec 10, 2012.
Stock splits
WES hasn’t split since its price history begins in 2012.
Valuation
Financials
Reported results, not forecasts. From company filings via Tiingo; the latest report is Q3 FY26, the quarter ended Sep 30, 2026. “Last 12 months” means the four quarters from Oct 1, 2025 to Sep 30, 2026, and balance-sheet figures are as of Sep 30, 2026.
Revenue and net income
Last 12 months, with the change from the 12 months before
- Revenue
- $4.57Bup 22.3%
- Net income
- $1.28Bdown 3.6%
- Diluted EPS
- $3.07down 9.2%
Data table
| Period | Revenue | Net income | Diluted EPS |
|---|---|---|---|
| Q4 FY24 (Dec 31, 2024) | $928.50M | $333.61M | $0.85 |
| Q1 FY25 (Mar 31, 2025) | $917.12M | $309.01M | $0.79 |
| Q2 FY25 (Jun 30, 2025) | $942.32M | $341.68M | $0.87 |
| Q3 FY25 (Sep 30, 2025) | $952.48M | $339.62M | $0.87 |
| Q4 FY25 (Dec 31, 2025) | $1.03B | $190.68M | $0.45 |
| Q1 FY26 (Mar 31, 2026) | $1.12B | $350.28M | $0.85 |
| Q2 FY26 (Jun 30, 2026) | $1.22B | $403.55M | $0.99 |
| Q3 FY26 (Sep 30, 2026) | $1.19B | $331.91M | $0.78 |
| Period | Revenue | Net income | Diluted EPS |
|---|---|---|---|
| FY21 (Dec 31, 2021) | $2.88B | $916.29M | $2.18 |
| FY22 (Dec 31, 2022) | $3.25B | $1.22B | $3.00 |
| FY23 (Dec 31, 2023) | $3.11B | $1.02B | $2.60 |
| FY24 (Dec 31, 2024) | $3.61B | $1.57B | $4.02 |
| FY25 (Dec 31, 2025) | $3.84B | $1.18B | $2.98 |
Margins
- Gross 67.1%
- Operating 37.3%
- Net 27.9%
The percentages above the chart cover the last 12 months; the lines show each quarter. What margins tell you
Cash flow
- $1.10BLast 12 months
Cash from operations minus capital spending: the cash left after the business maintains and grows its assets.
FCF = Operating cash flow − Capital spendingFree cash flow - Operating cash flow$2.13BLast 12 months
- Capital spending$1.03BLast 12 months
- 24.0%Last 12 months
Free cash flow as a share of revenue, both over the last 12 months.
Shareholder returns
- $0.00Last 12 months
Cash spent repurchasing shares, net of shares issued. Buybacks shrink the share count, so each remaining share owns more of the company.
- Dividends paid$1.53BLast 12 months
- Total returned$1.53BLast 12 months
139% of free cash flow
Balance sheet
- $557.39MAs of Sep 30, 2026
Cash plus short- and long-term marketable securities on the Sep 30, 2026 balance sheet.
- Total debt$9.15BAs of Sep 30, 2026
- Net debt$8.60BAs of Sep 30, 2026
- 0.81As of Sep 30, 2026
Current assets divided by current liabilities on the Sep 30, 2026 balance sheet. Above 1 means short-term assets cover the bills due within a year.
Current ratio = Current assets ÷ Current liabilitiesCurrent ratio - 2.18As of Sep 30, 2026
Total debt divided by shareholders’ equity on the Sep 30, 2026 balance sheet: a measure of financial leverage.
D/E = Total debt ÷ Shareholders’ equityDebt-to-equity ratio
Financial strength
- 5 of 9Last 12 months
vs the 12 beforeA 0–9 checklist from accounting professor Joseph Piotroski. Each test compares the last 12 months with the 12 months before and scores a point if it passes. 8–9 is strong; 0–2 is weak.
- ✓Net income was positive: passed
- ✓Operating cash flow was positive: passed
- ✓Return on assets improved: passed
- ✓Operating cash flow exceeded net income: passed
- ✗Long-term debt fell relative to assets: not passed
- ✗Current ratio improved: not passed
- ✗Share count didn’t rise: not passed
- ✗Gross margin improved: not passed
- ✓Asset turnover (revenue ÷ assets) improved: passed
- 32.2%Last 12 months
Over the last 12 months, Western Midstream Partners LP’s net income was 32.2% of its shareholders’ equity (averaged over the last four quarter-ends). It describes the past year, not an expected return.
ROE = Net income (last 12 months) ÷ Average equityReturn on equity - 8.1%Last 12 months
Over the last 12 months, Western Midstream Partners LP’s net income was 8.1% of its total assets (averaged over the last four quarter-ends): what the business earned on everything it owns.
ROA = Net income (last 12 months) ÷ Average total assets
Dividends
Cash dividends per share by ex-dividend year, adjusted for splits.
Dividends per share
Data table
| Year | Per share |
|---|---|
| 2016 | $1.71 |
| 2017 | $2.02 |
| 2018 | $2.30 |
| 2019 | $2.45 |
| 2020 | $1.56 |
| 2021 | $1.27 |
| 2022 | $1.83 |
| 2023 | $2.49 |
| 2024 | $3.20 |
| 2025 | $3.61 |
| 2026 (to date) | $3.70 |
Dividend details
- $3.70Per share, last 12 months
Cash dividends per share with ex-dividend dates in the last 12 months.
- Dividend yield9.28%Last 12 months
- $0.93Ex-dividend
The most recent payment per share. Shares bought on or after the ex-dividend date don’t receive it.
- FrequencyQuarterly4 payments in the last 12 months
- up 18.3% a yearFull years 2020–2025
The compound annual growth rate of the full-year dividend per share from 2020 to 2025.
- 4 yearsThrough 2025
How many calendar years in a row the full-year amount has risen, through 2025.
- 120.5%Last 12 months
The share of earnings paid out as dividends over the last 12 months. Lower ratios leave more room to reinvest or raise the dividend.
Payout = Dividends per share ÷ Diluted EPS (both last 12 months)Payout ratio calculator
About Western Midstream Partners LP
Western Gas Equity Partners, LP was formed to own three types of partnership interests in Western Gas Partners, LP (WES). WES is a limited partnership formed by Anadarko Petroleum Corporation to own, operate, acquire and develop midstream energy assets. As of December 31, 2011, the Company had no independent operations. WES is engaged in the business of gathering, processing, compressing, treating and transporting natural gas, condensate, natural gas liquids (NGLs) and crude oil for Anadarko, as well as third-party producers and customers. On January 13, 2012, WES acquired 100% interest of Mountain Gas Resources LLC (MGR). On August 1, 2012, WES acquired 24% interest of Chipeta Processing LLC (Chipeta).
- Sector
- Energy
- Industry
- Oil & Gas Midstream
- Headquarters
- Texas, USA
- SEC filings
- EDGAR (opens in a new tab)
- Exchange
- NYSE
- Asset type
- Common stock
- Price history since
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WES stock FAQ
What is WES stock’s price today?
Western Midstream Partners LP (WES) traded at $39.86 as of , up $0.01 (0.03%) from the previous close of $39.85. Over the past 52 weeks it has traded between $38.44 and $50.07.
If you invested $1,000 in WES 10 years ago, how much would you have now?
With dividends reinvested, $1,000 invested in WES on would be worth about $2,201 as of , a total return of +120.1%. The same $1,000 would be worth $2,834 if invested five years ago and $1,126 if invested one year ago. Past performance doesn’t predict future returns.
What is WES’s P/E ratio?
WES trades at 13.0 times its diluted earnings over the four quarters to ($3.07 per share), at the last price on . (How the P/E ratio works.)
How much revenue does Western Midstream Partners LP make?
Western Midstream Partners LP reported $4.6 billion of revenue over the four quarters to , up 22.3% from the twelve months before. In its latest quarter (Q3 FY26, ended ) revenue was $1.2 billion, up 25.4% from a year earlier.
Is Western Midstream Partners LP profitable?
Yes. Western Midstream Partners LP earned $1.3 billion of net income over the four quarters to , a net margin of 27.9%, and its operating margin was 37.3% (what margins tell you).
What are WES’s earnings per share?
WES’s diluted earnings per share were $3.07 over the four quarters to , compared with $3.38 in the twelve months before. The latest quarter (Q3 FY26) brought $0.78 per share, against $0.87 a year earlier (how EPS works).
Does WES pay a dividend?
Yes. Western Midstream Partners LP pays a quarterly dividend. The most recent was $0.93 per share, with an ex-dividend date of . Over the last twelve months it paid $3.70 per share, a 9.28% yield at the last price on , and the full-year dividend has risen 4 years in a row (how dividend yield works).
Based on the last 12 months’ payments ($3.70 per share), and if the next 12 months match the last 12, 100 shares would receive about $370 over 12 months, and $1,000 over 12 months would take about 271 shares, roughly $10,802 at the last price on . Dividends can change.
What is WES’s 52-week high and low?
Over the past 52 weeks WES has traded as low as $38.44 and as high as $50.07. At $39.86 as of , it is 20.4% below that high and 3.7% above the low.
What is WES’s all-time high?
WES’s highest closing price was $65.51 on , adjusted for stock splits. At $39.86 as of , it is 39.2% below that record.
Has WES stock ever split?
No. WES hasn’t split since its price history begins in 2012.
How has WES stock performed?
Including dividends and measured to the last price on , WES has returned +9.8% so far this year and +12.6% over the past year, and +183.4% over five years (+23.2% a year). Over the same periods the S&P 500, measured by SPY, returned +8.7%, +10.9% and +67.8%. Past performance doesn’t predict future returns.
What sector and industry is Western Midstream Partners LP in?
Western Midstream Partners LP is in the Energy sector and the Oil & Gas Midstream industry, and is headquartered in Texas, USA.
What exchange does WES trade on?
Western Midstream Partners LP trades on the NYSE under the ticker symbol WES. Its price history on this dashboard begins on .
Member SIPC.Low CommissionsLearn More (opens in a new tab)Sponsored. Affiliate link: I may earn a commission. The inclusion of Interactive Brokers’ (IBKR) name, logo or weblink is present pursuant to an advertising arrangement only. IBKR is not a contributor, reviewer, provider or sponsor of content published on this site, and is not responsible for the accuracy of any products or services discussed.
About this data. Data sourced by Tiingo (opens in a new tab). The live price is Tiingo’s real-time price, based on IEX trades and quotes; intraday charts show IEX trades, and volume figures are consolidated totals for completed sessions. Prices are split-adjusted, and total returns assume dividends are reinvested. Financials come from company filings and can lag new reports. Times are Eastern.
This page is for education, not investment advice. Past performance doesn't predict future returns. Logos provided by Logo.dev (opens in a new tab).
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