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Western Midstream Partners, LP Stock Research

WES

25.81USD-0.03(-0.12%)Market Closed

Market Summary

USD25.81-0.03
Market Closed
-0.12%

WES Alerts

WES Stock Price

WES RSI Chart

WES Valuation

Market Cap

10.2B

Price/Earnings (Trailing)

9.14

Price/Sales (Trailing)

3.17

EV/EBITDA

8.13

Price/Free Cashflow

5.93

WES Price/Sales (Trailing)

WES Profitability

EBT Margin

38.61%

Return on Assets

10.8%

Free Cashflow Yield

16.86%

WES Fundamentals

WES Revenue

Revenue (TTM)

3.2B

Revenue Y/Y

-3.21%

Revenue Q/Q

-5.83%

WES Earnings

Earnings (TTM)

1.1B

Earnings Y/Y

-35.89%

Earnings Q/Q

-39.45%

Price Action

52 Week Range

21.1829.18
(Low)(High)

Last 7 days

-3.7%

Last 30 days

-0.2%

Last 90 days

-2.3%

Trailing 12 Months

-1.4%

WES Financial Health

Current Ratio

1

Debt/Cashflow

0.26

WES Investor Care

Buy Backs (1Y)

5.71%

Financials for Western Midstream Partners

Income Statement (Last 12 Months)
(In Millions)
* denotes actual numbers (not divided by Millions)
Description(%) Q/Q2023Q12022Q42022Q32022Q22022Q1
Revenue-0.7%3,2273,2523,1913,1182,960
Operating Expenses6.9%700655635585570
  S&GA Expenses1.3%197194200202199
Costs and Expenses4.0%2,0281,9511,8901,7971,715
EBITDA5.4%2,1722,0602,0441,980-
EBITDA Margin3.5%0.67*0.65*0.63*--
Earnings Before Taxes-8.7%1,1461,2561,1471,1381,061
EBT Margin7.5%0.39*0.36*0.35*--
Interest Expenses-1.1%330334339349363
Net Income-7.9%1,1211,2171,1421,1321,055
Net Income Margin4.6%0.37*0.36*0.34*--
Free Cahsflow-9.2%1,7011,8741,7971,782-
Balance Sheet
(In Millions)
Description(%) Q/Q2023Q12022Q42022Q32022Q22022Q1
Assets-1.4%11,11211,27211,47311,38911,446
  Current Assets-18.3%735900896863906
    Cash Equivalents-60.7%11328715997.00248
  Net PPE0.0%8,5418,5428,5408,4788,475
  Goodwill0%5.005.005.005.005.00
Liabilities-1.9%8,0118,1648,4678,0848,175
  Current Liabilities-35.7%5819047467551,337
  Long Term Debt1.9%6,6946,5707,0276,6566,189
Accumulated Depreciation3.8%5,0094,8244,6974,5814,455
Cashflow (Last 12 Months)
(In Millions)
Description(%) Q/Q2023Q12022Q42022Q32022Q22022Q1
Cashflow From Operations1.5%1,7271,7011,8741,7971,782
  Share Based Compensation-2.0%27.0028.0028.0029.0029.00
Cashflow From Investing-49.3%-325-218-426-322-282
Cashflow From Financing-9.9%-1,537-1,398-1,388-1,682-1,307
  Dividend Payments8.4%798736674610537
  Buy Backs0.4%490488560280206

Risks for WES

What is the probability of a big loss on WES?

64.2%


Probability that Western Midstream Partners stock will be more than 20% underwater in next one year

37.3%


Probability that Western Midstream Partners stock will be more than 30% underwater in next one year.

26.9%


Probability that Western Midstream Partners stock will be more than 40% underwater in next one year.
*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does WES drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Western Midstream Partners was unfortunately bought at previous high price.

Drawdowns

Returns for WES

Cumulative Returns on WES

2.9%


10-Year Cumulative Returns

0.3%


7-Year Cumulative Returns

1.8%


5-Year Cumulative Returns

49.8%


3-Year Cumulative Returns

What are the long-term rolling returns for WES?

FIve years rolling returns for Western Midstream Partners.

Annualized Returns

Which funds bought or sold WES recently?

View All Details
Datesorted ascendingFund NameType% Chg$ Change$ Held% Portfolio
2023-05-23
Brookfield Corp /ON/
added
2.08
168,425
66,160,200
0.25%
2023-05-19
Coppell Advisory Solutions LLC
sold off
-100
-967
-
-%
2023-05-18
JPMORGAN CHASE & CO
reduced
-5.88
-9,322,000
113,996,000
0.01%
2023-05-17
B. Riley Wealth Advisors, Inc.
reduced
-0.53
-22,365
945,470
0.03%
2023-05-17
Advisory Services Network, LLC
reduced
-69.88
-27,057
11,365
-%
2023-05-17
Westside Investment Management, Inc.
unchanged
-
23,709
23,733
0.01%
2023-05-16
CHILTON CAPITAL MANAGEMENT LLC
unchanged
-
-38,400
2,109,570
0.12%
2023-05-16
Apollon Wealth Management, LLC
added
6.23
22,431
540,743
0.03%
2023-05-16
JANE STREET GROUP, LLC
added
135
1,248,560
2,201,920
-%
2023-05-16
Rockefeller Capital Management L.P.
added
148
423,000
717,000
-%

1–10 of 42

Latest Funds Activity

Are funds buying WES calls or puts?
Calls
Puts
Are funds bullish or bearish(Calls - Puts)?
Net Call Options
No. of funds that own WES
No. of Funds

Western Midstream Partners News

MarketBeat
Raymond James & Associates Has $2.23 Million Stock Holdings in ....
MarketBeat,
4 minutes ago
InvestorsObserver
Marketscreener.com
Yahoo Finance

Schedule 13G FIlings of Western Midstream Partners

Date FiledName of FilerPercent of ClassNo. of SharesForm Type
Feb 13, 2023
alps advisors inc
6.60%
25,442,166
SC 13G/A
Feb 16, 2021
invesco ltd.
5.1%
21,340,971
SC 13G
Sep 17, 2020
occidental petroleum corp /de/
51.5%
214,281,578
SC 13D/A
Feb 14, 2020
tortoise capital advisors, l.l.c.
4.6%
20,879,174
SC 13G/A
Feb 12, 2020
neuberger berman group llc
3.40%
15,386,554
SC 13G/A
Feb 12, 2020
neuberger berman group llc
3.40%
15,386,554
SC 13G/A
Jan 07, 2020
occidental petroleum corp /de/
54.5%
242,136,976
SC 13D/A
Jan 07, 2020
occidental petroleum corp /de/
54.5%
242,136,976
SC 13D/A
Oct 09, 2019
tortoise capital advisors, l.l.c.
5.3%
23,952,076
SC 13G/A

WES Fair Value

Recent SEC filings of Western Midstream Partners

View All Filings
Date Filed Form Type Document
May 09, 2023
3
Insider Trading
May 03, 2023
8-K
Current Report
May 03, 2023
10-Q
Quarterly Report
Apr 10, 2023
8-K
Current Report
Apr 05, 2023
8-K
Current Report
Mar 30, 2023
S-3ASR
S-3ASR
Feb 23, 2023
10-K/A
Annual Report
Feb 22, 2023
8-K
Current Report
Feb 22, 2023
10-K
Annual Report

Latest Insider Trading transactions for WES

Filter Transactions
Datesorted ascendingNameBuy/Sell$ ValueAvg. Price# SharesTitle
2023-02-14
Ure Michael
acquired
-
-
146,678
president & ceo
2023-02-14
Ure Michael
sold (taxes)
-1,644,960
28.5
-57,718
president & ceo
2023-02-14
Dial Christopher B.
sold (taxes)
-329,004
28.5
-11,544
svp, gc and secretary
2023-02-14
Green Catherine A.
sold (taxes)
-137,085
28.5
-4,810
svp & chief accounting officer
2023-02-14
Bourne Robert W.
acquired
-
-
34,225
svp & chief commercial officer
2023-02-14
Green Catherine A.
acquired
-
-
12,225
svp & chief accounting officer
2023-02-14
Dial Christopher B.
acquired
-
-
29,335
svp, gc and secretary
2023-02-14
Bourne Robert W.
sold (taxes)
-383,838
28.5
-13,468
svp & chief commercial officer
2023-02-13
Ure Michael
acquired
-
-
2,576
president & ceo
2023-02-13
Green Catherine A.
sold (taxes)
-2,460
28.28
-87.00
svp & chief accounting officer

1–10 of 50

Michael P. Ure
1130
Western Midstream Partners, LP, a midstream energy company, together with its subsidiaries, acquires, owns, develops, and operates 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. It also buys and sells natural gas, NGLs, and condensate. The company operates assets located in Texas, New Mexico, the Rocky Mountains, and North-central Pennsylvania. 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. Western Midstream Partners, LP was incorporated in 2007 and is based in The Woodlands, Texas.

WES Income Statement

2023-03-31
Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Revenues and other  
Revenues and other[1]$ 733,982$ 758,297
Equity income, net – related parties39,02149,607
Operating expenses  
Cost of product51,45972,848
Operation and maintenance174,239128,976
General and administrative51,11748,602
Property and other taxes6,83118,442
Depreciation and amortization144,626134,582
Long-lived asset and other impairments[2]52,4010
Total operating expenses[3]480,673403,450
Gain (loss) on divestiture and other, net(2,118)370
Operating income (loss)290,212404,824
Interest expense(81,670)(85,455)
Other income (expense), net1,215106
Income (loss) before income taxes209,757319,475
Income tax expense (benefit)1,4161,805
Net income (loss)208,341317,670
Net income (loss) attributable to noncontrolling interests4,6968,953
Net income (loss) attributable to Western Midstream Partners, LP203,645308,717
Limited partners' interest in net income (loss):  
Net income (loss) attributable to Western Midstream Partners, LP203,645308,717
General partner interest in net (income) loss(4,686)(6,783)
Limited partners' interest in net income (loss)[4]$ 198,959$ 301,934
Net income (loss) per common unit - basic[4]$ 0.52$ 0.75
Net income (loss) per common unit - diluted[4]$ 0.52$ 0.75
Weighted-average common units outstanding - basic[4]384,468403,254
Weighted-average common units outstanding - diluted[4]385,750404,460
Service Revenues - Fee Based [Member]  
Revenues and other  
Revenues and other$ 647,867$ 631,598
Service Revenues - Product Based [Member]  
Revenues and other  
Revenues and other46,81040,867
Product Sales [Member]  
Revenues and other  
Revenues and other39,02585,589
Other [Member]  
Revenues and other  
Revenues and other$ 280$ 243
[1]Total revenues and other includes related-party amounts of $448.8 million and $428.7 million for the three months ended March 31, 2023 and 2022, respectively. See Note 5.
[2]See Note 7.
[3]Total operating expenses includes related-party amounts of $(3.1) million and $(17.6) million for the three months ended March 31, 2023 and 2022, respectively. See Note 5.
[4]See Note 4.

WES Balance Sheet

2023-03-31
Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Current assets  
Cash and cash equivalents$ 112,645$ 286,656
Accounts receivable, net558,300554,263
Other current assets64,35359,506
Total current assets735,298900,425
Property, plant, and equipment  
Cost13,550,06013,365,593
Less accumulated depreciation5,008,8384,823,993
Net property, plant, and equipment8,541,2228,541,600
Goodwill4,7834,783
Other intangible assets705,158713,075
Equity investments931,852944,696
Other assets[1]194,175167,049
Total assets[2]11,112,48811,271,628
Current liabilities  
Accounts and imbalance payables362,398360,562
Short-term debt2,714215,780
Accrued ad valorem taxes52,71772,875
Accrued liabilities163,498254,640
Total current liabilities581,327903,857
Long-term liabilities  
Long-term debt6,693,9416,569,582
Deferred income taxes15,34814,424
Asset retirement obligations293,718290,021
Other liabilities426,590385,629
Total long-term liabilities7,429,5977,259,656
Total liabilities[3]8,010,9248,163,513
Equity and partners' capital  
Common units (384,615,227 and 384,070,984 units issued and outstanding at March 31, 2023, and December 31, 2022, respectively)2,964,7122,969,604
General partner units (9,060,641 units issued and outstanding at March 31, 2023, and December 31, 2022)2,2612,105
Total partners' capital2,966,9732,971,709
Noncontrolling interests134,591136,406
Total equity and partners' capital3,101,5643,108,115
Total liabilities, equity, and partners' capital$ 11,112,488$ 11,271,628
Common units issued384,615,227384,070,984
Common units outstanding384,615,227384,070,984
General partner units issued9,060,6419,060,641
General partner units outstanding9,060,6419,060,641
[1]Other assets includes $6.3 million and $6.5 million of NGLs line-fill inventory as of March 31, 2023, and December 31, 2022, respectively. Other assets also includes $77.4 million and $60.4 million of materials and supplies inventory as of March 31, 2023, and December 31, 2022, respectively.
[2]Total assets includes related-party amounts of $1.3 billion as of March 31, 2023, and December 31, 2022, which includes related-party Accounts receivable, net of $307.6 million and $313.9 million as of March 31, 2023, and December 31, 2022, respectively. See Note 5.
[3]Total liabilities includes related-party amounts of $318.7 million and $312.3 million as of March 31, 2023, and December 31, 2022, respectively. See Note 5.