Western Midstream Partners
WES

$37.76

0.19%

Market Cap: $14.4B

About: Western Midstream Partners LP is a US-based company which own, operate, acquire and develop midstream energy assets. The company through its subsidiary is engaged in the business of gathering, processing, compressing, treating and transporting natural gas, condensate, NGLs and crude oil. It owns or has investments in assets located in the Rocky Mountains (Colorado, Utah, and Wyoming), the Mid-Continent (Kansas and Oklahoma), North-central Pennsylvania and Texas.

Employees: 1,377

Utilities Natural Gas Transmission

0

Funds holding %

of 6,686 funds

0

Analysts bullish %

of 3 analysts

Fund manager confidence

Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)

173% more call options, than puts

Call options by funds: $46.1M | Put options by funds: $16.9M

157% more first-time investments, than exits

New positions opened: 59 | Existing positions closed: 23

17% more funds holding

Funds holding: 214 [Q1] → 250 (+36) [Q2]

7% more capital invested

Capital invested by funds: $5.57B [Q1] → $5.96B (+$395M) [Q2]

3% more repeat investments, than reductions

Existing positions increased: 73 | Existing positions reduced: 71

0% more funds holding in top 10

Funds holding in top 10: 18 [Q1] → 18 (+0) [Q2]

2.05% less ownership

Funds ownership: 41.51% [Q1] → 39.46% (-2.05%) [Q2]

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Research analyst outlook

3 Wall Street Analysts provided 1 year price targets over the past 3 months

Low target

$38

1%

upside

Avg. target

$39

3%

upside

High target

$40

6%

upside

3 analyst ratings

0 positive

0%

3 neutral

100%

0 negative

0%

RBC Capital Elvira Scotto 76% 1-year accuracy 13 / 17 met price target	1%upside $38	Sector Perform Maintained	27 Aug 2024
Stifel Selman Akyol 65% 1-year accuracy 15 / 23 met price target	6%upside $40	Hold Maintained	9 Aug 2024
Stifel Selman Akyol 65% 1-year accuracy 15 / 23 met price target	3%upside $39	Hold Downgraded	10 Jul 2024

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Financial journalist opinion

Based on 8 articles about WES published over the past 30 days

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2 Top Dividend Payers For +9% Income In 2024

WESTERN MIDSTREAM ANNOUNCES SECOND-QUARTER POST-EARNINGS INTERVIEW WITH CHIEF FINANCIAL OFFICER, KRISTEN SHULTS AND CHIEF OPERATING OFFICER, DANNY HOLDERMAN

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, 2024 MUFG Oil & Gas Conference in New York, New York on September 5, 2024 NYSE Energy & Utilities Virtual Investor Access Day on September 10, 2024 Wolfe Research Utilities, Midstream & Clean Energy Conference in New York, New York on October 2, 2024 Citadel Securities Energy Investor Days in New York, New York on October 3, 2024 ABOUT WESTERN MIDSTREAM Western Midstream Partners, LP ("WES") is a master limited partnership formed to develop, acquire, own, and operate midstream assets.

WESTERN MIDSTREAM ANNOUNCES SECOND-QUARTER POST-EARNINGS INTERVIEW WITH CHIEF FINANCIAL OFFICER, KRISTEN SHULTS AND CHIEF OPERATING OFFICER, DANNY HOLDERMAN

WESTERN MIDSTREAM ANNOUNCES PRICING OF NOTES OFFERING

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.

WESTERN MIDSTREAM ANNOUNCES PRICING OF NOTES OFFERING

Western Midstream: Occidental Sale Is Bullish For Long-Term Investors

Occidental partial sale of WES units is bullish for long-term investors as it makes taking private scenario unlikely. A flurry of new commercial agreements, commissioning of new gas plants, and reduction in Capex promise increased cash flows in 2024, and beyond. It should translate to growth in distributions. WES has achieved a stronger balance sheet, allowing for more flexibility in pursuing M&A, raising distributions, and potential credit upgrades.

Western Midstream: Occidental Sale Is Bullish For Long-Term Investors

Western Midstream: Income Roars Ahead

Occidental is about to sell some midstream shares in a secondary offering, but that will not affect the future outlook. Western Midstream reported significant income gains in Q2 2024. The distribution for the current fiscal year is roughly 50% higher than the distribution rate for the last fiscal year.

Western Midstream: Income Roars Ahead

WESTERN MIDSTREAM ANNOUNCES PRICING OF SECONDARY PUBLIC OFFERING OF COMMON UNITS

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.

WESTERN MIDSTREAM ANNOUNCES PRICING OF SECONDARY PUBLIC OFFERING OF COMMON UNITS

WESTERN MIDSTREAM ANNOUNCES SECONDARY PUBLIC OFFERING OF COMMON UNITS

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.

WESTERN MIDSTREAM ANNOUNCES SECONDARY PUBLIC OFFERING OF COMMON UNITS

Western Midstream Partners: High Yield Supported By Growth

WES continues to set new volume records in key basins. The completion of projects for new capacity over the next year and new deals for more volume with upstream producers underpin further growth. Distributions are among the best in the industry, with strong growth and the potential for special distributions each year.

Western Midstream Partners: High Yield Supported By Growth

Western Midstream Partners LP (WES) Q2 2024 Earnings Call Transcript

Western Midstream Partners LP (NYSE:WES ) Q2 2024 Earnings Conference Call August 8, 2024 2:00 PM ET Company Participants Daniel Jenkins - Director of IR Michael Ure - CEO Kristen Shults - CFO Conference Call Participants Gabe Moreen - Mizuho Keith Stanley - Wolfe Research Jeremy Tonet - JP Morgan Chase Spiro Dounis - Citi Manav Gupta - UBS Neel Mitra - Bank of America Zach Van Everen - TPH Operator Good afternoon, my name is Ludi and I will be your conference operator today. At this time, I would like to welcome everyone to the Western Midstream Partners Second Quarter 2024 Earnings Conference Call.

Western Midstream Partners LP (WES) Q2 2024 Earnings Call Transcript

WESTERN MIDSTREAM ANNOUNCES SECOND-QUARTER 2024 RESULTS

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.

WESTERN MIDSTREAM ANNOUNCES SECOND-QUARTER 2024 RESULTS

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