$WES

Stifel reduced its price target for Western Midstream Partners (WES) to $50 from $55, citing weaker margins and lower volumes. The stock is near its 52-week low at $41, with an 8.5x 2027E EBITDA multiple. WES reported Q3 2026 earnings of $0.78 per unit, missing estimates, though revenue matched forecasts at $1.19 billion. The company noted a 12% YoY increase in adjusted EBITDA to $708 million, driven by volumes and acquisitions.

Western Midstream Partners (WES) maintained its Q3 distributable cash flow guidance of $2.05B-$2.25B and free cash flow guidance of $1.1B-$1.3B, assuming $85 oil prices in 2H 2026. Capital expenditures may exceed $1B due to increased activity. Pathfinder pipeline startup is expected late 2026, with potential 20% returns. WES declared a $0.93 quarterly distribution and expects 2027 margins to be slightly lower due to contract mix.

Western Midstream Partners, LP (WES) reported Q3 2026 net income of $324.8M, up 12% YoY, with Adjusted EBITDA of $708.3M and Distributable Cash Flow of $512.3M. The company maintained its 2026 guidance and announced a Q3 distribution of $0.930 per unit. WES expects to exceed its capital expenditure range due to investments in the Solitude Pipeline System and increased producer activity.

Analysts Dhierin Bechai and Daniel Jones recommended ExxonMobil, Chevron, Enterprise Products Partners, and Western Midstream. Chord Energy was highlighted as a higher-risk pick with projected free cash flow of $1.13B-$1.39B. ExxonMobil expects $25B earnings and $35B cash flow growth by 2030, with $13B in low-carbon earnings by 2040. Chord Energy's EV/EBITDA multiple is 2.8x, lower than industry range of 4x-6x.

Western Midstream Partners (WES) yields 8.2%, with record cash flow and rising payouts. UPS (UPS) yields 6.3%, with strong earnings and dividend coverage. Plains All American Pipeline (PAA) yields 6.3%, with improved leverage and annual raises. All three companies are highlighted for their dividend safety and growth prospects.

Western Midstream (WES) and MPLX reported Q2 results, both yielding over 7%. WES beat estimates with record EBITDA and raised 2026 free cash flow guidance. MPLX met EPS expectations but missed on revenue. WES offers a higher current yield, while MPLX plans significant payout increases. Both are MLPs, with MPLX having stronger growth prospects but higher sponsor risk.

PepsiCo (PEP) paid out 101% of its free cash flow in the first 36 weeks of its fiscal year, maintaining a 54-year streak of dividend increases. AbbVie (ABBV) paid 92% of its free cash flow in dividends, with growth driven by Skyrizi and Rinvoq. Western Midstream (WES) paid 142% of its free cash flow in distributions, with growth spending causing the shortfall.

Western Midstream Partners announced a $0.93 per share quarterly dividend, payable November 13 to shareholders of record on November 2, with an ex-dividend date of November 2. The forward yield is 8.37%.

Wall Street analysts released research calls on various companies. Upgrades include Akamai (AKAM) to Strong Buy, BlackRock (BLK) to Buy, and Venture Global (VG) to Overweight. Downgrades include Apple (AAPL) to Hold, Elanco (ELAN) to Hold, and Zoetis (ZTS) to Hold. Initiations include Ford (F) with Overweight and Sunoco (SUN) with Overweight. Markets were mixed, with Nasdaq futures lower and Treasury yields higher.

Western Midstream Partners (WES) announced a Q3 2026 cash distribution of $0.93 per unit, matching the previous quarter. The payout is scheduled for Nov. 13, with Q3 results and a call on Nov. 4 and 5, respectively. According to the company, this maintains their recent payout level, supporting a steady-income profile.