Western Midstream Partners LP

WES · NYSE

$44.53+$0.17 (+0.38%)TodayMarket closed · Oct 20, 7:41 PM ET

Prev close $44.36

WES analyst rating

HoldConsensus of 11 analysts over the last 12 months. 36% rate it a buy.

Strong buy0
Buy4
Hold7
Underperform0
Sell0

12-month price target · 15 analysts

Average $50.08 (+12.5% upside)

Low: $41.41
Now: $44.53
High: $57.75

Upgrades and downgrades

The latest rating actions, newest first

WES analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
JP Morgan	Oct 20, 2026	Initiates	Neutral	$50.00	—
Truist Securities	Sep 17, 2026	Initiates	Buy	$55.00	57%
Stifel	Sep 10, 2026	Initiates	Buy	$55.00	33%
RBC Capital	Aug 24, 2026	Maintains	Sector Perform	$41.00 → $47.00	65%
Morgan Stanley	Aug 18, 2026	Maintains	Equal-Weight	$51.00 → $55.00	61%
Citigroup	Aug 11, 2026	Maintains	Neutral	$42.00 → $45.00	66%
Wells Fargo	Aug 10, 2026	Maintains	Equal-Weight	$43.00 → $46.00	48%
JP Morgan	Jul 14, 2026	Maintains	Neutral	$46.00 → $47.00	57%
Mizuho	Jul 14, 2026	Maintains	Outperform	$48.00 → $51.00	71%
UBS	Jul 10, 2026	Maintains	Neutral	$45.00 → $48.00	60%

The case for and against

Updated Feb 12, 2025

Bull case

Western Midstream Partners LP is positioned favorably due to anticipated increases in Adjusted EBITDA driven by higher volumes and improved gross margins for oil, natural gas liquids (NGLs), and water, despite some challenges in natural gas margins. The company has demonstrated strong commercial activities, securing new contracts in key regions and enhancing operational efficiency, which is expected to further bolster EBITDA growth. Additionally, strategic partnerships for gas processing agreements and the potential for increased drilling in lucrative liquids-rich basins provide further catalysts for growth in the upcoming years.

Bear case

Western Midstream Partners LP reported third-quarter results that fell short of consensus estimates while providing a revised outlook that indicates a slight decline in expected crude oil, NGLs, and produced water throughput for the year. Key risks contributing to a negative outlook include potential regulatory challenges in Colorado, cost overruns or delays on growth projects, and a significant decline in commodity prices, which could diminish drilling activity across systems lacking minimum volume commitments. Additionally, the detrimental impact of incentive distribution rights (IDRs) on corporate governance poses further concerns for investor confidence in Western Midstream's long-term performance.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.