WES is the ticker symbol for Western Midstream Partners, LP, a publicly traded Energy sector company listed on NYSE. 13F Pro tracks WES with AI-powered analysis, an AI quality score, SEC EDGAR financials, insider transactions, and institutional 13F holdings — all sourced directly from public SEC filings.

Is WES a good stock to buy?

13F Pro's AI ranking engine scores WES at 67.9/100, ranked #332 of 2,925 stocks on a composite quality score built from its SEC filings, covering profitability, growth, balance sheet strength, and free cash flow. The full AI verdict and bull/bear case for WES is available at https://13fpro.ai/company/WES. Not investment advice — review the underlying SEC filings before making any trade.

Where does 13F Pro source WES data?

All Western Midstream Partners, LP fundamentals and ownership data come directly from SEC EDGAR. Western Midstream Partners, LP files with the SEC under CIK 1423902. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

Western Midstream Partners, LP WES

NYSELarge CapEnergy

13F Pro quality score

Rank #332 of 2,925TOP 25%

Why it scores 68 Energy peers →

Rankings refresh quarterly once 80% of peers have filed. Next update: ~Nov 14, 2026.

Revenue

$1.22B

Quarter to Jun 30

Net income

$403.55M

Quarter to Jun 30

Free cash flow

$264.40M

Quarter to Jun 30

Operating margin

43.0%

Quarter to Jun 30

Top Institutional Holders

as of Q2 2026

$7.73B total

$1.60B-5.2%

$1.06B+0.3%

$929.06M+366.6%

$453.68M+18.4%

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

$377.98M-2.6%

GOLDMAN SACHS GROUP INC

$373.17M-2.6%

TORTOISE CAPITAL ADVISORS, L.L.C.

$284.71M-25.9%

Neuberger Berman Group LLC

$270.89M-1.5%

CHICKASAW CAPITAL MANAGEMENT LLC

$241.01M-1.2%

KAYNE ANDERSON CAPITAL ADVISORS LP

$171.90M+0.3%

UBS Group AG

$156.11M-4.2%

Clearbridge Investments, LLC

$118.65M+3.3%

WESTWOOD HOLDINGS GROUP INC

$95.54M+1.9%

BNP PARIBAS FINANCIAL MARKETS

$87.21M-5.4%

MILLER HOWARD INVESTMENTS INC /NY

$72.16M+4.0%

ING GROEP NV

$69.47M0.0%

Fractal Investments LLC

$66.72M-3.4%

BANK OF AMERICA CORP /DE/

$59.80M+21.1%

BARCLAYS PLC

$58.47M+25.8%

CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT

$55.13M-24.9%

INFRASTRUCTURE CAPITAL ADVISORS, LLC

$53.26M-1.4%

Recurrent Investment Advisors LLC

$49.59M-0.1%

EAGLE GLOBAL ADVISORS LLC

$45.57M-2.1%

STIFEL FINANCIAL CORP

$42.71M-0.8%

JPMORGAN CHASE & CO

$42.55M-34.2%

See all 371 institutional holders →

What's Driving WES's Business? Latest 10-Q Breakdown

37/37 datapoints verified

AI-extracted from the 10-Q filed 2026-08-05 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.

Total revenues rose 30% YoY to $1.22B as the Aris and Brazos Delaware acquisitions lifted produced-water throughput 5% QoQ to 2,993 MBbls/d and Adjusted EBITDA to $736.5M.

Biggest Revenue Drivers

Service revenues – fee based$980.1M+5% QoQ

Up $46.8M QoQ on $31.3M at DBM water systems from increased throughput and disposal-fee revenue, $9.1M from the Comanche complex, $7.7M at DJ Basin

Biggest Revenue Drivers

Total revenue: $1,224.7M+30% YoY

Service revenues – fee based$980.1M+5% QoQ

Up $46.8M QoQ on $31.3M at DBM water systems from increased throughput and disposal-fee revenue, $9.1M from the Comanche complex, $7.7M at DJ Basin

Largest Expense Items

Operation and maintenance$285.4M+8% QoQ

Up $21.1M QoQ on $10.6M higher water-disposal costs and $6.2M in chemicals and treating costs

Depreciation and amortization$205.9M+3% QoQ

Up $5.5M QoQ, primarily $4.0M related to the acquisition of the Comanche complex

Cost of product$117.4M+14% QoQ

Crude oil and NGLs purchases up $6.2M, including $3.7M from the Comanche complex; imbalance-position changes added $6.0M

General and administrative$85.9M+14% QoQ

Up $10.8M QoQ on $8.0M higher corporate expenses, primarily Brazos Delaware transaction costs

Margins: Gross margin rose $81.1M QoQ to $901.3M as revenues gained $101.1M against a $14.6M cost-of-product increase. Per-Mcf Adjusted Gross Margin for natural gas improved $0.03 to $1.35, helped by the higher-margin Comanche and DJ Basin volumes.

Watch Items from the Filing

Occidental was the only customer exceeding 10% of consolidated revenues in all periods; related-party revenues were $570.0 million of the quarter's $1,224.7 million.
Brazos Delaware closed June 11, 2026 for ~$1.67 billion ($820.3M cash, $852.0M units); integration risk is a newly added risk factor and controls are still being evaluated.
Carrying value of outstanding debt was $9.1 billion, with a $110.6 million working capital deficit and $1.8 billion of effective RCF capacity remaining.
Powder River Basin natural-gas throughput fell 16% to 397 MMcf/d for the six months on decreased production; equity-investment throughput fell 15%.
Contract liabilities rose to $1,285.0 million from $767.1 million, driven by $572.7 million of non-cash consideration from the Occidental unit redemption valued at $610.0 million.

AI-extracted and verified against SEC EDGAR filing text. Not investment advice.

Read the full 10-Q on SEC EDGAR →

Key Metrics

Revenue

Q2 2026

EDGAR

Net Income

Q2 2026

EDGAR

Operating Margin

Q2 2026

EDGAR

Free Cash Flow

Q2 2026

EDGAR

Financial Trends

Revenue & Net Income

13fpro.ai/company/WES

Loading ratio trend…

Western Midstream Partners, LP reported revenue, net income and margins by fiscal period, from SEC filings.
Period	Form	Revenue	Net income	Op. marginOperating margin
FY 2025	10-K	$3.8B	$1.2B	41.7%
FY 2024	10-K	$3.6B	$1.6B	54.7%
FY 2023	10-K	$3.1B	$1.0B	44.4%
FY 2022	10-K	$3.3B	$1.2B	48.8%
FY 2021	10-K	$2.9B	$916.3M	46.4%
FY 2020	10-K	$2.8B	$527.0M	31.7%

About Western Midstream Partners, LP (WES): stock profile, AI score and financials

Western Midstream Partners, LP (WES) stock profile, AI quality score, and SEC EDGAR financial data, a Energy sector company. 13F Pro's AI-powered ranking engine scores WES at 67.9/100 on a composite quality score built from its SEC filings, placing it at rank #332 of 2,925 stocks — the top 25% of the AI-ranked universe. WES scores in the top quartile across profitability (82.7), free cash flow (82.3), balance sheet strength (81.9). Areas of concern include earnings quality (36.1), which score below median versus the broader universe. Shareholder dilution risk is elevated at 48.2/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q2 2026), Western Midstream Partners, LP reports quarterly revenue of $1.2B, net income of $403.6M, an operating margin of 43.0%. WES trades on the NYSE exchange and files with the SEC under CIK 1423902. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate WES daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Western Midstream Partners, LP directly from SEC EDGAR.

Financials through the period ended Jun 30, 2026SEC EDGAR: CIK 1423902 →

Western Midstream Partners, LP WES

Top Institutional Holders

What's Driving WES's Business? Latest 10-Q Breakdown

Biggest Revenue Drivers

Biggest Revenue Drivers

Largest Expense Items

Watch Items from the Filing

Key Metrics

Financial Trends

Revenue & Net Income

WES key financials by period

WES insiders

About Western Midstream Partners, LP (WES): stock profile, AI score and financials

Western Midstream Partners, LP WES

Top Institutional Holders

What's Driving WES's Business? Latest 10-Q Breakdown

Biggest Revenue Drivers

Key Metrics

Financial Trends

Revenue & Net Income

WES key financials by period

Companies similar to WES

WES insiders

About Western Midstream Partners, LP (WES): stock profile, AI score and financials