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Western Midstream Partners LP (WES) — chart, structure and Closelook read

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Company snapshot — Western Midstream Partners LP

WES in five paragraphs: what it makes and sells, where it sits in the Closelook stack, who it is priced against, why we track it, what we watch. Research diary, not advice.

What it does
Western Midstream Partners gathers, compresses, treats and transports natural gas, and moves condensate, natural gas liquids, crude oil and produced water for producers. It runs pipelines and processing plants across Texas, New Mexico and the Rocky Mountains, and also buys and sells the natural gas liquids and condensate that pass through its system. It began as Western Gas Equity Partners and took its current name later. The partnership is based in The Woodlands, Texas.
Where it sits in the stack
Western Midstream sits outside our Rubin index, which tracks the AI build-out; it belongs to the Energy sector of our wider universe, in the US oil-and-gas grouping. Its role is as a link between wellhead producers and the pipelines and export terminals that move gas, liquids and crude to market, not as a supplier to the compute stack.
Who it is priced against
The diary groups it with scored Energy names from the US and elsewhere, including Permian Resources, Cenovus Energy, BP and Petrobras, on the basis of sector and country rather than direct competition. The market's closer comparison is with other large gas-gathering and pipeline partnerships such as Energy Transfer.
Why Closelook tracks it
Western Midstream carries a Closelook score, our seven-module read on scored names; quality is its strongest module and valuation its weakest. It holds no seat in our Rubin or Halo indices, and the diary has not yet quoted or featured it in an edition.
What the diary watches
The diary watches whether the weak valuation module narrows as the balance sheet strengthens, and whether the recent run of down sessions persists after the analyst target was raised.

Western Midstream Partners LP (WES) trades on US exchanges, classified under Energy.

The Closelook company score reads 54/100 composite (momentum 73, quality 77, valuation 46) across 7 modules — the full breakdown, chart structure and analog history load live above.

Written from the company’s public profile and Closelook’s own readings, 2026-09-17. Descriptive, refreshed with the registry; corrections welcome via the imprint. closelook.net is an investment research diary — market structure, index membership and scores are our own readings, not investment advice. Related: index compare · sector dispersion · scanner.

Signals for this name

Every Closelook reading that exists for WES, from the same nightly bakes the boards use. Research diary readings, not advice.

The Street on this name 2 analyst actions on the wire · latest: price target by Truist, 2026-09-17

The Street on this name

Analyst actions and the latest print for WES from the Closelook wires — third-party opinions on the record, not our readings.

  • Price target Truist — target 55 Target set to $55 (+17.3% to spot) 2026-09-17
  • Price target Morgan Stanley — target 55 from 51 Target raised to $55 from $51 (+10.3% to spot) 2026-08-18

2 actions on the analyst wire since 2026-08-13: 2 target changes. Analyst wire → · Earnings wire →

Who it is priced against Oil & Gas Midstream · US · 8 names with week and year-to-date

Peer group

Oil & Gas Midstream · US

Names in the same industry from the Closelook universe; scored names rank on their Closelook score, the rest on trend state.

Compared against WES on the nightly bakes; the Peers tab ranks the cohort on the Closelook scores where it exists.

Dividends and capital return trailing yield 7.78%, quarterly · last 0.93 USD on 2026-07-31

Dividends and capital return

What WES pays out and buys back — distributions read from the price series, money terms from the filings.

  • Trailing 12 months 3.68 USD per share · a 7.78% yield on the 2026-09-18 close 4 distributions, paid quarterly 2026-09-18
  • Change on the year +36.5% against the prior twelve months prior twelve months 2.70 USD per share
  • Last distribution 0.93 USD per share as the price series records it, within days of the ex-date 2026-07-31
  • By calendar year 2025: 3.61 USD (partial) · 2026: 2.77 USD to date first distribution recorded in the three-year window: 2025-02-03
  • Dividends paid, FY2025 1.43 bn USD 114% of earnings
  • Buybacks, FY2025 none reported
  • Share count +5.2% in FY2025 50 m USD of stock-based compensation in the year
  • Capital returned 1.43 bn USD · 98% of free cash flow dividends and buybacks together, against the year’s free cash flow

Per-share amounts are derived from the adjusted price series in the listing currency, so dates sit within days of the ex-date; filing figures come from the fundamentals feed for the last reported fiscal year. An investment diary, not a recommendation.

Weather around the name 4 macro readings: Money Temperature, Factor regime, Sector × region …

The weather around this name

Macro readings that apply by membership — the regime, the factor tape, the sector cell, the funding backdrop.

  • Money Temperature Composite 50/100 · S&P 500 fund at 49, above its 50- and 200-day averagesEight instruments scored on position, momentum, volume, volatility and fragility — the regime every name trades inside. Temperature lab → 2026-09-18
  • Factor regime Momentum leading — risk appetite buildingMomentum against low volatility (SPMO / SPLV): above its 50-day trend, 97th percentile of the window, +4.9% over 20 sessions. Factor regime → 2026-09-18
  • Sector × region Energy in US: −1.3% week · +1.1% month · +20.5% quarter · +16.0% yearThe Sector Engine cell this name lives in, from XLE.US; the 11 × 4 matrix shows where its sector is being bought and where it is being sold. Sector Engine → 2026-09-20
  • Sovereign pressure Index 0.07 · down 0.41 over 21 sessionsG7 long-end yields, 10s30s and the slope — the funding weather for every balance sheet on this site. Sovereign pressure → 2026-09-18

FAQ · from the current data · as of 2026-09-19

Quick answers

What is Western Midstream Partners LP (WES)?

Western Midstream Partners LP trades as WES on the US exchange (US) and is classified under Energy in the Closelook research universe, as of the registry build of 2026-09-19.

Is WES in a Closelook index?

Not currently — Western Midstream Partners LP is tracked in the Closelook research universe but is not a constituent of a Closelook functional index as of 2026-09-19.

What is Western Midstream Partners LP's Closelook composite score?

54 out of 100, with momentum 73, quality 77 and valuation 46 sub-scores, as of 2026-09-19. Scores are Closelook's own research readings, not ratings or investment advice.

Where does WES trade against its moving averages?

Pullback inside an uptrend stack: Trades -0.1% vs the 50-day and +12.5% vs the 200-day average, 5.6% below the 52-week high and +39% off the 52-week low. Computed from daily closes. As of 2026-09-18 — a technical state from the nightly Closelook bake, not advice. The Technical tab carries the full row.

What does Western Midstream Partners LP do?

Western Midstream Partners gathers, compresses, treats and transports natural gas, and moves condensate, natural gas liquids, crude oil and produced water for producers. It runs pipelines and processing plants across Texas, New Mexico and the Rocky Mountains, and also buys and sells the natural gas liquids and condensate that pass through its system. It began as Western Gas Equity Partners and took its current name later. The diary groups it with scored Energy names from the US and elsewhere, including Permian Resources, Cenovus Energy, BP and Petrobras, on the basis of sector and country rather than direct competition. The market's closer comparison is with other large gas-gathering and pipeline partnerships such as Energy Transfer.

Where does Western Midstream Partners LP sit in the AI build-out?

Western Midstream sits outside our Rubin index, which tracks the AI build-out; it belongs to the Energy sector of our wider universe, in the US oil-and-gas grouping. Its role is as a link between wellhead producers and the pipelines and export terminals that move gas, liquids and crude to market, not as a supplier to the compute stack. Western Midstream carries a Closelook score, our seven-module read on scored names; quality is its strongest module and valuation its weakest. It holds no seat in our Rubin or Halo indices, and the diary has not yet quoted or featured it in an edition.

Does Western Midstream Partners LP pay a dividend?

Western Midstream Partners LP has paid 3.68 USD per share over the last twelve months, paid quarterly, a trailing yield of 7.78% on the 2026-09-18 close; the last distribution recorded in the price series was 0.93 USD on 2026-07-31. In fiscal 2025 the company paid 1.43 bn USD in dividends, 98% of that year’s free cash flow. The share count rose 5.2% over the fiscal year. The "Dividends and capital return" block on this page carries the lines.

What has Wall Street done on Western Midstream Partners LP recently?

The most recent analyst action on Western Midstream Partners LP on the Closelook wire is a price target by Truist on 2026-09-17 (target 55). 2 actions on the analyst wire since 2026-08-13: 2 target changes. Analyst actions are third-party opinions recorded by the wire, not Closelook readings. The “The Street on this name” block on this page lists the moves; the full feeds are the analyst wire and the earnings wire.

What does this page show?

A live price chart with SMA overlays and drawing tools for WES, performance metrics, index-membership context and the Closelook structure read — an investment research diary view, not investment advice.

Related in the Closelook universe

then Oil & Gas Midstream, then Energy. Scored names rank on their Closelook score; names without one rank on trend state — above or below their 50- and 200-day averages — never on a score they do not carry.