Western Midstream Partners, LP, together with its subsidiaries, acquire, own, develop, and operate midstream assets primarily in the United States. It is involved in gathering, compressing, treating, processing, and transporting of natural gas; gathering, stabilizing, and transporting of condensate, natural gas liquids, and crude oil; and gathering and disposing of produced water. The company also buys and sells natural gas, NGLs, and condensate. Western Midstream Holdings, LLC operates as the general partner of the company. The company was formerly known as Western Gas Equity Partners, LP and changed its name to Western Midstream Partners, LP in February 2019. The company was founded in 2007 and is headquartered in The Woodlands, Texas. Western Midstream Partners, LP operates as a subsidiary of Occidental Petroleum Corporation.
IPO Year: 2012
Exchange: NYSE
Website: westernmidstream.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 10/25/2024 | $42.00 → $40.00 | Equal-Weight → Underweight | Morgan Stanley |
| 10/17/2024 | $37.00 | Underperform | BofA Securities |
| 9/16/2024 | $42.00 | Overweight → Equal-Weight | Morgan Stanley |
| 7/10/2024 | $39.00 | Buy → Hold | Stifel |
| 4/18/2024 | Underperform → Peer Perform | Wolfe Research | |
| 3/19/2024 | Outperform → Mkt Perform | Raymond James | |
| 2/29/2024 | $30.00 → $34.00 | Buy → Neutral | Citigroup |
| 12/13/2023 | $30.00 → $27.00 | Buy → Underperform | BofA Securities |
| 8/11/2023 | $31.00 → $30.00 | Overweight → Equal Weight | Wells Fargo |
| 8/9/2023 | $31.00 → $29.00 | Overweight → Neutral | JP Morgan |
Michael Ure Steps Down Following Successful Transformation of Western Midstream into Leading Midstream Operator Partnership Reaffirms 2024 Adjusted EBITDA and Free Cash Flow Guidance HOUSTON, Oct. 28, 2024 /PRNewswire/ -- Today Western Midstream Partners, LP (NYSE:WES) ("WES" or the "Partnership") announced Oscar K. Brown, an independent director of Western Midstream Holdings, LLC, WES's general partner (the "General Partner"), has been appointed President and Chief Executive Officer of the General Partner, effective immediately. The Board of Directors of the General Partner (the "Board") and Michael Ure agreed that he will step down from his position, including as Director. To ensure a smoo
HOUSTON, Oct. 17, 2024 /PRNewswire/ -- Today Western Midstream Partners, LP (NYSE:WES) ("WES" or the "Partnership") announced that the board of directors of its general partner declared a quarterly cash distribution ("Base Distribution") of $0.8750 per unit for the third quarter of 2024, or $3.50 on an annualized basis, which is in-line with the prior quarter's Base Distribution. WES's third-quarter 2024 Base Distribution is payable on November 14, 2024, to unitholders of record at the close of business on November 1, 2024. The Partnership plans to report its third-quarter 2024 results after market close on Wednesday, November 6, 2024. Management will host a conference call on Thursday, Nove
Reported second-quarter 2024 Net income attributable to limited partners of $369.8 million, generating second-quarter Adjusted EBITDA(1) of $578.1 million.Reported second-quarter 2024 Cash flows provided by operating activities of $631.4 million, generating second-quarter Free cash flow(1) of $424.8 million.Announced a second-quarter Base Distribution of $0.875 per unit, or $3.50 per unit on an annualized basis, which is in-line with the prior-quarter's Base Distribution.HOUSTON, Aug. 7, 2024 /PRNewswire/ -- Today Western Midstream Partners, LP (NYSE:WES) ("WES" or the "Partnership") announced second-quarter 2024 financial and operating results. Net income (loss) attributable to limited part
HOUSTON, July 18, 2024 /PRNewswire/ -- Today Western Midstream Partners, LP (NYSE:WES) ("WES" or the "Partnership") announced that the board of directors of its general partner declared a quarterly cash distribution ("Base Distribution") of $0.8750 per unit for the second quarter of 2024, or $3.50 on an annualized basis, which is in-line with the prior quarter's Base Distribution. WES's second-quarter 2024 Base Distribution is payable on August 14, 2024, to unitholders of record at the close of business on August 1, 2024. The Partnership plans to report its second-quarter 2024 results after market close on Wednesday, August 7, 2024. Management will host a conference call on Thursday, August
Reported record first-quarter 2024 Net income attributable to limited partners of $559.5 million, generating record first-quarter Adjusted EBITDA(1) of $608.4 million.Reported first-quarter 2024 Cash flows provided by operating activities of $399.7 million, generating first-quarter Free cash flow(1) of $225.0 million.Announced a first-quarter Base Distribution of $0.875 per unit, or $3.50 per unit on an annualized basis, which represents a 52-percent increase over the prior-quarter's distribution.Completed the start-up of Mentone Train III ("Mentone III") at our West Texas complex in early April.Year-to-date, repurchased a total of $150.0 million of senior notes at approximately 96-percent o
HOUSTON, April 18, 2024 /PRNewswire/ -- Today Western Midstream Partners, LP (NYSE:WES) ("WES" or the "Partnership") announced that the board of directors of its general partner declared a quarterly cash distribution ("Base Distribution") of $0.8750 per unit for the first quarter of 2024, or $3.50 on an annualized basis, which is 52-percent higher than the prior quarter's distribution and in-line with WES's previously announced expectations. WES's first-quarter 2024 Base Distribution is payable on May 15, 2024, to unitholders of record at the close of business on May 1, 2024. The Partnership plans to report its first-quarter 2024 results after market close on Wednesday, May 8, 2024. Manageme
EXPECTS TO RECOMMEND A 52-PERCENT BASE DISTRIBUTION INCREASE Subsequent to quarter-end, entered into a series of agreements to sell WES's equity interests in multiple non-core assets for aggregate proceeds of $790 million and for an aggregate multiple of approximately 9.6 times 2023 Adjusted EBITDA.Provided 2024 guidance ranges of $2.200 billion to $2.400 billion for Adjusted EBITDA(1), $700.0 million to $850.0 million for total capital expenditures(2), and $1.050 billion to $1.250 billion for Free cash flow(1), all of which include the impact of the non-core asset divestitures.As a result of WES's meaningful net leverage reduction, reduced unit count, and significant, sustainable Free cash
Reported fourth-quarter 2023 Net income attributable to limited partners of $281.6 million, generating fourth-quarter Adjusted EBITDA(1) of $570.7 million.Reported full-year 2023 Net income attributable to limited partners of $998.5 million, generating full-year Adjusted EBITDA(1) of $2.069 billion, and exceeding the revised full-year 2023 Adjusted EBITDA range of $1.950 billion to $2.050 billion.Reported fourth-quarter 2023 Cash flows provided by operating activities of $473.3 million, generating fourth-quarter Free cash flow(1) of $282.0 million.Reported full-year 2023 Cash flows provided by operating activities of $1.661 billion, generating full-year Free cash flow(1) of $964.2 million, a
HOUSTON, Jan. 22, 2024 /PRNewswire/ -- Today Western Midstream Partners, LP (NYSE:WES) ("WES" or the "Partnership") announced that the board of directors of its general partner declared a quarterly cash distribution ("Base Distribution") of $0.5750 per unit for the fourth quarter of 2023, or $2.30 on an annualized basis, which is in line with the prior quarters' distribution. WES's fourth-quarter 2023 Base Distribution is payable on February 13, 2024, to unitholders of record at the close of business on February 1, 2024. The Partnership plans to report its fourth-quarter 2023 results after market close on Wednesday, February 21, 2024. Management will host a conference call on Thursday, Febru
Reported third-quarter 2023 Net income attributable to limited partners of $270.8 million, generating third-quarter Adjusted EBITDA(1) of $510.9 million. Reported third-quarter 2023 Cash flows provided by operating activities of $394.8 million, generating third-quarter Free cash flow(1) of $200.4 million. Announced a third-quarter Base Distribution of $0.5750 per unit, or $2.30 on an annualized basis, which represents a 2.2-percent increase to the prior-quarter's Base Distribution. Repurchased 5.1 million common units from Occidental Petroleum Corporation ("Oxy") for $127.5 million, reducing Oxy's total ownership interest in WES to below 50.0% when taking into account both its lim
Today Western Midstream Partners, LP (NYSE:WES) ("WES" or the "Partnership") announced the appointment of Kristen Shults to Senior Vice President and Chief Financial Officer, effective on May 2, 2022. In this role, Shults will continue to lead the organization's Finance, Investor Relations, Communications, and Sustainability teams, with additional oversight of the Accounting organization. "Since becoming a stand-alone midstream enterprise, our team has made tremendous progress in reducing our cost structure, increasing our operational efficiency, and returning value back to stakeholders through debt reduction, unit buybacks, and attractive distributions," said President and CEO Michael Ur
FREYR Battery (NYSE:FREY) ("FREYR"), a developer of clean, next-generation battery cell production capacity, today announced the appointment of Oscar Brown to the position of Group Chief Financial Officer ("CFO") at FREYR Battery. As CFO, Brown will report to FREYR's Chief Executive Officer, Tom Einar Jensen, and will be responsible for financial planning, performance, reporting, and capital markets engagement across the organization. He will assume his new position at FREYR effective immediately. "We are delighted to welcome Oscar to the FREYR executive leadership team. As we prepare to execute our strategic plan to establish clean battery production at giga scale in Norway, the U.S. and
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Morgan Stanley downgraded Western Midstream from Equal-Weight to Underweight and set a new price target of $40.00 from $42.00 previously
BofA Securities resumed coverage of Western Midstream with a rating of Underperform and set a new price target of $37.00
Morgan Stanley downgraded Western Midstream from Overweight to Equal-Weight and set a new price target of $42.00
Stifel downgraded Western Midstream from Buy to Hold and set a new price target of $39.00
Wolfe Research upgraded Western Midstream from Underperform to Peer Perform
Raymond James downgraded Western Midstream from Outperform to Mkt Perform
Citigroup downgraded Western Midstream from Buy to Neutral and set a new price target of $34.00 from $30.00 previously
BofA Securities downgraded Western Midstream from Buy to Underperform and set a new price target of $27.00 from $30.00 previously
Wells Fargo downgraded Western Midstream from Overweight to Equal Weight and set a new price target of $30.00 from $31.00 previously
JP Morgan downgraded Western Midstream from Overweight to Neutral and set a new price target of $29.00 from $31.00 previously
Michael Ure Steps Down Following Successful Transformation of Western Midstream into Leading Midstream Operator Partnership Reaffirms 2024 Adjusted EBITDA and Free Cash Flow Guidance HOUSTON, Oct. 28, 2024 /PRNewswire/ -- Today Western Midstream Partners, LP (NYSE:WES) ("WES" or the "Partnership") announced Oscar K. Brown, an independent director of Western Midstream Holdings, LLC, WES's general partner (the "General Partner"), has been appointed President and Chief Executive Officer of the General Partner, effective immediately. The Board of Directors of the General Partner (the "Board") and Michael Ure agreed that he will step down from his position, including as Director. To ensure a smoo
HOUSTON, Oct. 17, 2024 /PRNewswire/ -- Today Western Midstream Partners, LP (NYSE:WES) ("WES" or the "Partnership") announced that the board of directors of its general partner declared a quarterly cash distribution ("Base Distribution") of $0.8750 per unit for the third quarter of 2024, or $3.50 on an annualized basis, which is in-line with the prior quarter's Base Distribution. WES's third-quarter 2024 Base Distribution is payable on November 14, 2024, to unitholders of record at the close of business on November 1, 2024. The Partnership plans to report its third-quarter 2024 results after market close on Wednesday, November 6, 2024. Management will host a conference call on Thursday, Nove
Achieved $3 billion in principal debt reduction in the third quarter of 2024Public offering of a portion of Occidental's common units of Western Midstream Partners, LP, raised $700 million, bringing total 2024 year-to-date closed or announced divestments to approximately $1.7 billionFollowing close of the previously announced Delaware Basin Barilla Draw divestiture, which is expected late in the third quarter, Occidental expects a total year-to-date reduction of over $3.8 billion in principal debt HOUSTON, Aug. 19, 2024 (GLOBE NEWSWIRE) -- Occidental (NYSE:OXY) today announced it has achieved $3 billion in principal debt reduction in the third quarter of 2024, utilizing robust organic cas
AND PARTICIPATION IN UPCOMING INVESTOR CONFERENCES HOUSTON, Aug. 19, 2024 /PRNewswire/ -- Today Western Midstream Partners, LP (NYSE:WES) ("WES" or the "Partnership") announced that tomorrow before the market open it will make available on its website at www.westernmidstream.com a post-earnings interview with Kristen Shults, Senior Vice President and Chief Financial Officer, and Danny Holderman, Senior Vice President and Chief Operating Officer, to provide additional insights related to second-quarter 2024 results. In addition, WES intends to participate in the following investor conferences during the third quarter of 2024: Barclays CEO Energy Conference in New York, New York on September 4
HOUSTON, Aug. 15, 2024 /PRNewswire/ -- Western Midstream Partners, LP (NYSE: WES) ("WES") announced today that its subsidiary, Western Midstream Operating, LP ("WES Operating"), has priced an offering of $800 million in aggregate principal amount of 5.45% senior notes due 2034 at a price to the public of 99.743% of their face value. The offering of the senior notes is expected to close on August 20, 2024 subject to the satisfaction of customary closing conditions. Net proceeds from the offering are expected to be used to repay a portion of WES Operating's maturing 3.100% Senior Notes due 2025 and 3.950% Senior Notes due 2025, and for general partnership purposes, including the funding of cap
HOUSTON, Aug. 12, 2024 /PRNewswire/ -- Western Midstream Partners, LP (NYSE:WES) ("WES") announced today the pricing of the previously announced underwritten secondary public offering of 19,000,000 common units representing limited partner interests in WES ("Common Units") by affiliates of Occidental (NYSE:OXY) (the "Selling Unitholders"), for gross proceeds of $685.9 million. The offering is expected to close on August 14, 2024, subject to customary closing conditions. The Selling Unitholders have granted Barclays, as the underwriter, a 30-day option to purchase up to 2,850,000 additional Common Units from the Selling Unitholders at the public offering price less underwriting discounts and
HOUSTON, Aug. 12, 2024 /PRNewswire/ -- Western Midstream Partners, LP (NYSE: WES) ("WES") announced today the commencement of an underwritten secondary public offering of 19,000,000 common units representing limited partner interests in WES ("Common Units") by affiliates of Occidental (NYSE:OXY) (the "Selling Unitholders"). The Selling Unitholders intend to grant Barclays, as the underwriter, a 30-day option to purchase up to 2,850,000 additional Common Units from the Selling Unitholders. WES is not selling any Common Units in the offering and will not receive any proceeds from the sale of Common Units in the offering. The offering is subject to market and other conditions, and there can be
Reported second-quarter 2024 Net income attributable to limited partners of $369.8 million, generating second-quarter Adjusted EBITDA(1) of $578.1 million.Reported second-quarter 2024 Cash flows provided by operating activities of $631.4 million, generating second-quarter Free cash flow(1) of $424.8 million.Announced a second-quarter Base Distribution of $0.875 per unit, or $3.50 per unit on an annualized basis, which is in-line with the prior-quarter's Base Distribution.HOUSTON, Aug. 7, 2024 /PRNewswire/ -- Today Western Midstream Partners, LP (NYSE:WES) ("WES" or the "Partnership") announced second-quarter 2024 financial and operating results. Net income (loss) attributable to limited part
HOUSTON, July 18, 2024 /PRNewswire/ -- Today Western Midstream Partners, LP (NYSE:WES) ("WES" or the "Partnership") announced that the board of directors of its general partner declared a quarterly cash distribution ("Base Distribution") of $0.8750 per unit for the second quarter of 2024, or $3.50 on an annualized basis, which is in-line with the prior quarter's Base Distribution. WES's second-quarter 2024 Base Distribution is payable on August 14, 2024, to unitholders of record at the close of business on August 1, 2024. The Partnership plans to report its second-quarter 2024 results after market close on Wednesday, August 7, 2024. Management will host a conference call on Thursday, August
HOUSTON, July 1, 2024 /PRNewswire/ -- Today Western Midstream Partners, LP (NYSE:WES) ("WES" or the "Partnership") announced that its 2023 Schedule K-3 reflecting items of international tax relevance is available online. Unitholders requiring this information may access their Schedules K-3 at www.taxpackagesupport.com/westernmidstream. A limited number of unitholders (primarily foreign unitholders, unitholders computing a foreign tax credit on their tax return and certain corporate and/or partnership unitholders) may need the detailed information disclosed on Schedule K-3 for their specific reporting requirements. To the extent Schedule K-3 is applicable to your federal income tax return fil
Stifel analyst Selman Akyol downgrades Western Midstream (NYSE:WES) from Buy to Hold and maintains the price target from $39 to $39.
Western Midstream's (NYSE:WES) short percent of float has risen 18.56% since its last report. The company recently reported that it has 8.13 million shares sold short, which is 4.28% of all regular shares that are available for trading. Based on its trading volume, it would take traders 7.26 days to cover their short positions on average. Why Short Interest Matters Short interest is the number of shares that have been sold short but have not yet been covered or closed out. Short selling is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises. Short inter
Wells Fargo analyst Michael Blum maintains Western Midstream (NYSE:WES) with a Equal-Weight and raises the price target from $34 to $35.
Western Midstream's (NYSE:WES) short percent of float has risen 8.9% since its last report. The company recently reported that it has 6.95 million shares sold short, which is 3.67% of all regular shares that are available for trading. Based on its trading volume, it would take traders 7.37 days to cover their short positions on average. Why Short Interest Matters Short interest is the number of shares that have been sold short but have not yet been covered or closed out. Short selling is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises. Short interes
Western Midstream (NYSE:WES) reported quarterly earnings of $1.47 per share which beat the analyst consensus estimate of $0.81 by 81.48 percent. This is a 182.69 percent increase over earnings of $0.52 per share from the same period last year. The company reported quarterly sales of $887.73 million which missed the analyst consensus estimate of $890.65 million by 0.33 percent. This is a 20.95 percent increase over sales of $733.98 million the same period last year.
Western Midstream (NYSE:WES) has been analyzed by 4 analysts in the last three months, revealing a diverse range of perspectives from bullish to bearish. The table below provides a snapshot of their recent ratings, showcasing how sentiments have evolved over the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 2 0 2 0 0 Last 30D 1 0 0 0 0 1M Ago 0 0 0 0 0 2M Ago 0 0 1 0 0 3M Ago 1 0 1 0 0 In the assessment of 12-month price targets, analysts unveil insights for Western Midstream, presenting an average target of $35.75, a high estimate of $39.00, and a low estimate of $34.00. Marking an inc
Mizuho analyst Gabriel Moreen maintains Western Midstream (NYSE:WES) with a Buy and raises the price target from $34 to $39.
Wolfe Research analyst Keith Stanley upgrades Western Midstream (NYSE:WES) from Underperform to Peer Perform.
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