OakChart

Western Midstream Partners LP

WESEnergy·Oil & Gas Midstream·USA·Large·NYSE·Nov 11 • 10:59 AM ET

41.40+0.26 (0.63%)
2026-11-11 16:59 CET
Market cap
16,999.91 USD m
Revenue, TTM
4,574.00 USD m
Net income, TTM
1,249.24 USD m
Free cash flow, TTM
1,118.60 USD m
EPS diluted, TTM
3.09
P/E
13.39
Compare

Price

WES against its 20, 50 and 200-day averages
2050200beatmiss
40.0042.5045.0047.5050.002.4M4.8MMay 26Jun 26Jul 26Aug 26Sep 26Oct 26Nov 26WESclose 41.4020-day 43.6750-day 45.41200-day 44.1841.4052w high

17.3% under the 52-week high of 50.07 on 18 Aug 2026. 52-week low 38.44 on 13 Nov 2025. Last 15 sessions, 18.1% high to low

Profile

WES
52-week range, 25% of the way up
38.4450.07

Western Midstream Partners LP engages in the ownership, operation, acquisition, and development of midstream energy assets. It engages in the business of gathering, processing, compressing, treating, and transporting natural gas, condensate, natural gas liquids, and crude oil for Anadarko, as well as third-party producers and customers. The company was founded in 2007 and is headquartered in The Woodlands, TX.

Employees1704
IPODec 07, 2012
Beta0.73
ATR, 14d1.09
Rel volume1.56
Short float2.26%
Insider own37.73%
Inst own42.41%

Snapshot

6 groups

Valuation

Index-
Market Cap17.11B
Enterprise Value26.44B
Income1.25B
Sales4.57B
Book/sh10.19
Cash/sh0.11
Dividend Est.3.73 (9.00%)
Dividend TTM3.70 (8.94%)
Dividend Ex-DateNov 02, 2026
Dividend Gr. 3/5Y25.30% 18.36%
Payout121.12%
Employees1704
IPODec 07, 2012

Ratios

P/E13.39
Forward P/E10.30
PEG0.78
P/S3.74
P/B4.06
P/C384.44
P/FCF15.29
EV/EBITDA10.41
EV/Sales5.78
Quick Ratio0.80
Current Ratio0.81
Debt/Eq2.19
LT Debt/Eq2.11
Option/ShortYes / Yes

Earnings

EPS (ttm)3.09
EPS next Y4.02
EPS next Q0.94
EPS this Y24.16%
EPS next Y8.64%
EPS next 5Y13.23%
EPS past 3/5Y-0.29% 20.24%
Sales past 3/5Y5.73% 8.56%
EPS Y/Y TTM-8.55%
Sales Y/Y TTM22.29%
EPS Q/Q-9.70%
Sales Q/Q25.38%
EarningsNov 04 AMC
EPS/Sales Surpr.-14.85% 0.58%

Ownership

Insider Own37.73%
Insider Trans0.00%
Inst Own42.41%
Inst Trans4.32%
ROA8.75%
ROE33.81%
ROIC9.54%
Gross Margin48.95%
Oper. Margin37.40%
Profit Margin27.31%
SMA20-5.20%
SMA50-8.84%
SMA200-6.29%
Trades-

Technical

Shs Outstand413.18M
Shs Float257.30M
Short Float2.26%
Short Ratio5.08
Short Interest5.82M
52W High50.07 -17.32%
52W Low38.44 7.70%
Volatility4.22% 2.26%
ATR (14)1.09
RSI (14)35.66
Beta0.73
Rel Volume1.56
Avg Volume1.14M
Volume476,328

Performance

Perf Week-2.68%
Perf Month-8.65%
Perf Quarter-14.27%
Perf Half Y-8.79%
Perf YTD4.81%
Perf Year4.41%
Perf 3Y51.32%
Perf 5Y87.36%
Perf 10Y-0.34%
Recom2.59
Target Price49.15
Prev Close41.14
Price41.40
Change %0.63%

Analyst ratings

latest 10 of 20
DateActionAnalystRating changeTargetImplied
Oct 20, 2026ResumedJJP MorganNeutral$50+20.8%
Sep 17, 2026InitiatedTTruistBuy$55+32.9%
Sep 10, 2026ResumedSStifelBuy$55+32.9%
Jun 17, 2026ResumedMMizuhoOutperform$48+15.9%
Jun 10, 2026UpgradeMMorgan StanleyUnderweight → Equal-Weight$51+23.2%
May 08, 2026UpgradeSStifelHold → Buy$46+11.1%
Oct 20, 2025ResumedCCitigroupNeutral$39-5.8%
Oct 25, 2024DowngradeMMorgan StanleyEqual-Weight → Underweight$42 → $40-3.4%
Oct 17, 2024ResumedBBofA SecuritiesUnderperform$37-10.6%
Sep 16, 2024DowngradeMMorgan StanleyOverweight → Equal-Weight$42+1.4%

Peers

Mkt cap
TickerCompanyMkt cap
TRGPTarga Resources Corp61.98B
KNTKKinetik Holdings Inc8.91B
AMAntero Midstream Corp9.39B
HESMHess Midstream LP6.34B
MPLXMPLX LP57.25B
OKEOneok Inc55.63B
PAAPlains All American Pipeline LP16.99B
ETEnergy Transfer LP67.07B
DTMDT Midstream Inc12.22B
EPDEnterprise Products Partners L P80.27B

Insider trading

13 filings
InsiderRelationshipDateTransactionCostSharesValueTotal heldForm
Brown Oscar KPresident & CEOOct 28 '26Option Exercise0.0052,6590138,099Oct 29 04:54 PM
Forthuber Frederick A.DirectorAug 12 '26Buy48.625,140249,9075,140Aug 12 04:13 PM
PHILLIPS ROBERT GDirectorMar 11 '26Buy40.191,25050,2385,296Mar 12 04:00 PM
Brown Oscar KPresident & CEOFeb 12 '26Option Exercise0.0024,022095,950Feb 13 05:27 PM
SCHULTE DAVID JDirectorFeb 12 '26Option Exercise0.003,843040,072Feb 13 05:26 PM
STEWART LISA ADirectorFeb 12 '26Option Exercise0.003,843039,772Feb 13 05:25 PM
PHILLIPS ROBERT GDirectorFeb 12 '26Option Exercise0.004,04604,046Feb 13 05:24 PM
Dial Christopher B.SVP, GC and SecretaryFeb 12 '26Option Exercise0.0091,7880237,139Feb 13 05:24 PM
Dial Christopher B.SVP, GC and SecretaryFeb 12 '26Sale42.355,879248,976185,011Feb 13 05:24 PM
Owen Kenneth F.DirectorFeb 12 '26Option Exercise0.003,843041,772Feb 13 05:22 PM
Holderman Daniel P.SVP & Chief Operating OfficerFeb 12 '26Option Exercise0.0091,7880103,498Feb 13 05:20 PM
Green Catherine A.SVP & Chief Accounting OfficerFeb 12 '26Option Exercise0.0063,3150122,950Feb 13 05:18 PM
Shults Kristen S.SVP & Chief Financial OfficerFeb 12 '26Option Exercise0.0091,7880155,879Feb 13 05:17 PM

Held by

AUM
TickerCompanyAUM
FCGFirst Trust Natural Gas ETFAUM: 609.13M
DIVGlobal X SuperDividend U.S. ETFAUM: 773.37M
ENFRAlerian Energy Infrastructure ETFAUM: 522.14M
TPYPTortoise North American Pipeline ETFAUM: 875.89M
NBETNeuberger Energy Transition & Infrastructure ETFAUM: 54.24M
USAIPacer American Energy Infrastructure ETFAUM: 122.65M
CZAInvesco Zacks Mid-Cap ETFAUM: 184.56M
BESFBastion Energy ETFAUM: 31.65M
CVYInvesco Zacks Multi-Asset Income ETFAUM: 119.10M
TOLZProShares DJ Brookfield Global Infrastructure ETFAUM: 172.79M

News

latest 14 of 206
  • Western Midstream Misses On EPS As Margin Compression And Heavier Costs Offset Record Volumes And A Better 2027 Outlook (Earnings Whispers) -6.32%
  • Western Midstream: Q3 Earnings Snapshot (Associated Press)
  • Western Midstream Announces Third-Quarter 2026 Results (PR Newswire)
  • Western Midstream's First Full Brazos Quarter Tests Whether Raised 2026 Outlook Has Room To Run (Earnings Whispers)
  • Western Midstream Announces Third-Quarter 2026 Distribution and Earnings Conference Call (PR Newswire)
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  • Top Stock Reports for Oracle, American Express & Progressive (Zacks)
  • Hess Midstream Stock Plunges, but the Chevron Deal Has a Silver Lining (Barrons.com)
  • Oil Prices Are Elevated: 2 High-Yield Stocks to Buy in September (Zacks)
  • Primoris Services Corporation Announces Appointments of James A. Greer and Oscar K. Brown to Board of Directors (Business Wire)
  • WhiteWater and partners approve FID for Solitude Pipeline System (Offshore Technology)
  • Western Midstream Announces Participation in the Solitude Pipeline System (PR Newswire)
  • SOLITUDE PIPELINE SYSTEM REACHES FINAL INVESTMENT DECISION TO TRANSPORT GAS FROM THE PERMIAN BASIN TO THE GULF COAST (PR Newswire)

Quarterly earnings

actual against estimate
PeriodReportedEPS actEPS estEPS repSales actSales estAnalysts
2026Q32026-11-040.7800.9160.7801,1941,18711
2026Q22026-08-050.9900.9070.9891,2251,12810
2026Q12026-05-060.8500.7420.8551,1241,01210
2025Q42026-02-180.4700.8450.4651,0311,03011
2025Q32025-11-040.8700.8800.867952.4896111
2025Q22025-08-060.8700.8290.873942.32940.1110
2025Q12025-05-070.7900.8330.789917.12919.5911
2024Q42025-02-260.8500.8490.851928.5926.3910
2024Q32024-11-060.7400.8340.736883.36924.8311
2024Q22024-08-070.9700.8380.968905.63904.9410
2024Q12024-05-081.4700.7661.466887.73868.2210
2023Q42024-02-210.7400.7870.739858.21850.2312
2023Q32023-11-010.7000.6330.704776.01798.3811
2023Q22023-08-080.6400.6640.641738.27795.7312
2023Q12023-05-030.5200.6400.516733.98759.1312
2022Q42023-02-220.8500.7220.850779.44816.3512

Annual earnings

PeriodEPS actEPS estEPS repSales actSales est
2019FY1.5901.4941.5932,7462,812
2020FY1.1801.1751.1852,7732,912
2021FY2.1802.3012.1802,8772,979
2022FY3.0002.8993.0023,2523,263
2023FY2.6002.6732.5983,1063,148
2024FY4.0203.8994.0193,6053,569
2025FY2.9803.4062.9803,8433,864
2026FY-3.700--4,597
2027FY-4.020--4,844
2028FY-4.326--4,978
2029FY-4.693--5,222
2030FY-5.170---

Estimate revisions

last 14 periods
PeriodTypeDateEstimatesUpDownMeanLowHigh
2026Q4S2026-11-097211,1871,0871,238
2026Q4S2026-11-057211,1871,0871,238
2026Q4S2026-11-047201,1971,0871,277
2026Q4S2026-11-037201,1971,0871,277
2026Q4S2026-10-207301,1971,0871,277
2026Q4S2026-10-197401,1971,0871,277
2026Q4S2026-10-147401,1931,0581,278
2026Q4S2026-10-087401,1931,0581,278
2026Q4S2026-09-297301,1911,0581,278
2026Q4S2026-09-227301,1931,0581,278
2026Q4S2026-09-167401,1931,0581,278
2026Q4S2026-09-086401,1861,0581,278
2026Q4S2026-09-015401,1901,0581,278
2026Q4S2026-08-205401,1861,0341,278

Estimate history

EPS, annual1.721.6871.5931.1852.183.0022.5984.0192.9763.0911
Period201720182019202020212022202320242025TTM
EPS, quarterly0.7360.8510.7890.8730.8670.4650.8550.9890.783
PeriodQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Sales, annual2250.1542307.5332746.8412548.9492697.9043251.7213106.4763605.2233843.4034574
Period201720182019202020212022202320242025TTM
Sales, quarterly883.362928.503917.116942.322952.4841031.4811123.5791224.7191194.217
PeriodQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Shares, annual218.933218.938443.971413.84402.994384.071379.52380.557408.141413.184
Period201720182019202020212022202320242025MRQ
Shares, quarterly380.555380.557381.327381.329381.333408.141393.776413.172413.184
PeriodQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26

Income statement, annual

Currency USD, millions
MetricTTM2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY
Total Revenue4,574.003,843.403,605.223,106.483,251.722,697.902,548.952,746.842,307.53
Cost of Goods Sold Incl. D&A2,335.081,833.651,703.251,527.801,657.831,455.211,260.051,568.721,285.53
Gross Profit2,238.922,009.751,901.981,578.681,593.891,242.691,288.901,178.121,022.00
Selling, General and Administrative Excl. Other450.73398.92271.53232.63194.02195.55155.77114.5967.19
Other Operating Expense77.5969.3462.6756.4678.5664.2768.3461.3551.85
Operating Income1,710.601,541.491,567.781,289.591,321.31982.871,064.791,002.18902.96
Interest Expense444.63390.49378.51348.23333.94376.51380.06303.29183.83
Unusual Expense4.3814.760.8037.5120.4955.49633.67131.61238.56
Net Income Before Taxes1,332.291,227.541,629.361,052.391,255.64934.19522.85821.17689.59
Income Taxes22.7615.0918.114.384.19-9.816.0013.4758.93
Consolidated Net Income1,309.531,212.451,611.251,048.011,251.46944.00516.85778.42448.51
Net Income From Continuing Operations1,249.241,154.501,536.97998.531,189.56896.48515.91662.33369.43
Net Income1,249.241,154.501,536.97998.531,189.56896.48515.91662.33369.43
EPS (Recurring)3.023.004.022.673.042.272.201.812.45
EPS (Basic, Before Extraordinaries)3.102.994.042.613.012.181.181.591.69
EPS (Diluted)3.092.984.022.603.002.181.181.591.69
EBITDA2,538.622,252.262,218.211,890.261,903.681,534.501,555.881,485.431,292.12
Non-Operating Income (Expense)70.6991.30440.90148.54288.76383.32471.79253.89209.01
Other After Tax Adjustments0.000.000.000.000.000.000.00-29.28-182.14
Stock Option Compensation Expense46.2040.1330.0225.2820.157.3610.6610.204.19
Price To Earnings Ratio13.3113.319.8310.799.6610.0611.2912.4324.70
Price To Sales Ratio4.033.994.083.623.273.402.362.982.63
Gross Margin48.9552.2952.7650.8249.0246.0650.5742.8944.29
Operating Margin37.4040.1143.4941.5140.6336.4341.7736.4839.13
Net Margin27.3130.0442.6332.1436.5833.2320.2424.1116.01
Shares Outstanding413.18408.14380.56379.52384.07402.99413.84443.97218.94
Market Capitalization16,999.9116,999.9114,624.7311,104.6410,203.868,975.855,676.588,803.499,124.79

Income statement, quarterly

Currency USD, millions
Metric2026Q32026Q22026Q12025Q42025Q32025Q22025Q12024Q4
Total Revenue1,194.221,224.721,123.581,031.48952.48942.32917.12928.50
Cost of Goods Sold Incl. D&A636.92608.74567.55521.87433.89439.42438.47433.55
Gross Profit557.30615.98556.03509.61518.59502.90478.65494.95
Selling, General and Administrative Excl. Other87.7885.9375.15201.8764.1266.1566.7976.03
Other Operating Expense20.3819.7419.4917.9915.7217.8017.8318.68
Operating Income449.13510.32461.39289.76438.75418.95394.04400.24
Interest Expense116.58108.98113.39105.6792.3595.1797.2999.34
Unusual Expense0.560.700.612.5111.560.690.000.00
Net Income Before Taxes345.76420.40362.53203.59350.96353.00319.99342.02
Income Taxes6.785.153.507.322.092.243.440.44
Consolidated Net Income338.98415.25359.03196.27348.87350.76316.55341.58
Net Income From Continuing Operations324.78394.88342.39187.18331.73333.75301.84325.85
Net Income324.78394.88342.39187.18331.73333.75301.84325.85
EPS (Recurring)0.780.990.860.470.890.870.790.85
EPS (Basic, Before Extraordinaries)0.790.990.860.470.870.880.790.86
EPS (Diluted)0.780.990.850.470.870.870.790.85
EBITDA672.91716.26661.82487.64609.07591.06564.50563.23
Non-Operating Income (Expense)13.7619.7715.1422.0216.1329.9123.2541.12
Other After Tax Adjustments0.000.000.000.000.000.000.000.00
Stock Option Compensation Expense10.0610.678.5716.898.266.527.447.44
Price To Earnings Ratio13.3114.3013.7511.6912.0911.5710.199.83
Price To Sales Ratio4.034.034.074.144.024.034.314.08
Gross Margin46.6750.3049.4949.4154.4553.3752.1953.31
Operating Margin37.6141.6741.0628.0946.0644.4642.9643.11
Net Margin27.2032.2430.4718.1534.8335.4232.9135.09
Shares Outstanding413.18413.17393.78408.14381.33381.33381.33380.56
Market Capitalization16,999.9117,231.8616,207.2716,115.8414,982.5014,757.3515,618.9114,624.73

Balance sheet, annual

Currency USD, millions
Metric2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY
Cash & Short Term Investments819.491,090.46272.79286.66202.00444.9299.9692.1479.59
Short Term Receivables788.80721.45681.29590.30467.13471.19272.33235.60161.88
Inventories12.842.512.563.803.370.8824.3510.8710.79
Other Current Assets35.8132.7635.7819.6712.2726.075.776.162.96
Total Current Assets1,656.941,847.19992.41900.42684.76943.06402.41344.76255.21
Net Property, Plant & Equipment11,408.829,934.119,739.308,608.698,584.638,748.939,068.928,410.355,730.89
Total Investments and Advances504.86541.43904.53944.701,167.191,224.811,285.721,092.09566.21
Long-Term Note Receivable7.1330.8329.7019.1817.2551.01320.23260.00260.00
Intangible Assets1,267.02654.52686.19717.86749.52781.191,255.191,287.211,191.43
Other Assets153.65136.70119.4880.7869.7281.0213.9962.7912.57
Total Assets14,998.4213,144.7812,471.6111,271.6311,273.0811,830.0312,346.4511,457.208,016.31
Short Term Debt Incl. Current Port. of LT Debt514.121,069.93629.01226.12516.49442.839.6828.00350.00
Accounts Payable319.17312.94362.45360.56326.06210.69293.13443.34349.80
Income Tax Payable9.434.582.912.431.523.400.700.382.50
Other Current Liabilities393.76304.24309.69314.75296.13304.02182.45165.7572.13
Total Current Liabilities1,236.481,691.691,304.06903.861,140.20960.93485.95637.48774.43
Long Term Debt8,305.307,070.457,332.026,602.906,436.067,450.687,954.605,214.873,142.71
Provision for Risks Charges427.86370.19359.19290.02298.27260.28336.40300.02146.88
Deferred Tax Liabilities111.2829.6815.4714.4212.4322.2018.90280.027.41
Other Liabilities754.38607.60431.75352.31290.36240.73205.31132.130.00
Total Liabilities10,835.309,769.619,442.488,163.518,177.328,934.829,001.166,564.524,071.43
Non-Equity Reserves0.000.000.000.000.000.000.000.000.00
Preferred Stock - Carrying Value0.000.000.000.000.000.000.000.000.00
Common Equity4,021.233,235.612,897.422,971.712,958.072,761.133,195.722,339.911,061.12
Total Shareholders Equity4,021.233,235.612,897.422,971.712,958.072,761.133,195.722,339.911,061.12
Accumulated Minority Interest141.89139.56131.71136.41137.69134.08149.572,552.782,883.75
Total Equity4,163.123,375.173,029.133,108.113,095.762,895.213,345.294,892.683,944.88
Total Liabilities & Stockholders Equity14,998.4213,144.7812,471.6111,271.6311,273.0811,830.0312,346.4511,457.208,016.31
Book Value Per Share9.858.507.637.747.346.677.2010.694.85
Tangible Book Value Per Share6.756.785.835.875.484.784.374.81-0.60
Full-Time Employees1,7041,5111,3771,2171,1271,045979602438
Price to Book Ratio4.044.523.933.562.992.042.709.597.52
Return on Assets8.2012.008.4110.557.764.276.143.794.78
Return on Equity31.8250.1234.0340.1231.3517.3231.9421.7235.71
Return on Invested Capital9.3714.919.7612.429.545.055.944.898.96
Quick Ratio1.331.090.760.990.600.980.780.520.32
Current Ratio1.341.090.761.000.600.980.830.540.33

Cash flow, annual

Currency USD, millions
MetricTTM2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY
Net Income1,309.531,212.451,611.251,048.011,251.46944.00516.85807.70630.65
Depreciation828.03710.78650.43600.67582.37551.63491.09483.25389.16
Other Funds (Non Cash)111.81120.50-218.64129.5218.82141.27682.7776.81271.88
Funds from Operations2,257.672,047.682,057.251,779.241,854.641,627.131,694.011,375.381,430.74
Extraordinary Item0.000.000.000.000.000.000.000.000.00
Changes in Working Capital-108.50206.34110.46-78.80-89.32181.11-24.43-21.02-52.98
Cash from Operating Activities2,149.172,254.022,167.711,700.441,765.321,808.241,669.581,354.361,377.76
Capital Expenditures-1,030.57-727.99-833.86-735.17-487.23-313.67-423.09-1,188.83-1,948.60
Net Assets From Acquisitions0.000.000.000.000.000.000.000.000.00
Sale of Fixed Assets and Businesses0.000.16792.250.00265.7416.6444.80459.16101.69
Purchase or Sale of Investments-27.710.00-9.69-1.15-9.63-4.43-19.90-2,229.62-295.74
Purchase of Investments-27.710.00-9.69-1.15-9.63-4.43-19.90-2,229.62-295.74
Sale Or Maturity of Investments0.000.000.00-0.000.00-0.000.00
Other Uses-1,226.67-388.77-18.73-910.08-49.590.00-57.760.000.00
Other Sources-3.330.000.000.000.0011.080.000.000.00
Cash from Investing Activities-2,288.28-1,116.60-70.02-1,646.39-280.71-290.39-455.95-2,959.29-2,142.64
Cash Dividends Paid-1,526.52-1,431.02-1,246.07-978.43-735.75-533.76-695.83-969.07-502.46
Change in Capital Stock0.000.000.00-134.60-487.59-217.47-32.53-0.850.00
Repurchase of Common Pref Stock0.000.000.00-134.60-487.59-217.47-32.530.000.00
Sale of Common Pref Stock0.000.000.000.000.000.000.00-0.850.00
Proceedsfrom Stock Options0.000.000.000.000.000.000.00-0.850.00
Issuance or Reduction of Debt, Net1,627.0995.7329.261,094.24-127.33-981.11-116.222,703.161,628.13
Change in Long Term Debt1,635.06103.7034.881,090.72-129.54-959.48-136.922,701.591,631.34
Issuance of Long Term Debt2,511.281,184.29789.043,058.651,389.01480.003,681.174,169.692,671.34
Reduction of Long Term Debt-876.22-1,080.59-754.16-1,967.93-1,518.55-1,439.48-3,818.09-1,468.10-1,040.00
Net Financing Active Other Cash Flow-94.25-73.09-63.20-49.12-49.28-28.44-24.08-120.48-348.24
Other Financing Activities Uses-94.25-73.09-63.20-49.12-49.28-28.44-24.08-127.89-399.86
Cash from Financing Activities6.32-1,408.39-1,280.02-67.91-1,399.95-1,760.77-868.671,612.75777.44
Net Change in Cash-132.79-270.97817.68-13.8784.66-242.92344.967.8212.55
Free Cash Flow1,118.601,526.031,333.85965.271,278.101,494.561,246.49165.53-570.84
Preferred Dividends (Cash Flow)-0.000.000.000.000.000.000.000.00
Price to Free Cash Flow-161.27167.43-19.629.5310.93--
Deferred Taxes & Investment Tax Credit-3.9414.211.042.00-9.773.307.61139.05

Balance sheet, quarterly

Currency USD, millions
Metric2026Q32026Q22026Q12025Q42025Q32025Q2
Cash & Short Term Investments44.50104.77647.50819.49177.29129.73
Short Term Receivables1,097.75981.97848.59788.80706.50728.80
Inventories13.9712.4214.8012.8412.9211.98
Other Current Assets27.0939.4228.5235.8120.3434.50
Total Current Assets1,183.311,138.571,539.411,656.94917.05905.01
Net Property, Plant & Equipment12,594.7012,542.0811,294.6911,408.829,726.359,740.20
Total Investments and Advances512.89493.47495.75504.86510.63523.53
Intangible Assets1,802.751,776.071,249.551,267.02630.77638.69
Other Assets340.31360.25345.10153.65340.55352.10
Total Assets16,433.9616,317.8114,924.5014,998.4212,125.3512,159.53
Short Term Debt Incl. Current Port. of LT Debt351.56244.03513.28514.1275.6974.56
Accounts Payable555.76510.37413.81319.17297.03357.04
Income Tax Payable7.294.7111.579.437.815.95
Other Current Liabilities538.36490.03468.50393.76259.94257.26
Total Current Liabilities1,452.971,249.151,407.161,236.48640.47694.80
Long Term Debt8,883.598,884.988,194.178,305.306,924.296,924.11
Provision for Risks Charges491.14471.75443.15427.86389.83385.22
Deferred Tax Liabilities121.31116.98111.90111.2831.9131.69
Other Liabilities1,136.541,192.801,261.13754.38810.21790.27
Total Liabilities12,085.5611,915.6611,417.5110,835.308,796.728,826.09
Non-Equity Reserves0.000.000.000.000.000.00
Preferred Stock - Carrying Value0.000.000.000.000.000.00
Common Equity4,208.394,258.313,365.794,021.233,182.173,188.96
Total Shareholders Equity4,208.394,258.313,365.794,021.233,182.173,188.96
Accumulated Minority Interest140.00143.84141.20141.89146.46144.47
Total Equity4,348.404,402.153,506.994,163.123,328.643,333.44
Total Liabilities & Stockholders Equity16,433.9616,317.8114,924.5014,998.4212,125.3512,159.53
Book Value Per Share10.1910.318.559.858.348.36
Tangible Book Value Per Share5.826.015.376.756.696.69
Full-Time Employees---1,704--
Price to Book Ratio4.045.124.184.734.704.62
Return on Assets8.758.828.738.2010.3010.22
Return on Equity33.8133.7436.4431.8240.2938.42
Return on Invested Capital2.483.002.961.523.283.30
Quick Ratio0.800.901.081.331.411.29
Current Ratio0.810.911.091.341.431.30

Cash flow, quarterly

Currency USD, millions
Metric2026Q32026Q22026Q12025Q42025Q32025Q2
Net Income338.98415.25359.03196.27348.87350.76
Depreciation223.78205.94200.43197.88170.32172.11
Other Funds (Non Cash)25.7122.9629.5833.5639.3418.38
Funds from Operations592.79645.80589.66429.42558.76541.55
Extraordinary Item0.000.000.000.000.000.00
Changes in Working Capital-21.20-111.04-109.87133.6223.4025.46
Cash from Operating Activities571.59534.75479.79563.04582.16567.02
Capital Expenditures-302.30-270.34-235.73-222.21-184.76-178.62
Net Assets From Acquisitions0.000.000.000.000.000.00
Sale of Fixed Assets and Businesses0.000.000.000.000.130.01
Purchase or Sale of Investments-25.13-0.81-1.770.000.000.00
Purchase of Investments-25.13-0.81-1.770.000.000.00
Sale Or Maturity of Investments0.000.000.000.000.000.00
Other Uses5.58-836.22-7.27-388.777.821.59
Other Sources0.000.000.00-3.333.330.00
Cash from Investing Activities-321.85-1,107.36-244.77-614.30-173.48-177.01
Cash Dividends Paid-392.68-374.64-379.68-379.52-355.25-355.25
Preferred Dividends (Cash Flow)0.000.000.000.000.000.00
Change in Capital Stock0.000.000.000.000.000.00
Repurchase of Common Pref Stock0.000.000.000.000.000.00
Sale of Common Pref Stock0.000.000.000.000.000.00
Proceedsfrom Stock Options0.000.000.000.000.000.00
Issuance or Reduction of Debt, Net96.59416.5713.331,100.604.54-345.47
Change in Long Term Debt96.59416.5713.331,108.574.54-345.47
Issuance of Long Term Debt96.591,216.9413.461,184.290.000.00
Reduction of Long Term Debt0.00-800.37-0.13-75.724.54-345.47
Net Financing Active Other Cash Flow-13.92-12.05-40.68-27.61-10.41-7.99
Other Financing Activities Uses-13.92-12.05-40.68-27.61-10.41-7.99
Cash from Financing Activities-310.0129.88-407.02693.47-361.13-708.72
Net Change in Cash-60.27-542.73-172.00642.2047.56-318.71
Free Cash Flow269.29264.42244.07340.83397.40388.39
Price to Free Cash Flow---167.34134.06156.92

Revenue breakdown

Product2024: 140.10M 2025: 194.68M
Product and Service, Other2024: 1.09M 2025: 1.80M
Service Fee Based2024: 3.25B 2025: 3.45B
Service Product Based2024: 215.78M 2025: 193.87M
United States2024: 3.61B 2025: 3.84B

Short interest

shares short against float, oldest to newest
SettlementOf floatShares shortFloatAvg volume
2026-10-302.26%5.8M257.3M976.48K
2026-10-152.49%6.4M257.3M866.04K
2026-09-302.34%6.0M257.3M806.81K
2026-09-152.52%6.5M257.3M843.59K
2026-08-312.47%6.3M257.1M858.96K
2026-08-142.75%7.1M257.1M1.02M
2026-07-313.11%7.8M250.8M1.13M
2026-07-152.92%7.5M257.5M1.36M
2026-06-302.99%7.7M257.5M1.39M
2026-06-153.61%8.6M239.0M1.43M
2026-05-293.34%8.0M239.0M1.56M
2026-05-153.34%8.0M239.0M1.65M
2026-04-303.53%8.4M237.9M1.52M
2026-04-153.26%7.8M237.8M1.41M
2026-03-313.21%7.8M243.3M1.46M
2026-03-132.72%6.6M243.3M1.36M
2026-02-272.74%6.7M243.3M1.33M
2026-02-132.35%5.7M243.3M1.24M
2026-01-302.26%5.8M255.0M1.34M
2026-01-152.26%5.4M239.7M1.39M

Option chain

expiry 2026-11-20
TypeStrikeBidAskLastIVOpen intVolumeDeltaThetaVega
call33.008.009.3013.201.6190.000.000.972-0.0100.004
call34.007.008.3012.601.4070.000.000.938-0.0300.008
call35.006.007.3011.601.3330.000.000.930-0.0290.009
call36.005.006.500.001.2430.000.000.922-0.0280.009
call37.004.005.200.000.9410.000.000.911-0.0260.010
call38.003.004.2010.100.8060.000.000.881-0.0290.013
call39.002.003.200.000.6690.000.000.832-0.0320.016
call40.001.002.251.600.56896.000.000.722-0.0420.022
call41.000.751.150.700.36561.000.000.585-0.0400.025
call42.000.350.500.450.30159912.000.368-0.0360.025
call43.000.050.200.100.28622.000.000.235-0.0360.020
call44.000.000.200.070.37831.000.000.183-0.0390.017
call45.000.000.400.050.4706650.000.144-0.0390.015
call46.000.000.550.030.5521,2110.000.118-0.0380.013
call47.000.000.050.040.5216570.000.069-0.0240.009
call48.000.000.550.020.5181,1240.000.038-0.0150.005
call49.000.000.200.040.5761,5080.000.035-0.0160.005
call50.000.000.100.050.6251,7410.000.032-0.0160.005
call55.000.000.550.050.8834050.000.024-0.0180.004
call60.000.000.550.051.10210.000.000.020-0.0190.003
put33.000.000.050.200.7124.000.00-0.026-0.0150.004
put34.000.000.550.010.8401140.00-0.060-0.0360.008
put35.000.000.550.160.7411030.00-0.067-0.0350.009
put36.000.000.550.050.64319.000.00-0.076-0.0340.009
put37.000.000.500.100.5442040.00-0.088-0.0320.010
put38.000.000.350.050.4452930.00-0.121-0.0360.013
put39.000.000.150.100.3441,2920.00-0.174-0.0400.017
put40.000.050.200.250.2615590.00-0.275-0.0460.022
put41.000.300.500.570.2547270.00-0.422-0.0460.025
put42.000.651.051.250.2566250.00-0.630-0.0420.025
put43.001.302.201.950.4504770.00-0.762-0.0410.020
put44.002.003.203.010.6096.000.00-0.806-0.0450.018
put45.002.904.504.000.8575.000.00-0.846-0.0460.015
put46.003.905.105.000.7691.000.00-0.878-0.0430.013
put47.004.906.105.750.8611.000.00-0.929-0.0290.009
put48.005.707.205.780.9440.000.00-0.960-0.0200.005
put49.006.508.306.451.0860.000.00-0.963-0.0210.005
put50.007.709.107.451.0380.000.00-0.966-0.0210.005
put55.0012.3014.6012.591.7740.000.00-0.957-0.0350.006
put60.0017.3019.6015.752.1020.000.00-0.964-0.0370.005

Latest SEC filings

30
FiledFormDescriptionPeriodLink
2026-11-0410-QQuarterly report pursuant to Section 13 or 15(d)2026-09-30SEC
2026-11-048-KCurrent report2026-11-04SEC
2026-10-294Statement of changes in beneficial ownership of securities2026-10-28SEC
2026-10-07SCHEDULE 13G/ASEC
2026-09-25SDSpecialized Disclosure ReportSEC
2026-08-124Statement of changes in beneficial ownership of securities2026-08-12SEC
2026-08-05EFFECTEffectiveness filing by commission orderSEC
2026-08-0510-QQuarterly report pursuant to Section 13 or 15(d)2026-06-30SEC
2026-08-058-KCurrent report2026-08-05SEC
2026-07-28S-3Registration statement for specified transactions by certain issuers including face-amount certificate companiesSEC
2026-07-09SCHEDULE 13G/ASEC
2026-06-258-KCurrent report2026-06-22SEC
2026-06-22S-3ASRAutomatic shelf registration statement of securities of well-known seasoned issuersSEC
2026-06-128-KCurrent report2026-06-11SEC
2026-05-0610-QQuarterly report pursuant to Section 13 or 15(d)2026-03-31SEC
2026-05-068-KCurrent report2026-05-06SEC
2026-04-08SCHEDULE 13G/ASEC
2026-03-124Statement of changes in beneficial ownership of securities2026-03-11SEC
2026-02-194/A2026-02-12SEC
2026-02-1810-KAnnual report pursuant to Section 13 or 15(d)2025-12-31SEC
2026-02-188-KCurrent report2026-02-18SEC
2026-02-134Statement of changes in beneficial ownership of securities2026-02-12SEC
2026-02-134Statement of changes in beneficial ownership of securities2026-02-12SEC
2026-02-134Statement of changes in beneficial ownership of securities2026-02-12SEC
2026-02-134Statement of changes in beneficial ownership of securities2026-02-12SEC
2026-02-134Statement of changes in beneficial ownership of securities2026-02-12SEC
2026-02-134Statement of changes in beneficial ownership of securities2026-02-12SEC
2026-02-134Statement of changes in beneficial ownership of securities2026-02-12SEC
2026-02-134Statement of changes in beneficial ownership of securities2026-02-12SEC
2026-02-134Statement of changes in beneficial ownership of securities2026-02-12SEC

Insider activity by month

MonthBoughtBuysSoldSells
2026-110000
2026-100000
2026-090000
2026-08249.91K100
2026-070000
2026-060000
2026-050000
2026-040000
2026-0350.24K100
2026-0200248.98K1
2026-010000
2025-120000
2025-110000

Institutional holders

Manager% owned
ALPS ADVISORS INC9.04%
Invesco Ltd.6.13%
MORGAN STANLEY5.39%
Blackstone Inc.2.63%
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.2.19%
GOLDMAN SACHS GROUP INC2.17%
TORTOISE CAPITAL ADVISORS, L.L.C.1.65%
Neuberger Berman Group LLC1.57%
CHICKASAW CAPITAL MANAGEMENT LLC1.32%
KAYNE ANDERSON CAPITAL ADVISORS LP1.00%

Funds

Fund% owned
Alerian MLP ETF8.97%
Bond Fund5.98%
Invesco SteelPath MLP Income Fund3.82%
Baird Core Plus Bond Fund2.54%
Touchstone Funds Group Trust-Touchstone Ares Credit Opportunities Fund1.97%
Baird Intermediate Bond Fund1.83%
Global X MLP ETF1.24%
Blackstone Alternative Multi-Strategy Fund1.10%
Invesco Conservative Income Fund1.09%
Invesco SteelPath MLP Select 40 Fund1.00%

OakChart. WES. Cached 15 minutes.