WES Stock Recent News

Higher throughput is likely to have boosted Q4 earnings for Western Midstream (WES).

Lower commodity prices amid flat production are likely to have hurt BP's Q4 earnings to some extent.

Recognize that the natural gas surplus is only one side of the equation; assessing capacity relative to demand is crucial. Western Midstream is actively fortifying its asset portfolio and enhancing shareholder returns through distribution raises and share buybacks. Despite industry-low debt levels and higher yields, WES is considered considerably undervalued.

Western Midstream (WES) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).

WES made it to the Zacks Rank #1 (Strong Buy) income stocks list on December 144, 2023.

HOUSTON--(BUSINESS WIRE)--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 Jon Greenberg, Vice President, Corporate Development, to provide additional insights related to third quarter 2023 results. In addition, WES intends to participate in the following.

Western Midstream's increasing organic throughput and recent M&A add confidence that the partnership can grow earnings and distributions. Quarterly distributions should exceed 2019 levels by the second half of 2024. WES also has the capacity to increase buybacks. I believe Western Midstream Partnership units should finally break out of their 2-year trading range based on this outlook.

While the top- and bottom-line numbers for Western Midstream (WES) give a sense of how the business performed in the quarter ended September 2023, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

At an 8.3% annualized yield, Western Midstream is well above the 5% of a two-year Treasury.

Western Midstream's share price has stagnated despite efforts to improve shareholder returns, but it offers a dividend yield of over 8%. The company's unique ownership structure with Occidental Petroleum poses risks, as Occidental Petroleum has struggled in the past and may sell its stake. Western Midstream has shown strong operational performance and financials, with volume improvement, increased dividends, and debt reduction.