Western Midstream Partners (WES) just released third quarter and nine month results, giving investors fresh numbers on revenue, earnings and how the business is tracking into year end.
The fresh earnings detail lands after a choppy few months for Western Midstream Partners, with the share price down 6.22% over the past week and 9.82% over the last month. The 1-year total shareholder return of 12.83% and 3-year total shareholder return of 90.89% point to momentum that has built over a longer horizon.
Scan hand-picked energy infrastructure plays with similar earnings catalysts by checking the 41 power grid technology and infrastructure stocks before deciding where Western Midstream Partners fits in your portfolio story.
Western Midstream Partners has given back some ground after a strong multi year run, yet still trades below the average analyst target and an indicated intrinsic value. Is most of the easy upside gone, or is it not yet fully priced in?
Most Popular Narrative: 17% Undervalued
On the latest numbers, Western Midstream Partners closed at $41.14, while the analyst consensus Narrative on Simply Wall St pegs fair value closer to $49.69 using a 7.24% discount rate. That gap sets the stage for a thesis built around basin specific projects and long term contracts rather than broad commodity bets.
Investment in large Delaware Basin projects such as the Pathfinder produced water pipeline and the North Loving II gas processing train, which are moving toward expected 2027 in service dates, is set to add fee based capacity that could lift Western Midstream Partners’ revenue and adjusted EBITDA as volumes ramp through those assets.
See why 43 investors see Western Midstream Partners as 17% undervalued.
Result: Fair Value of $49.69 (UNDERVALUED)
Still, the Western Midstream Partners story can get knocked off course if producer drilling slows and those big Delaware and Powder River projects end up underused.
Find out about the key risks to this Western Midstream Partners narrative.
Next Steps
Plenty in this Western Midstream Partners story can look either promising or fragile, depending on which risks and rewards you weigh more heavily. Move quickly from headline impressions to the actual numbers and sentiment shaping your own stance by reviewing the 2 key rewards and 2 important warning signs.
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