WES · NYSE · STOCK
Western Midstream Partners (WES) Stock Analysis
$45.64
52W $36.90 – $50.07
51/100
$18.85B
14.2
0.71
Is WES Bullish or Bearish?
Mixed.
Innellis AI committee rates Western Midstream Partners, LP (WES) Watch with a composite score of 51/100
, based on 6 analysts with 50% agreement.
Last updated October 10, 2026.
What Would Change This View
- Upgrade to Buy
- Requires a committee score of 60.0 — +9.48 from today. Applies on the first day at or above the line; upgrades are never dampened.
- Downgrade to Reduce
- Requires the score to fall below 40.0 — -10.52 from today. The band boundary is 45.0, but a one-step downgrade must clear a further margin first. A score oscillating around the line should not change the rating every night.
Executive Summary
The committee is genuinely divided. Macro Analyst sees a compelling case. Risk Analyst remains cautious — high leverage (debt-to-equity 2.15) amplifies downside in a stress scenario. This disagreement is itself the signal — the setup is not clean in either direction.
Bull & Bear Case
Bull Case
- ROE of 34.6% shows genuine earnings power backing the valuation — Value
- Dividend yield of 7.9% pays you to wait — Value
- MACD histogram positive -- bullish momentum — Technical
Bear Case
- Price-to-book of 4.0x prices in significant intangible value — Value
- Debt-to-equity of 2.15 adds balance-sheet risk to the value case — Value
- EPS declining -2.5% YoY despite any revenue growth — Growth
- Growth rate is decelerating quarter over quarter -- the trend line matters more than the level — Growth
- High leverage (debt-to-equity 2.15) amplifies downside in a stress scenario — Risk
Both cases are generated from quantitative data signals, not qualitative or
forward-looking judgement. They summarise what the numbers say today.
Price History (6M)
AI Investment Committee
Committee Consensus
As of October 10, 2026
Overall Committee Score
51/100
Agreement
50%
Analysts
6
Conviction
Contested
Sector Rank
Top 92%
of 93 Energy peers
Value Analyst
neutral
50
/ 100 · High confidence
Fair value -- neither a bargain nor obviously overpriced
+ ROE of 34.6% shows genuine earnings power backing the valuation
− Price-to-book of 4.0x prices in significant intangible value
Growth Analyst
bearish
40
/ 100 · High confidence
Growth story is weak, decelerating, or inconsistent
− EPS declining -2.5% YoY despite any revenue growth
Technical Analyst
neutral
58
/ 100 · High confidence
Mixed or range-bound price action
+ MACD histogram positive -- bullish momentum
Risk Analyst
bearish
30
/ 100 · Low confidence
Elevated risk from leverage, volatility, event exposure, or portfolio concentration -- size accordingly
− High leverage (debt-to-equity 2.15) amplifies downside in a stress scenario
Macro Analyst
bullish
65
/ 100 · Low confidence
Macro backdrop is supportive of risk assets generally, and this name's beta works in its favor
News Analyst
neutral
60
/ 100 · Low confidence
News flow is mixed or quiet -- no strong signal either way right now
Portfolio Manager
bearish
30
/ 100 · Moderate confidence
The existing book itself argues for caution here, independent of how good this specific stock looks
− Sector concentration is already high (HHI 2796.97)
Investment Thesis Evolution
Committee score moved marginally from 51.5 to 50.5.
- Committee agreement increased notably from 33% to 50%.
- Bullish support removed: 1 signal(s) disappeared.
- Analyst(s) changed stance: News Analyst.
Analyst-level changes:
- News Analyst: stance bullish->neutral.
- Value Analyst: score 55->50 (-5).
Comparing 2026-10-09 to 2026-10-10 (1 day apart).
Technical Analysis
RSI (14)
47.5
Neutral
MACD Histogram
0.078
Bullish Momentum
Trend Direction
Sideways
Weekly: Uptrend
Market Structure
Mixed
Support
$42.27
Resistance
$47.84
Bollinger %B
0.43
Inside Bands
Price vs Moving Averages
EMA 9
$45.60
Above
EMA 21
$46.08
Below
EMA 50
$46.52
Below
EMA 200
$44.28
Above
Fundamental Analysis
Valuation
86
Growth
38
Profitability
94
Financial Health
14
Cash Flow
70
Valuation
P/E Ratio
14.2×
P/B Ratio
4.26×
PEG Ratio
-7.75
Dividend Yield
8.07%
52W High
$50.07
52W Low
$36.90
Quality & Growth
ROE
2908.6%
ROA
779.8%
Gross Margin
6647.3%
Operating Margin
3968.8%
Revenue Growth YoY
—
Debt / Equity
2.14
AI Fundamental Assessment
P/E ratio of 14.2 (inexpensive relative to a 15-40x range); Price-to-book of 4.3x; PEG ratio of -7.7 (under 1.0 suggests growth is undervalued relative to price); Return on equity of 29.1%; Return on assets of 7.8%; Net margin of 29.2%; Gross margin of 66.5%; Current ratio of 0.91 (tight short-term liquidity); Debt-to-equity of 2.14; Free cash flow per share is positive (5.65); Most recent quarter beat estimates by 12.9%; 2 consecutive earnings beats; EPS growth decelerating (+80.9% -> +16.5% QoQ); Analyst estimates flat over recent quarters
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