Research Analysts Set Expectations for WES FY2024 Earnings

Western Midstream Partners, LP (NYSE:WES) – Equities research analysts at US Capital Advisors cut their FY2024 earnings per share estimates for shares of Western Midstream Partners in a report released on Monday, February 3rd. US Capital Advisors analyst J. Carreker now anticipates that the pipeline company will earn $4.04 per share for the year, down from their prior forecast of $4.05. US Capital Advisors has a “Moderate Buy” rating on the stock. The consensus estimate for Western Midstream Partners’ current full-year earnings is $4.02 per share. US Capital Advisors also issued estimates for Western Midstream Partners’ Q4 2024 earnings at $0.86 EPS, Q2 2025 earnings at $0.84 EPS, Q3 2025 earnings at $0.86 EPS, Q4 2025 earnings at $0.94 EPS, FY2025 earnings at $3.51 EPS and FY2026 earnings at $3.79 EPS.

Western Midstream Partners (NYSE:WES) last announced its earnings results on Wednesday, November 6th. The pipeline company reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.09). Western Midstream Partners had a net margin of 42.99% and a return on equity of 46.02%. The company had revenue of $883.36 million during the quarter, compared to the consensus estimate of $924.83 million. During the same quarter in the prior year, the company earned $0.70 EPS. The business’s quarterly revenue was up 13.8% on a year-over-year basis.

Other research analysts have also issued reports about the company. StockNews.com lowered Western Midstream Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, October 28th. Morgan Stanley downgraded shares of Western Midstream Partners from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $42.00 to $40.00 in a report on Friday, October 25th. Royal Bank of Canada restated a “sector perform” rating and set a $41.00 target price on shares of Western Midstream Partners in a report on Monday, December 9th. Bank of America started coverage on Western Midstream Partners in a research note on Thursday, October 17th. They set an “underperform” rating and a $37.00 price objective for the company. Finally, UBS Group cut their target price on Western Midstream Partners from $40.00 to $37.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Western Midstream Partners currently has an average rating of “Hold” and an average price target of $37.88.

Western Midstream Partners Price Performance

Shares of NYSE:WES opened at $41.20 on Wednesday. The stock’s 50 day moving average price is $40.15 and its 200 day moving average price is $39.12. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market cap of $15.68 billion, a price-to-earnings ratio of 10.51, a PEG ratio of 1.38 and a beta of 2.88. Western Midstream Partners has a 12 month low of $27.84 and a 12 month high of $43.33.

Institutional Trading of Western Midstream Partners

A number of institutional investors have recently bought and sold shares of WES. Apollon Wealth Management LLC lifted its holdings in shares of Western Midstream Partners by 1.2% during the 4th quarter. Apollon Wealth Management LLC now owns 25,691 shares of the pipeline company’s stock valued at $987,000 after buying an additional 295 shares during the last quarter. Cedar Mountain Advisors LLC grew its position in Western Midstream Partners by 16.1% in the third quarter. Cedar Mountain Advisors LLC now owns 2,158 shares of the pipeline company’s stock worth $83,000 after acquiring an additional 299 shares in the last quarter. Bleakley Financial Group LLC increased its stake in shares of Western Midstream Partners by 5.8% during the 3rd quarter. Bleakley Financial Group LLC now owns 5,711 shares of the pipeline company’s stock worth $218,000 after purchasing an additional 311 shares during the last quarter. Concurrent Investment Advisors LLC increased its stake in shares of Western Midstream Partners by 6.2% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 6,053 shares of the pipeline company’s stock worth $232,000 after purchasing an additional 352 shares during the last quarter. Finally, Truist Financial Corp raised its holdings in shares of Western Midstream Partners by 1.9% during the 2nd quarter. Truist Financial Corp now owns 22,508 shares of the pipeline company’s stock valued at $894,000 after purchasing an additional 421 shares in the last quarter. Institutional investors and hedge funds own 84.82% of the company’s stock.

Western Midstream Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be issued a dividend of $0.875 per share. This represents a $3.50 annualized dividend and a dividend yield of 8.50%. The ex-dividend date of this dividend is Monday, February 3rd. Western Midstream Partners’s dividend payout ratio is currently 89.29%.

Western Midstream Partners Company Profile

Western Midstream Partners, LP, together with its subsidiaries, operates as a midstream energy company primarily in the United States. It 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 produced water.