Western Midstream Partners, LP

NYSE:WES Stock Report

Market Cap: US$16.6b

Western Midstream Partners Management

Management criteria checks 3/4

Western Midstream Partners' CEO is Oscar Brown, appointed in Oct 2024, has a tenure of 1.58 years. total yearly compensation is $9.35M, comprised of 10.2% salary and 89.8% bonuses, including company stock and options. directly owns 0.022% of the company’s shares, worth $3.60M. The average tenure of the management team and the board of directors is 4 years and 5.7 years respectively.

Key information

Oscar Brown

Chief executive officer

US$9.4m

Total compensation

CEO salary percentage10.16%
CEO tenure1.6yrs
CEO ownership0.02%
Management average tenure4yrs
Board average tenure5.7yrs

Recent management updates

Recent updates

WES: 2026 Distribution Guidance And Fair Valuation Will Support Steady Income

Analysts have nudged their price target for Western Midstream Partners slightly lower to about $41.92 from $42. This reflects updated assumptions for fair value, discount rate, revenue growth, profit margin and future P/E.

Western Midstream: My Favorite High-Yield MLP Pick

Apr 11

WES: 2026 Distribution Guidance And Stable Metrics Will Support Steady Income

Analysts have nudged their price target on Western Midstream Partners slightly higher to $42.00. This reflects updated assumptions around discount rates, revenue growth, profit margins, and future P/E levels.

WES: Distribution Guidance And Payout Outlook Will Support Steady Income

Analysts have nudged their average price target for Western Midstream Partners slightly higher, from about $41.75 to roughly $41.83. This change reflects updated views on its discount rate, revenue growth assumptions, profit margin outlook, and future P/E expectations.

WES: Water Infrastructure And Iodine Project Will Support Steady Income Outlook

Analysts have maintained their $41.75 price target on Western Midstream Partners, citing updated assumptions that reflect a slightly higher discount rate, more moderate revenue growth and profit margins, and a lower future P/E multiple. What's in the News Western Midstream Partners issued dividend guidance for 2026, indicating a full year distribution of at least $3.70 per unit, with a planned quarterly distribution of $0.93 per unit starting with the first quarter payout in May.

WES: Iodine Partnership And Water Infrastructure Will Shape Steady Forward Outlook

Analysts have increased their average price target for Western Midstream Partners by $0.08 to $41.75, reflecting minor adjustments to fair value, discount rate, profit margin, and forward P/E assumptions in their models. What's in the News Iofina plc agreed with Western Midstream Partners to develop a new IOsorb plant in the Permian Basin, using Western Midstream produced water as feedstock for iodine extraction.

WES: Future Outlook Will Reflect Iodine Project Partnership And Stable Operations

Analysts have made a slight trim to their price target for Western Midstream Partners to about US$41.67 from roughly US$41.83, citing updated assumptions around discount rates, revenue growth, profit margins and forward P/E multiples. What's in the News Iofina plc agreed with Western Midstream Partners to develop a new IOsorb plant in the Permian Basin, using Western Midstream's produced water to extract iodine for commercial sale.

WES: Future Outlook Will Reflect Iodine Water Project And Stable Operations

Analysts are keeping their price target for Western Midstream Partners steady at around US$41.83. This points to only small adjustments in inputs such as discount rate, expected revenue growth, profit margin, and future P/E assumptions, rather than a change in their overall view of the partnership’s valuation.

WES: Future Outlook Will Reflect Iodine Water Project And Steady Risk Profile

Analysts kept their blended fair value estimate for Western Midstream Partners steady at US$41.83, making only marginal adjustments to the discount rate, revenue growth, profit margin, and future P/E assumptions that support the unchanged price target view. What's in the News Iofina plc agreed to develop a new IOsorb plant in the Permian Basin that will use Western Midstream's produced water and WET IOsorb technology to extract iodine for commercial sale.

WES: Future Outlook Will Reflect Iodine Water Partnership And Steady Risk Profile

Narrative Update on Western Midstream Partners Analysts have modestly revised their price target on Western Midstream Partners higher to approximately 41.83 dollars per unit. They cite slightly lower perceived risk reflected in a marginally reduced discount rate and a nearly unchanged outlook for revenue growth, profit margins, and future valuation multiples.

WES: Future Outlook Will Reflect Water Partnership Upside And Mixed Throughput Trends

Analysts have nudged their price target for Western Midstream Partners slightly higher to approximately 42 dollars per unit from 41 dollars previously, citing modest improvements in long term revenue growth expectations, a marginally lower discount rate, and a slightly higher anticipated future earnings multiple, even as projected profit margins ease fractionally. What's in the News Iofina plc signed an agreement with Western Midstream to develop a new IOsorb plant in the Permian Basin that will use Western Midstream produced water as feedstock for iodine extraction (Client Announcements).

WES: Future Outlook Will Reflect Mixed Throughput Trends And Stable Fundamentals

Analysts have slightly raised their price target for Western Midstream Partners from $40.83 to $41.00, citing small adjustments in discount rates and projected growth fundamentals. What's in the News Reported third-quarter 2025 natural-gas throughput averaged 5.4 Bcf/d, a 2% increase over the prior quarter (Announcement of Operating Results).

WES: Future Margins And Cost Reductions Will Support Stable Outlook

Analysts have raised their price target for Western Midstream Partners slightly, from $40.67 to $40.83. They cite improved profit margins and lower discount rates as key factors supporting a modest increase in fair value estimates.

Analysts Lift Western Midstream Partners Price Target on Revenue Outlook and Lower Discount Rate

Analysts have raised their price target for Western Midstream Partners from $40.33 to $40.67, citing stronger projected revenue growth and a slight reduction in the assumed discount rate that supports the valuation. What's in the News Western Midstream Partners reported unaudited consolidated impairment charges for the quarter ended June 30, 2025.

Western Midstream Can Continue To Afford Its Leading Dividend

Mar 27

Western Midstream Partners: A Dividend-Paying Machine In A Time Of High Volatility

Mar 17

Western Midstream: Scoop Up This Ultra-High-Yielding Deal Now

Feb 11

Western Midstream: Deeply Undervalued With An 8.7% Yield

Jan 10

Western Midstream: A 9% Yield, Undervalued, And Still Room To Grow

Dec 16

Western Midstream: 9% Yield Looks Solid Despite Moderating Growth

Nov 19

Western Midstream: 9% Yield With Growth Tailwinds From Permian Gas Expansion

Nov 08

Western Midstream: Pumping Out A Massive 9% Yield

Oct 18

Western Midstream: My Top 2 MLP Income Pick

Oct 06

Western Midstream: Time To Buy This Ultra-High-Yielding Bargain

Sep 13
User avatar

Strategic Expansion And Cost-Saving Innovations Fuel Growth In Natural Gas Sector

Enhanced revenue prospects through volume expansion in key basins and strategic cost savings aim to improve net margins.

Western Midstream Partners: High Yield Supported By Growth

Aug 09

8.8% Yield And Investment Grade? I'm All In - Western Midstream

Jul 30

Western Midstream: One Of The Highest Energy Yields

Jul 08

Western Midstream: This 9%-Yielding MLP May Be Worth Buying Now

Jun 20

9.3% Yield And Investment-Grade Rating Yes! Western Midstream

Jun 07

Shopping For Income? Don't Ignore 9%-Yielding Western Midstream Partners

May 20

Western Midstream Continues To Drive Reliable Returns

May 13

Western Midstream: 10% Forward Yield Plus Capital Appreciation From Investment Grade Company

Apr 03

Western Midstream: Redlining The Balance Sheet

Mar 16

Western Midstream's Recent Strength Doesn't Change The Thesis

Mar 05

My Income Climbed 52%, More Capital Gains Ahead: Western Midstream

Feb 28

Western Midstream: The Breakout Is Here And It's Likely Not Over

Feb 22

Natural Gas Demand Is Soaring: Earn +8% Yields From Western Midstream

Dec 26

CEO Compensation Analysis

How has Oscar Brown's remuneration changed compared to Western Midstream Partners's earnings?
DateTotal CompensationSalaryCompany Earnings
Dec 31 2025US$9mUS$950k

US$1b

Sep 30 2025n/an/a

US$1b

Jun 30 2025n/an/a

US$1b

Mar 31 2025n/an/a

US$1b

Dec 31 2024US$8mUS$146k

US$2b

Sep 30 2024n/an/a

US$1b

Jun 30 2024n/an/a

US$1b

Mar 31 2024n/an/a

US$1b

Dec 31 2023US$279kn/a

US$999m

Sep 30 2023n/an/a

US$1b

Jun 30 2023n/an/a

US$1b

Mar 31 2023n/an/a

US$1b

Dec 31 2022US$279kn/a

US$1b

Sep 30 2022n/an/a

US$1b

Jun 30 2022n/an/a

US$1b

Mar 31 2022n/an/a

US$1b

Dec 31 2021US$254kn/a

US$896m

Sep 30 2021n/an/a

US$917m

Jun 30 2021n/an/a

US$908m

Mar 31 2021n/an/a

US$949m

Dec 31 2020US$124kn/a

US$516m

Compensation vs Market: Oscar's total compensation ($USD9.35M) is below average for companies of similar size in the US market ($USD14.54M).

Compensation vs Earnings: Oscar's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.

CEO

Oscar Brown (54 yo)

1.6yrs
Tenure
US$9,351,146
Compensation

Mr. Oscar K. Brown is President & CEO of Aris Water Solutions, Inc. Mr. Brown is President, CEO & Director - Western Midstream Holdings LLC, the General Partner of Western Midstream Partners, LP and Wester...

Leadership Team

NamePositionTenureCompensationOwnership
Oscar Brown
President1.6yrsUS$9.35m0.022%
$ 3.6m
Kristen Shults
Senior VP & CFO - Western Midstream Holdings LLC4yrsUS$4.17m0.037%
$ 6.1m
Daniel Holderman
Senior VP & COO of Western Midstream Holdings1.8yrsUS$4.20m0.023%
$ 3.9m
Catherine Green
Senior VP & Chief Accounting Officer of Western Midstream Holdings6.6yrsUS$3.48m0.029%
$ 4.8m
Christopher Dial
Senior VP6.4yrsUS$4.11m0.057%
$ 9.5m
Coby Donaldson
VP & Chief Information Officer of Western Midstream Holdings LLCless than a yearno datano data
Daniel Jenkins
Director of Investor Relations - Western Midstream Holdings LLCno datano datano data
Jonathan Greenberg
VP, Head of Corporate Development & New Business Ventures of Western Midstream Holdings6.5yrsno datano data
Crystal Sled
Chief Human Resources Officer & Senior Vice President - Western Midstream Holdings LLC5.9yrsno datano data
Jonathon VandenBrand
Senior Vice President of Commercial - Western Midstream Holdings LLC1.3yrsno datano data
Ben Hansen
Senior Vice President of Business Services of Western Midstream Holdings1.4yrsno datano data
Scott Peterson
Vice President of Corporate Planning & Treasurer - Western Midstream Holdings6.5yrsno datano data
4.0yrs
Average Tenure
47yo
Average Age

Experienced Management: WES's management team is considered experienced (4 years average tenure).

Board Members

NamePositionTenureCompensationOwnership
Oscar Brown
President6.8yrsUS$9.35m0.022%
$ 3.6m
David Schulte
Independent Director of Western Midstream Holdings LLC5.7yrsUS$293.98k0.010%
$ 1.7m
Robert Phillips
Independent Director of Western Midstream Holdings LLC1yrUS$234.87k0.0010%
$ 170.9k
Peter Bennett
Chairman of Western Midstream Holdings LLC6.8yrsno datano data
Lisa Stewart
Independent Director of Western Midstream Holdings LLC5.7yrsUS$295.98k0.010%
$ 1.7m
Nicole Clark
Director of Western Midstream Holdings5.4yrsno datano data
Kenneth Owen
Independent Director of Western Midstream Holdings LLC5.7yrsUS$295.30k0.011%
$ 1.8m
Frederick Forthuber
Director of Western Midstream Holdings LLC4.4yrsno datano data
5.7yrs
Average Tenure
59yo
Average Age

Experienced Board: WES's board of directors are considered experienced (5.7 years average tenure).

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/05/03 02:04
End of Day Share Price 2026/05/01 00:00
Earnings2025/12/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

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Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Western Midstream Partners, LP is covered by 25 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Marc SolecittoBarclays
Jean Ann SalisburyBofA Global Research
Akil MarshBrean Capital Historical (Janney Montgomery)