US Capital Advisors Has Weak Outlook for WES FY2024 Earnings

Western Midstream Partners, LP (NYSE:WES) – Equities researchers at US Capital Advisors lowered their FY2024 EPS estimates for Western Midstream Partners in a report issued on Monday, February 3rd. US Capital Advisors analyst J. Carreker now anticipates that the pipeline company will post earnings per share of $4.04 for the year, down from their prior estimate 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 quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.74 earnings per share 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 analyst estimates of $924.83 million. During the same quarter last year, the business earned $0.70 EPS. The firm’s revenue for the quarter was up 13.8% compared to the same quarter last year.

WES has been the subject of several other reports. StockNews.com downgraded 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 decreased their price target for the stock from $42.00 to $40.00 in a research report on Friday, October 25th. Bank of America began coverage on shares of Western Midstream Partners in a research note on Thursday, October 17th. They set an “underperform” rating and a $37.00 price objective on the stock. UBS Group reduced their price target on shares of 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. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $41.00 target price on shares of Western Midstream Partners in a report on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $37.88.

Western Midstream Partners Stock Performance

Shares of NYSE:WES opened at $40.73 on Wednesday. The firm has a market capitalization of $15.50 billion, a PE ratio of 10.39, a P/E/G ratio of 1.38 and a beta of 2.88. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.11 and a quick ratio of 1.11. Western Midstream Partners has a 12 month low of $27.84 and a 12 month high of $43.33. The business has a 50-day moving average of $40.12 and a two-hundred day moving average of $39.11.

Institutional Trading of Western Midstream Partners

Hedge funds have recently added to or reduced their stakes in the business. Kayne Anderson Capital Advisors LP raised its stake in shares of Western Midstream Partners by 23.5% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 6,228,448 shares of the pipeline company’s stock worth $238,300,000 after buying an additional 1,184,597 shares in the last quarter. Duff & Phelps Investment Management Co. boosted its position in shares of Western Midstream Partners by 6,986.8% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 708,683 shares of the pipeline company’s stock valued at $27,114,000 after purchasing an additional 698,683 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Western Midstream Partners by 60.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,785,105 shares of the pipeline company’s stock worth $68,298,000 after purchasing an additional 670,440 shares during the last quarter. ING Groep NV lifted its stake in Western Midstream Partners by 81.0% during the third quarter. ING Groep NV now owns 746,587 shares of the pipeline company’s stock valued at $28,564,000 after purchasing an additional 334,187 shares during the last quarter. Finally, Citigroup Inc. boosted its holdings in Western Midstream Partners by 322.1% during the third quarter. Citigroup Inc. now owns 406,587 shares of the pipeline company’s stock worth $15,556,000 after buying an additional 310,260 shares in the last quarter. Institutional investors own 84.82% of the company’s stock.

Western Midstream Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be given a dividend of $0.875 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $3.50 annualized dividend and a dividend yield of 8.59%. Western Midstream Partners’s dividend payout ratio is presently 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.